ARTIFICIAL INTELLIGENCE (AI) : THE DIGITAL FUTURE

Consumption of AI in our lives has increased over the past decade. From laptops to smartwatches, they are ruling the lives we are living right now. This has now become a mechanism to understand customers, their behavior and needs.

On this pretext of this, AI is gelling well with digital marketing, as the strategies are being more protective as the consumer insights are given. Also, as compared to survey reports and other old school methods of data collecting, this has been more cost-effective and time-efficient.
 

But before delving more into the topic, let’s talk about what is artificial intelligence (AI)?

Artificial Intelligence aka AI is simply the intelligence that is instilled in the machinery. So much so is the power of this AI is that machines work like a human capable of interpreting, comprehend, store and even remember the information for the future to modify its functionality. Few key reasons for its popularity being:

• Efficiency: It allows, accuracy, precision, and chances of error become bleak, hence greater efficiency.
• Better Insights: As its analysis of data is more deep, the insights it produces are more helpful.
• Equipped with Smart Tools: The whole process run on algorithms that are then backed by tools like Voice Assistants, GPS trackers etc are few to name.
• Adaptability: Comfortable and Progressive when comes to adapting or learning new algorithm patterns.

With these super-efficient and effective qualities, AI is revolutionalizing many industries and changing the way they once worked. A few of them which are benefitting a lot from it is banking, medical and last but not the least, marketing.
 

After a brief discussion on the concept of Artificial Intelligence, it’s time to move onto the effects it has on the Industry of Marketing.

Marketing a product is all about knowing your consumer, catering to their needs and then keep improvising and checking on the same strategy as per the response you receive from the consumers. But the toughest challenge is to break the needs of consumers so simplistically that you are in a better position to formulate strategies as per that intel.

Earlier, obtaining such information wasn’t a piece of cake, and huge surveys were involved to derive the market positioning of a brand. But AI came as a buffer which helped this gap and lengthy procedure to be out of the circle and intelligence took over the charge.
 

AI got it all, from the power of analysis to a data unfathomable for humans to process the data to adapt to that data for further use. It is basically acting human in analyzing market trends but on a larger scale and spectrum. The efficiency AI brings to the table is the reason why industries are actively opting for it.
 

The advantages of having an AI (Artificial Intelligence) are as follows:

• Know your audience better: With an in-depth analysis of strategies and consumer behavior on it, the results are pretty accurate and precise to consider and work upon. The dynamic behavior of the consumer has been the problem that AI seamlessly dealt with being all intelligence, algorithms, and technology which matched the dynamic nature of the human as well.
• Enhanced User experience: What do you like the most? Well, chances are your search engines knows better than you for that matter of fact. How is that possible? Artificial intelligence. This similar data is then utilized by different relevant peers who on the basis of this, strategize on different products and services. Isn’t it amazing? It simply helps you cater to what your audience actually looking for. 
• Strong threshold over Marketing: You don’t need to anymore anticipate your audience and their behavior. AI helps to get you what the demographics are so that your focus goes more on formulating and implementation of a strategy rather than research. It takes off the burden of research which earlier fell heavily on the part of marketing.
• Stirs productivity: The number of repeated tasks and process, or even lengthy tasks, from keeping track of the algorithm to consumer dynamic behavior, it deals with all of it, increasing the productivity which was costing you both time and money, but now with AI you made the process effective and productive.
• ROI (Return of Investment): With all the perks, and with increasing technology, probably more are going to be added to the list, AI is rendering more than it is taking. The accuracy, consumer satisfaction, and overall productivity it enhances lead to better returns on investment i.e. ROI which is the goal for any business.

Even after stating all the facts, you have a second thought, let’s talk about the numbers. Statistics from the consumer point of view say that 38% of them believe that if AI is sure to enhance the consumer experience and 73% of them are actually open to the purchase of such businesses who are using AI.

At the end of the day, your consumer is what decides your market and they are amped up by the advent of AI in the realm of business. All the more reason to have AI integrated with your brand.

Now that we have discussed the advantages, how one implements AI when comes to Digital Marketing.

AI is changing the way you are interacting with your consumers. The engagement which one derives through AI like traffic, likes, following, post engagement, awareness and so on, is nothing like how we once thought of marketing to produce, but bigger and better with acquiring and retaining consumers at the same time.

• Chatbots

From Google Assistant to Siri to Alexa, all are your virtual assistants through voice recognition. They are used to enhance the user experience and help your consumers have an interactive query solving portal to go to every time they are in need. 

• Product Recommendation and Advanced Shopping Experience

You always have seen your online shopping forum having suggestions for which actually are extensions and prompts made on the preferences you have already searched or bought. This enhances your experience in a way where you are updated about the trends which reflect your choice by the AI your online forum is using. A consumer would like you to have such a platform that understands their needs and aspirations and engage with them while they make a choice. It is a secret friend everyone needs.

• A Great Tool for Advertising

For any campaign to work out, the strategy entailing the target audience and their demographics play an important part in making the campaign successful. Therefore, having AI backing up your campaign is effective with the research and ease of data you require to even formulate a strategy that is holistic and streamlined. 

• AI-enabled Websites

Now AI is entering the realm of website building making the process easier than usual for the website builders when it comes to creating landing pages and other AI-related processes like Chatbots which are now preferred in every website if you carefully have a look.

AI changing the way we once assumed digital space would, making it more engaging, easier and effective when it comes to either side of it, consumers or businesses. All are positively affected making it a much-needed addition to any industry especially of marketing where knowing the consumer is what the whole deal is about.

By Doors Studio