17.03.2020, by Magi Marinova
The world of AI
Artificial Intelligence, also known as AI, is a system able to perform tasks that usually require human intelligence. Such activities start from simple problem-solving tasks to emotion-recognition and disease diagnostics. There are currently two types of AI – narrow and general. Narrow AI focuses on carrying out only one task and constantly improves the work quality of one task whereas general AI can carry out multiple tasks. Just like a human, general AI is a flexible form of intelligence capable of learning how to do tasks that are extremely different from each other.
Most of us experience AI through Google Search and the recommendations on products we might like to buy based on our overall searches. Other technologies that use AI, are well-loved gadgets such as the Amazon’s Alexa, Apple’s Siri and Google’s Google Home. This technology is able to recognise a person in a picture, what the picture is of, spot spam, or even detect credit card fraud.
Use of AI in marketing & its benefits
AI works towards making the gap between the analytical and strategic part of digital marketing smaller. Marketing professionals of PwC see AI as a “business advantage” when it comes to the marketing industry. Digital marketing evolves with AI due to the improved SEO, and the well-selected content delivered to each user. Additionally, as AI continues learning, it improves the quality of work it performs, such as technology.
AI can be used in marketing in multiple ways:
- making sales forecasts,
- getting to know your consumers better,
- optimise digital advertising,
- narrow down consumer profiles,
- and have real-time conversations with your clients as a business.
AI uses customer data, machine learning, and other similar concepts based on algorithms to predict the actions or inactions of a consumer. One of the main tasks AI is used for in marketing, is to break and segment the big chunks of data marketers typically work with. By doing so, marketing campaigns reach the right target audience based on marketing analytics techniques. This increases the level of customer satisfaction as the most fitting channels and information are being used to target your audience.
Importance of AI Marketing
As the target audience expects marketers to know their needs and expectations, the professionals are under a lot of pressure to get the most relevant information to the consumer. This is where AI helps them – AI Marketing (AIM) narrows down the target audience effectively in terms of interests and likes, which creates a personalised experience specifically created for the consumer. Marketers benefit from AIM as they benefit from the customer data analysis AI does in order to pinpoint the next move of the customers.
Top AI Marketing Campaigns
Look at some of the most successful campaigns, created with the help of AI:
- National Geographic created the “Chat with Albert Einstein”;
- Amazon’s Echo Look rates the way you look based on algorithms with advice from fashion specialists;
- Chip and Joanna Gaines’ Shopify Magnolia Market used AI to help people have a real-life experience of their physical store even miles away;
- Starbucks’ Predictive Analytics used AI to predict their customers’ orders;
- Alibaba came up with “FashionAI”;
- Nike developed the idea of designing your own sneakers.
These are only a few great marketing campaigns, which improved the customer experience by using AI. You can find more examples of how companies improve the consumer experience with AI here and examples of how you stumble upon AI in your daily life here.