Updated: Apr 6, 2018
Anyone needs 15,000 eggs? In the recent winter Olympics, the Norway Olympic team ordered 15,000 eggs by mistake instead of 1,500 they were meant to order. Fortunately for them, the supermarket took back 13,500 eggs.
What happened? The Norwegian chefs used Google Translate to order the eggs from a local Korean supermarket (reported by CNN). Google translate uses Artificial Intelligence (or AI) to detect the language used and to understand the sentence structure.
When the Norway team entered “bestille 1,500 eggs” or order 1,500 eggs, Google translate read it as 1,500 euros of eggs and translated it to Korean.
What Is Artificial Intelligence?
AI technology focuses on how to make machines intelligent or capable of solving problems as well as or even better than humans.
While AI technology still has some bugs, it has potential to transform the way marketers engage with their customers. In a research from Accenture Interactive, 8 in 10 marketing executives believe that AI is poised to revolutionize the marketing industry by 2020.
Let's look at how AI will revolutionize marketing and advertising.
Personalizing Customer Experiences
Imagine you just had a baby and your bank sends you an email with credit card discounts for baby related products. Then you visit the bank’s website and see a banner for college savings account for your child. And when you walk into a branch you are greeted with an officer who offers you a loan on a larger home. Such personalized experiences are becoming a reality with Artificial Intelligence.
Companies such as Amazon, Netflix and Citibank are harnessing the power of Artificial Intelligence to create intimate and seamless experience across all channels. These brands collect thousands of data points from customers and build feedback mechanisms for AI algorithms to analyse and learn customers’ behavior to create personalized experiences. And with curated push notifications and intelligent email content brands can influence customers' purchase decisions and drive sales.
Intelligent Content Creation
From sports articles by the Associated Press to financial reports by Forbes, more articles are being written by robo-journalists. You heard me, news agencies are using Artificial Intelligence to generate news articles.
Imagine a bot writing all your blog posts. You will never have to spend sleepless nights writing articles. The robo-journalist can scour the internet for trending topics, gather data from millions of websites, validate sources and write articles that reads like it was written by humans.
From Google’s Neural Machine Translation (GNMT) system to Automated Insights’ Wordsmith to Narrative Science’s Quill system these neural linguistic AI systems help businesses write intelligent digital content.
Optimizing Advertising Campaigns
For companies with large-scale pay-per-click (PPC) campaigns, Artificial Intelligence can help optimize advertising campaigns across all platforms to deliver better results.
AI can identify new advertising channels not used by competitors, optimize ad layout, edit copywriting, sharpen targeting and reduce CPC bids.
Artificial Intelligence solutions like AdOptimizer help companies with media buying, analysis, management and optimization of PPC campaigns.
Still in the early stages of development, these AI solutions have had mixed results. And so far, solutions are not end-to-end and requires some form of human intervention (e.g. upload creatives, audience targeting criteria).
With more development and data, eventually these tools could be affordable and effective ways in optimizing PPC campaigns.
Are you bored? Then chat with Zo, Amy or Ernest. These chatbots not only have human names but sound as intelligent as real humans.
In recent years, the growth in popularity of chatbots has been driven by the development of Artificial Intelligence and Machine Learning. From leads management, payments, banking and customer service, the applications for chatbots are endless,
Chatbots have the ability to engage every online visitor, analyze millions of data points and suggest personalized solutions for customers. Chatbots can detect patterns, identify repeat customer issues and predict the cause of each problem.
Some businesses use chatbots to generate leads, warm them up and transfer hot leads to their sales teams.
Wouldn’t it be great if you knew when customers are going to buy, convert, unsubscribe or leave? Artificial Intelligence tools can be used to gather data, build propensity models and use machine learning to sharpen its predictions.
Predictive analytics give brands the opportunity to recommend the right products at the right time or re-engage and incentive customers to stay. For example, Amazon’s Machine Learning (ML) uses Artificial Intelligence to identify unhappy customers early which gives mobile operators a chance to offer incentives to retain customers.
"With AI, you can engage your customers at the right time and with the right message to achieve higher lifetime value and profits."
The Future of AI in Marketing and Advertising
With AI estimated to help businesses save $8 billion by 2022, it is a technology that every marketers should know and embrace.
Although Artificial Intelligence comes with certain risks, such as rogue chatbots and translation errors, the technology will continue to develop and solutions will become sharper.
Artificial Intelligence will inevitably become integral in marketing and advertising, automating basic workflows while allowing marketers to focus on more strategic work.
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