What is the application of artificial intelligence in marketing?
At one time, artificial intelligence seemed to be used only for science fiction. At the time, AI was limited to something that people could only imagine but did not use. However, artificial intelligence has been around since 1955 and is becoming increasingly commonplace, making its way into our lives.
AI has day-to-day applications, from the Netflix recommendation algorithm to a pocket assistant like Siri. Today, however, it does not necessarily look like a robot. One particular area that is interested in using artificial intelligence in marketing. Therefore, artificial intelligence is used in marketing.
Many marketers and organizations believe that expanding their business and increasing their customers’ digital access to the services or products they offer will increase the conversion of some of these audiences into customers. However, this does not always work. Marketing Insider Group reports that for every $ 100 spent on the Internet traffic, only $ 1 is used to turn that traffic into a business.
Increasing traffic does not necessarily mean growth. So what motivates consumers to become customers? Content? Request for action? Searchability? How does media affect user interaction? In this article, we examine the application of artificial intelligence in marketing.
What is the application of artificial intelligence in marketing?
The impact of artificial intelligence on marketing is widespread. How are marketers currently using different applications of artificial intelligence?
Visual Searching
Ever wanted something a bit different for your products but couldn’t remember the name? You type every keyword you think is necessary, but the search engine shows you disappointing results. Unlike text search, visual search can use visual data to make a more accurate match to what you are looking for.
According to Social Media Today, ninety percent of all information our brains receive is visual. To see if machines can analyze images similarly using shapes, lines, patterns, and colors. Pinterest and Google are notable pioneers in this area. There are 600 million visual searches on Pinterest every month, and image-based ads on the platform have a conversion rate of 8.5 percent. Visual search is an example of how artificial intelligence can benefit or serve consumers and customers. The value of visual search was expected to reach $ 25.65 billion by the end of 2019.
Predictive Analytics
According to a survey conducted by Forrester, improving targeted advertising is a good thing for marketers. The consensus among marketers is that predictive marketing can be defined in this way. Use artificial intelligence to predict the success of existing methods to make more informed marketing decisions.
Sixty-six percent of respondents to the survey said that marketing data and user data come from many sources. I have a lot of information to study and do not properly understand them and the impossibility of examining them traditionally. Artificial intelligence is essential for analyzing the components of a positive customer experience and predicting consumer behavior. In this area, artificial intelligence in marketing is to allow marketers. To act based on the customer’s needs at any given time based on the results extracted from the data.
Enhanced Personalization
Currently, many consumers expect the personalization of a product or service. This means that marketers need to work harder than before. A study by Accenture found that 43 percent of customers in the United States are more likely to work with companies. That personalizes customer experiences (as long as customer trust is not compromised). 91% of global customers mentioned Accenture in another survey. They are more inclined to buy the product from companies that can personalize it for themselves.
Every company probably has a lot of customers who have personalized each experience for themselves. However, AI can offer products to different buyers based on their history. Create targeted ads related to customer needs and even recommend useful content. Artificial intelligence can collect data and operate it in ways that the human brain cannot. And can personalize the product or service provided to the customer so that each person’s experience is different from the general experience of others.
Audience Insight
Suppose you do not know your audience. You can not effectively market your products or use some examples of artificial intelligence in marketing. Artificial intelligence can help you understand your audience. What are your customers’ priorities? Even if they do not clearly define their interests and priorities, you can also find out when they use your product often. Or what is the age group of your audience?
Many analytics tools now provide such information to marketers. But AI-based resources can help you. Use this data appropriately to deliver the right message at the right time. Once you know your customers (as long as the recorded information about their activities is valid), you will not need marketing surveys. And you can run more effective campaigns and maximize customer retention.
Customer Service via Chatbots
Your business’s customer service representatives are human, so they can only respond to a limited number of messages and interact with a certain number of people at a time. From a consumer perspective, many prefer not to interact with customer service representatives if they have simple questions.
An application of artificial intelligence known as bots helps customers respond. These bots are fast and easy to work with and have a close look that allows customers to connect with your business without picking up the phone. Robots also save time for the customer service department, so they can take more serious issues without worrying about answering questions over time.
What are the challenges facing artificial intelligence in marketing?
Artificial intelligence is not without its drawbacks. Although the emergence of artificial intelligence may seem like a revolutionary phenomenon.
Is AI ready to use?
Implementation and application of artificial intelligence is an issue that sometimes prevents the acceptance of the mainstream. While many types of AI applications in marketing depend on machine learning and the ability to act independently, there are still cases that require human supervision and management.
The results of a recent Infosys study indicate that 53% of the organizations surveyed believe that it is critical to developing the skills of the organization’s employees before deploying artificial intelligence within the complex. Thus, these organizations feel that they need help to benefit from artificial intelligence in marketing and that artificial intelligence talent alone is not enough.
In addition, since humans are still developing artificial intelligence, they may have their prejudices, according to MIT scientist Joey Boalamouini, who has published a study that examines racial and gender bias in intelligence recognition applications. He developed a synthesis developed by major tech companies, including Microsoft, IBM, and Amazon. When technicians asked systems to guess the gender of a face, their response was erroneous:
Less than 1% for men with white
35% for black women
If artificial intelligence is used in a biased way in marketing, using face recognition to match people with gender-based products can lead to offensive results.
Lack of transparency
Another highlight of artificial intelligence in marketing is the lack of transparency, which can be very difficult to understand in applications that rely on deep neural networks, so there is no direct way to follow the program’s decision-making process. How can we use artificial intelligence ethically and practically; What if we could not fully understand how to reach its conclusions and predictions?
As an expert named Yavar Batahi writes for Harvard Law and Technology Magazine: “If an AI program is like a black box, it will anticipate and make decisions like humans, but it cannot give reasons for doing so. “The thought process of artificial intelligence may be based on patterns that we as humans cannot comprehend, which means that the perception of artificial intelligence may be similar to the perception of other very intelligent species (with completely different senses and perceptual powers).”
Batali explains that if we can not infer the AI decision-making process, we can not understand the intent or behavior of its creators, and we can not even accurately predict the consequences of using AI applications. This lack of transparency is famous as the “black box problem”; The inability of artificial intelligence to explain its shortcomings has made it an impractical and discouraging concept for easy deployment and use.
The “black box problem” is about marketing because marketers need to know what the AI they have developed tells them; for example, if AI predicts a high loss rate, what factors does it take into account? If he says a B2B customer is breaking up, why does he think so? And if AI fails, how can marketers figure out why when the calculations are hidden? Without a clear mind map to read, artificial intelligence can only help marketers improve their efforts to a limited extent and possibly manipulate data without the knowledge of observers.
What is the future of the use of artificial intelligence in marketing?
The place of artificial intelligence in the future of the marketing world is increasing significantly. Still, if we want its presence to be positive, it must address its warnings. Experts like Joey Boalamouini rightly demand transparency and full accountability in artificial intelligence. He points out that pervasiveness in the development and use of artificial intelligence depends on its ethical applications to deprive users of their rights.
Like the “black box problem,” an innovation known as “Explainable AI” or XAI could unravel the mystery of AI decisions. Many developers have tried to link explanatory capabilities to existing AI applications, but the results are unsatisfactory because the technology can only summarize predictions after they have been made.
Fifty-one percent of the 3,500 global marketing leaders use artificial intelligence, according to Salesforce, and another 27 percent plan to use it over the next few years. Business owners and marketers alike have realized that artificial intelligence is increasingly becoming an essential tool for their business if they are looking for a competitive advantage. However, AI never has the final say, AI can predict patterns as accurately as possible, but it is ultimately the people who decide what to do with the information obtained.
The final summary of the application of artificial intelligence in marketing
Artificial intelligence disrupts the market’s perspective. However, this depends on the type of technology and the people who create and implement it. Artificial intelligence can make the job of marketers easier as long as they can use the results. It can also make shopping easier for customers if it does not violate users’ privacy.
MS intelligence is kind of powerful, but it needs complete transparency to work the way we want it to
