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Sunday, March 31, 2019

AI is Transforming Marketing

Very good overview piece on marketing and AI in CustomerThink.   Intro is below.    Statistics they gathered are also interesting:

Artificial Intelligence Is Transforming Digital Marketing And For Good Reason!   By Evan Brown  in CustomerThink

Artificial intelligence has, irrefutably, revolutionized our lifestyle as well as business processes, including digital marketing, in ways once impossible to imagine.

Artificial Intelligence… This long, wordy term may sound perplexing to you, but what’s more perplexing is the fact that we are using AI technology every day and most of us didn’t even realize it till now.

Surprised? Let’s just take a reality check.

Think of all those times when Gmail suggested you smart replies for an email or Spotify recommended new releases and old favorites as per your music taste. Artificial Intelligence lies behind all this; it capitalizes on the algorithms that determine our online activities and thereby makes suggestions relevant to how we behave online.

AI has overshadowed the app industry to get deep-rooted into our lives. Google Maps app uses AI to assess the traffic conditions on the roads and propose quickest routes to its users. Similarly, the LENS tool in Pinterest identifies the images and provides similar image results to the user.

But what if it’s just a beginning? Let’s dig out some stats…

85% of the customer interactions will be managed without any human interaction. (Gartner)
AI technology can help businesses increase the labor productivity by almost 40%. (Accenture)
83% of businesses who adopted AI technology before everyone else have driven either substantial (30%) or moderate (53%) economic benefits from AI projects. ( Deloitte)
47% of digitally mature organizations, or enterprises with advanced digital practices, claimed that they have implemented a defined AI strategy. (Adobe) 
77% of consumers are actually using AI platforms, whereas 33% think they use AI-powered technology. (Pega)   .... "

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