Mumbai: Artificial intelligence or AI is the most hyped term in current times. Businesses and people are both leveraging this technology to market their AI-enabled products, and both groups are on the lookout for intelligent AI-enabled items. The topic of what artificial intelligence is arises, and the simple answer is that it is the emulation of human intelligence processes by computers, particularly computer systems like facial or voice recognition. One excellent example of an AI-based product or application is Alexa or Siri.
Almost every product or service we use nowadays is AI-based. In the past few decades, AI has become one of the most impactful digital innovations and has transformed the world in undefinable ways. According to Statista, the global artificial intelligence market was valued at around 327 billion U.S. dollars in 2021 and the AI industry is expected to grow by 1.5 trillion U.S. dollars by 2030.
The world and our daily lives are changing as a result of the use of AI as a tool. There are many commercial applications for artificial intelligence. Each organisation prioritises increasing both operational effectiveness and customer satisfaction. Companies today are integrating a range of digital technologies into their operations to improve the customer experience. Marketers may get a more in-depth understanding of their target consumers with platforms powered by AI. The insights generated by artificial intelligence that are gleaned from this optimization process may subsequently be used to increase conversions while also lightening the strain of marketing teams.
AI may revolutionise how organisations acquire, nurture, and convert prospects, as well as assist firms create more successful marketing plans. To ensure optimal efficiency, AI marketing solutions analyse data and customer profiles to learn how to effectively engage with clients. They then give them personalised messages at the appropriate moment.
AI-based innovational tools may significantly increase sales without a lot of human involvement and cut expenses in a variety of ways. The market landscape has drastically changed in just a few couple of years. Previously, only large sharks had access to these technologies, but now, in order for businesses of all sizes to remain competitive in the market, it is imperative that they integrate these digital technologies into their marketing strategies.
Types of AI marketing solutions
Artificial intelligence bridges the gap between the data collecting and strategy-making processes for marketers and customers by connecting them in a variety of ways and through a variety of solutions.
Machine Learning
Artificial intelligence, which consists of computer algorithms that can evaluate data and automatically enhance digital marketing campaigns via experience, is what powers machine learning. Machine learning-enabled devices examine fresh data in the context of pertinent previous data, which can help digital marketing initiatives by informing them based on what has or hasn't worked in the past.
Big data and analytics
Since "big data" has risen as a result of the growth of digital media, it has become possible for digital marketers to comprehend their efforts and precisely allocate value across channels. As a result, there is now an abundance of data, and many digital marketers are finding it difficult to decide which data sets are worthwhile to acquire. AI marketing may assist in quickly sifting through all of that data, reducing it to the basics, evaluating it, and selecting the most effective components for next digital marketing initiatives.
AI marketing and tools
Digital marketers have a unified platform for handling the enormous volumes of data being collected thanks to efficient AI-powered marketing tools. With the help of these AI marketing tools, you can gather meaningful marketing knowledge from your target market and use that information to inform your data-driven decisions on how to effectively approach them.
AI disrupting the marketing landscape
In order for businesses to remain competitive in the market and to comprehend how the marketing environment is evolving, these AI based marketing solutions are quite helpful.
The "big data" are gathered by marketers via internet websites, and these big data give marketers insights into the target audience as well as specific information about their demographics, interests, and pain points. AI assists marketers in analysing this huge data and personalising its interpretation to suit their needs.
The way marketers operate has been changed by AI, and this is where their work truly begins. To provide consumers the greatest experience possible, they must be ahead of AI. It is crucial that marketers provide a personalised touch. AI-driven solutions will continue to be used more frequently and are incredibly helpful for analysing and forecasting the buyer's journey. So marketers must stay one step ahead of AI in order to give customers an upgraded and dynamic experience.
"Where the job of AI ends, the task of marketers begins"
The author of this article is Addverb Technologies co-founder & CMO Satish Shukla.
