Why Artificial Intelligence is Revolutionizing Marketing

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by Anna Munhin Mar 7, 2023 News
Why Artificial Intelligence is Revolutionizing Marketing

Contributors' opinions are their own.

Every aspect of our lives has been changed by artificial intelligence. Leading brands are starting to embrace the opportunities the technology has to offer. A better understanding of customer behavior is one of the main benefits of artificial intelligence.

Data about customer behavior has been collected by marketers for years. Predicting which products and services will be most popular with a specific audience is their goal. Marketers would identify the channels to reach their customers.

This quest is being given an advantage by the use of artificial intelligence. Humans can't analyze as much data as this technology can. Predicting future behavior is one of the things that machine learning can do.

Artificial intelligence may add more value to marketing than human brains.

The growing role of AI in marketing

The market for artificial intelligence in marketing was worth over $12 billion. The global artificial intelligence market was valued at over $325 in 2021. The current market size doesn't show the true potential of marketing-related artificial intelligence. Growth predictions are the only way to understand that.

The market for artificial intelligence in marketing will nearly double in size in four years. Industry insiders think that this area of the marketing industry will triple in four years. The value of artificial intelligence is expected to reach $108 million by the end of the decade.

What are those expectations? Four of five marketing industry experts said they had already included some form of artificial intelligence in their work. Marketing professionals named several benefits when asked to identify areas in which artificial intelligence and machine learning were already improving campaigns.

  • Automation of repetitive tasks
  • Analysis of large quantities of data
  • Personalization of campaigns
  • Predicting conversion rates
  • Optimizing the timing of email marketing

The use of artificial intelligence in marketing is the leading application of those areas. More targeted advertising is one of the main advantages of using artificial intelligence and machine learning in marketing.

How AI enhances programmatic advertising

It used to take a long time to place the right ads in front of the right customers. Digital advertising space can be bought and sold using machine learning.

There is not a static machine learning program. Learning is one of the behaviors they mimic. If an advert misses or exceeds expectations, the program learns from this outcome. There is no need for more people to help. The machine learns by analyzing results anderating its approach.

Improved targeting of specific audiences with tailored messages benefits marketers and brands. Advertising spends are more efficient as a result. Data that would overwhelm humans is analyzed by programmatic advertising platforms.

The platforms can only calculate data about user behavior. Humans can't see trends before they happen. Those insights can be used by marketing professionals to make their content more relevant. Ad placement and bid pricing can be improved.

Should you trust artificial intelligence in marketing?

Understanding AI-related concerns in marketing

Concerns have been raised in the industry about the power of the technology. As the technology continues to evolve at a rapid pace, marketers are dealing with unanswered questions. Customers and marketers are two of the main issues. Privacy, data protection and job security are some of the concerns.

Artificial intelligence and machine learning rely on large quantities of customer data to make predictions. These technologies can't self-police. Any data they get will be analyzed by them. Ensuring that their data collection and usage practices are ethical is a must for marketers. They need to comply with current privacy and data protection legislation.

Job security for marketers is one of the concerns about the growth of artificial intelligence. Concerns have been discussed in relation to Openai's software. It's not possible to predict where the marketing industry is going, but most experts think that artificial intelligence and machine learning will change existing jobs rather than replace them. It is possible for marketers to work more efficiently and effectively. It is unlikely that humans will be replaced by robots in the near future.

Artificial intelligence can't outcompete humans yet.

Final thoughts

Artificial intelligence has the potential to change the marketing industry, but it isn't here to replace humans. Artificial intelligence and machine learning can improve and streamline marketing approaches.

Human team members can focus on what they are best at and develop campaigns that engage more customers with the help of both technologies.