Artificial intelligence (AI) has been a mainstay of science fiction for many years. As long ago as 1872, science fiction writers depicted computers that controlled the earth — robots that challenged or aided humanity or human battles against AI machines. Think “2001: A Space Odyssey,” “Blade Runner” or “The Matrix.”
However, while science fiction writers played with artificial intelligence, AI marketing has become an increasingly important tool for companies in the real world.
In 2021, the global AI market was valued at $93.53 billion — a number expected to reach $997.77 billion by 2028, according to Grand View Research.
In 2022, Statista published a report that said, "AI is expected to have wide adoption in and implications for every industry vertical and is likely to be one of the next great technological shifts, like the advent of the computer age or the smartphone revolution."
How Does Artificial Intelligence Work in Marketing?
AI marketing typically fits into two categories: task automation and intelligent/machine learning. And these two use categories can operate either as standalone or integrated programs.
Task Automation vs. Intelligent AI
Task automation is pretty straightforward — AI programs carry out structured, repetitive tasks. They operate according to a pre-determined set of rules or programmed sequence of events. This use of AI is not, and need not be, intelligent.
Intelligent AI marketing, however, takes advantage of machine learning — a type of AI that can become more accurate over time, learning as it goes, essentially. Intelligent AI runs large quantities of data through its pre-programmed algorithms to make complex predictions and decisions.
Intelligent AI places customers in verticals that best reflect their interests and anticipates how they will respond to promotions, discounts or seeing a product or service that corresponds to their customer preference profile.
However, these programs aren't perfect. Most applications can only perform in narrow areas, and each use case needs direction on how to compute large amounts of data.
Continue reading: https://www.cmswire.com/digital-marketing/can-ai-marketing-transform-your-business/
However, while science fiction writers played with artificial intelligence, AI marketing has become an increasingly important tool for companies in the real world.
In 2021, the global AI market was valued at $93.53 billion — a number expected to reach $997.77 billion by 2028, according to Grand View Research.
In 2022, Statista published a report that said, "AI is expected to have wide adoption in and implications for every industry vertical and is likely to be one of the next great technological shifts, like the advent of the computer age or the smartphone revolution."
How Does Artificial Intelligence Work in Marketing?
AI marketing typically fits into two categories: task automation and intelligent/machine learning. And these two use categories can operate either as standalone or integrated programs.
Task Automation vs. Intelligent AI
Task automation is pretty straightforward — AI programs carry out structured, repetitive tasks. They operate according to a pre-determined set of rules or programmed sequence of events. This use of AI is not, and need not be, intelligent.
Intelligent AI marketing, however, takes advantage of machine learning — a type of AI that can become more accurate over time, learning as it goes, essentially. Intelligent AI runs large quantities of data through its pre-programmed algorithms to make complex predictions and decisions.
Intelligent AI places customers in verticals that best reflect their interests and anticipates how they will respond to promotions, discounts or seeing a product or service that corresponds to their customer preference profile.
However, these programs aren't perfect. Most applications can only perform in narrow areas, and each use case needs direction on how to compute large amounts of data.
Continue reading: https://www.cmswire.com/digital-marketing/can-ai-marketing-transform-your-business/
