As consumers, artificial intelligence (AI) is an everyday part of our lives – whether we realize it or not. AI technology powers our Google Maps, Siri, Tesla self-driving cars, and Netflix.
Even as artificial intelligence automates more and more of the world around us, its most anticipated applications for marketers and advertisers are just emerging. According to a 2017 Economist Intelligence Unit report, 79% believe AI will make their jobs easier and more efficient. So, it’s no surprise that by 2025, the artificial intelligence market is expected to surpass $100 billion.
AI marketing is finally a reality, and everyone in the industry is clamoring to discover the possibilities…
What AI Is and What AI Isn’t
Artificial intelligence isn’t a new concept. Over the years, it has become synonymous with everything from the Terminator to Alexa. At its core, artificial intelligence refers to the branch of computer science focused on creating intelligent machines that act like humans. But AI isn’t meant to replace humans (or our jobs).
In today’s ad tech world, artificial intelligence represents a way for marketers to sift through big data in milliseconds and find insights about customers that will enhance the user experience. No longer a dream of sci-fi pop culture, AI systems and technologies have already begun to proliferate in the marketing industry.
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AI technology is quickly becoming an important factor in marketing success, so how can you take advantage in the coming years?
- Say goodbye to media planning as you know it. Instead of reaching females in their 30s on mobile devices who like cooking, you can target Sally on the device she uses most when she looks up recipes. Hours spent strategizing audiences will be a thing of the past — AI tech can tell you exactly who to target based on data from consumers’ browser histories, chatbot conversations, and more.
- Save money with smarter bidding. Targeting truck lovers using Chrome on NFL.com isn’t worth the same price at 8 a.m. on Wednesday as it is at 7 p.m. on Sunday. Machine-learning algorithms account for these differences and vary your bid based on the context in which the ad is served, which means you’ll win more impressions at the value they are actually worth.
- Get closer to your customers. When you watch Netflix recommended shows, an artificial intelligence uses real-time data to predict your mood in that moment and make the right movie suggestion. The same predictive technology can be used to bring back the human touch in your ads. For instance, pairing a “chance to win” incentive with spirited users who just set their fantasy team lineup.
Ready or not, artificial intelligence is here. It’s no longer a question of if you will use AI technology but when you’ll start maximizing its potential on your campaigns.
Will you be investing in AI marketing this year? Reach out to us to learn more.