In the past few years, AI has become more accessible than ever. AI systems are now being implemented in many industries. Changing the way we as humans do things.
AI is being used in the advertising industry to segment and target consumers with personalized ads; it’s used as a tool to predict stock market trends; doctors can even use AI to tell how a patient is feeling…
AI’s abilities are limitless!
In this post, I’ll take a look at the different ways AI is changing our industry and what could lie ahead.
What is AI and How Does it Work?
AI stands for Artificial Intelligence. It’s a set of computer technologies that try to replicate human intelligence to a certain extent using machine learning algorithms.
By developing a model of how the world should look based on an input data set, AI then predicts whether or not this future state will match what it sees in front of it.
AI has progressed so far that it can be used to predict what people are going to do in the future, and is being increasingly implemented by companies like Google and Facebook into their entire business processes.
Artificial intelligence is trained with lots of examples (data) before it can accurately predict outcomes. It learns from patterns that are discovered in the data set and then generalizes these insights to learn new information.
So AI is kind of like our brain!
Some Statistics On The Implementation Of AI
For decades, artificial intelligence was no more than a subject of speculation and the main plotline in many science fiction films. It is now commonplace for people to use AI without even realizing it.
In this section I will go over some eye-opening statistics that give a more detailed view of what the artificial intelligence market currently looks like.
Many Brands Are Still Behind
SMB’s are still lagging behind and are barely using this technology to their full potential.
Research shows that only 16.2% of SMBsare currently actively using AI for their business.
The other 83,8% is currently still evaluating the use of for either now or in the future or is not considering the use of AI at all.
Many SMB companies still don’t invest in AI. This means there is a huge opportunity for you to create an edge over your competition and take the lead!
Investments in AI
Investments in AI will top $45B in 2021, up from $25B in 2019. AI is one of the fastest-growing technology segments, with AI spending expected to grow at a compound annual growth rate (CAGR) of 34.06% from 2019 to 2021
The global AI market has a size of a whopping $327B! AI will generate up to 15 trillion dollars in economic value by 2030.
AI is now a critical factor in determining the future competitiveness of companies. It will become one of the most important sources for innovation and value creation.
The AI market has created tens of thousands of jobs, with AI-related fields expanding by more than 20% every year AI can help businesses to be more agile and competitive in their markets.
A Common Use of AI: Chatbots
Almost 40% of major companies use AI for their customer service. It can be used in everything from personal assistants that make your life easier to smart speakers like Alexa or Cortana.
Chatbots are the new rage for startups and entrepreneurs. Mass media reports that companies with more than 500 employees will be implementing at least one chatbot in 2019 and by 2020, 80% of businesses plan to use bots.
If you’re currently using a chatbot then you’re ahead of the curve. If you’re not, then you’re behind and it’s time to catch up.
Using AI for customer support is still a relatively new technology, but its potential for growth and innovation is so high that its use will become ubiquitous in the near future.
There are Two Types of Artificial Intelligence: Machine Learning and Deep Learning
AI is most often used in Deep Learning, which means it learns based on example data.
Machine learning is a subset of AI and uses statistical algorithms to generalize insights from raw input data sets. Machine learning can be thought of as the “thinking” part of AI where deep learning is what does all the work (think mind vs. brain).
The AI we know today is a culmination of both types and they work together to mimic human intelligence. AI can be broadly categorized into three different forms:
- Narrow AI: This AI specializes in one task, like playing chess or identifying what breed a dog is by looking at photos of the dog online.
- General AI: AI that has the ability to do all tasks a human can.
- Super AI: AI with awareness and sentience, like we see in movies like Blade Runner.
Narrow AI is most common right now but general AI and super AI are not too far off, especially with how fast technology evolves!
What Does Artificial Intelligence Mean for Digital Marketing?
This revolutionary technology has changed the face of digital marketing and how marketers create their products.
For example, with AI, marketers are able to make better decisions about their digital marketing strategies with more targeted and personalized messages.
Ever written a Facebook Ad? AI can help by predicting what your conversion rates will be and identify which customers would most likely respond to a message.
AI is taking over our digital marketing processes one step at a time, but AI doesn’t always get it right. AI can only predict the probability of something happening in the future, not its certainty!
So, marketers still need to use their intuition when deciding how AI should guide them along their journey.
It is not a replacement for Digital Marketers. Yet…
What are some benefits of Artificial Intelligence for Digital Marketing?
AI has helped streamline processes, saving tremendous amounts of time by automating repetitive tasks such as data entry or customer service inquiries with chatbots that convert text messages into responses using natural language processing.
If you have ever done any customer support then you know 90% of the questions asked have been asked before.
Tasks like these are perfect for an AI to take care of.
This helps companies save money on hiring more staff because they don’t need customer service representatives anymore!
Analyze & Organize Large Amounts of Data
AI can help by analyzing large amounts of data for patterns that humans may be incapable of seeing on a single screen or in one day. It’s able to accumulate immense amounts of data, which can be impossible for humans to monitor altogether.
Think about huge Facebook Ads data sets that need to be interpreted or Google Ad Keyword research spread out amongst all your clients.
Interpreting this data can be extremely beneficial before even looking to be designing a campaign.
AI could be looking for patterns across all these datasets and making recommendations such as, which ads are most likely to convert, or what color should be used in the design of your landing page; and implement these changes automatically.
Additionally, it can help digital marketers organize their content in a more efficient way specifically when you look at tasks like generating new ideas for blog posts or social media campaigns.
AI is changing the digital marketing space by helping marketers spend less time on routine tasks and more time doing what they excel at!
A Powerful Tool in the Arsenal of Digital Marketers, but BE CAREFUL!
AI makes marketers’ lives easier as they become increasingly reliant on AI-driven recommendations and predictions about their clients’ business’.
When using AI as part of a digital marketing strategy, it’s important not only for companies to recognize that this technology has value but also how best to implement AI into their workflows so that it doesn’t cause any problems with efficiency down the line.
Because AI is a powerful tool, but AI can be dangerous too. AI is not perfect and has the potential to make mistakes in the future that could have a negative impact on businesses.
AI will not replace marketers, but AI can be used by them to make better decisions about their clients’ business’.
3 Artificial Intelligence Tools that Digital Marketers Use
The backbone of the AI tools we use is a piece of Artificial Intelligence technology called: GPT-3.
GPT-3 is the latest in artificial intelligence technology created by OpenAI, a company that started with natural language processing and built text generating algorithms using deep learning.
Here are a few tools for you to use to improve the efficiency of your daily tasks using GPT-3.
INITIATE.AI – Repurpose Your Written Content Into Engaging Videos
We frequently use a tool called Initiate.AI, which also uses GPT-3 as its backbone.
We’ve found that Initiate.AI is a great way to produce engaging content for our users, and the AI technology powering it offers some unique advantages not available in other tools.
Would you like your business’s written content to become more appealing and shareable?
Convert them into engaging videos by simply adding visual elements such as captions with subtitles, highlighting keywords through animations, and timed scrolling effects – all of which will help drive attention towards what matters most for your company; driving conversions that result in revenue growth.
Initiate.AI helps you create highly engaging videos automatically with minimal input needed from your side. Allowing you to expand on your digital marketing strategy by implementing video, without all the hassle normally associated with it.
Surfer SEO For SEO-Optimization
Surfer SEO is an AI-powered SEO tool that helps you find the best keywords for your blog posts & other content on your website.
With Surfer SEO you can search through millions of pages and find the most used keywords your competitors are using.
This helps us identify keywords that will increase the SERP rankings for our content, which in turn increases the number of visitors that visit our clients’ websites.
Let Surfer SEO help you take your SEO to the next level.
Viable – Qualitative Customer Analytics Software
Thanks to Viable’s AI software, our team can now find insights in customer feedback within seconds.
Before using Viable’s impressive piece of AI software, it used to take us a significant amount of time to find customer feedback insights.
But with their impressive customer insights dashboard, it only takes us seconds.
Just ask it any question regarding your customers’ feedback and Viable will find relevant customer data and summarize it into actionable insights.
This has been a game-changer for us.
What are Some Drawbacks with AI for Digital Marketing?
AI needs to be trained and re-trained constantly in order to maintain accuracy. This means companies need to stay current with AI technology as new information is constantly being discovered and AI needs to be able to process that data.
It can’t handle certain tasks such as human interactions and maintain genuinely complex interpersonal relationships. AI is not great at sensing or understanding emotions and it has a hard time reading facial expressions for example.
There will most likely always be some form of human intervention needed for AI to be truly successful.
So don’t expect it to just churn out a marketing strategy on-demand without the need of an actual marketer…
How AI Can Be Used to Grow Your Business
Let’s dive into how AI can be used to help your business grow in a number of ways.
AI is being used by many companies as an integral part of their sales processes; it’s been found that AI actually helps increase the likelihood and speed at which deals are done.AI could even replace some human jobs in the future!!
Some Examples of How AI Can Be Used in Your Business
Now that you know what AI is and how it works, I believe it’s a good idea to give you some practical examples of how it can be used in multiple aspects of business:
- It can be used as a virtual assistant that helps with customer service.
- AI is used in content moderation and spam detection. AI can also be used by businesses like Skype, Amazon, and Apple’s Siri to process user requests. The tasks these companies ask AI to complete are completely context-sensitive!
- AI can help your business grow by using AI to better target and segment customers with personalized ads.
- AI is often able to predict the future, which means it has a level of insight into what will happen next. This makes AI very attractive for companies because they know how marketing campaigns will perform before running them.
- AI is changing the way traders analyze the stock market. It is being used as a tool by large hedge funds, which helps them predict trends more accurately than before.
- Health care professionals are increasingly adopting AI into their practices to make diagnoses faster and easier for them.
The above list is already quite extensive, but that’s only a small portion of what AI can do for your business.
AI is one of the most exciting technologies to emerge in decades.
It has been a complete game-changer for many industries and will continue to bring about change as it becomes more prevalent on a global scale!
How Can Digital Marketers Use AI To Increase Efficiency in Their Day-to-Day Activities?
Now, here is where we get to the really important stuff. How can we implement Artificial Intelligence to help us with the tedious daily tasks we don’t like doing?
AI can be used to automate tedious tasks, which saves money on hiring new employees in the long run.
Think of AI as a virtual assistant.
Artificial Intelligence can help with tasks such as customer service or content moderation. It could also be used to create personalized ad copy for customers, which would save marketers a lot of time and effort!
By using AI in your day-to-day activities as a marketer you’ll have more free time to spend on other important things that need doing. AI can help you stay on top of your game and not worry about the little things.
Imagine how much more enjoyable your day would be!
A Collaboration Between Humans and AI
Technology will continue to grow and AI will play an increasingly large role in society.
As AI gains more ground, the importance of human interaction with technology increases as well!
It’s not something that can do everything for us without any input from humans. AI requires human guidance all along the way whether it be through training or by making decisions for the AI.
The future of AI will likely involve more collaboration between humans and machines as well as an increase in personalized content tailored for each individual user’s preferences.
We can’t predict what all AI’s capabilities are going to look like in a decade from now, but one thing is for sure: Artificial Intelligence is reshaping the way we think about digital marketing.
Conclusion: A Future AI-Driven World for Marketing
AI has already made a profound impact on Digital Marketing and it’s only getting stronger as the technology advances.
It’s hard to tell yet where AI will lead us to! It’s still early days but there have been many fascinating developments so far.
Google has recently developed an AI that outperformed humans on certain tests of intelligence, beating out specialists like world chess champions or Go players; Another example would be DeepMind’s system AlphaGo Zero which mastered playing Starcraft II.
It’s hard to imagine where AI will take us in the future, AI could be used to do anything from writing novels or composing music all on its own.
Although it is hard to imagine what its exact scope will be in the future, human skills developed as a result of evolutionary processes will be harder to mimic.
Even if robots can generate art pieces now, I’m not yet sure if I would like to live in a world where we as a society count on AI’s art appreciation as an art critic in the future!
Using AI Still Needs Human Input and Surveillance!
Marketers will always oversee AI’s work: AI should never replace marketers but rather be used as a tool to help marketers do their job better.
AI will most likely never replace humans!
Yes, AI has the potential of being an incredible weapon in a digital marketing strategy, but it needs careful use. AI should be used wisely, responsibly, and in a skillful way.
Human intelligence is still needed as there is no replacement for human creativity, desire, and vision.
In the end, AI is just another great way for us to make our jobs easier and more efficient.
Let Brenton Way’s Digital Marketers Assist You With the Help of AI
We have implemented AI into our services, and we now provide AI-based services to our customers. This enables us to work more efficiently and get you the best results in a shorter period of time.
AI is an incredible help to us and we are happy to utilize AI as a tool to enhance our services.
Just send us a message and we’ll gladly discuss how we can employ a digital marketing strategy for your business using the help of our advanced AI software.Interested in learning more about Digital Marketing? Gain new insights by reading our article on why you should Digital Marketing seriously.