“Some people call this artificial intelligence, but the reality is this technology will enhance us. So instead of artificial intelligence, I think we’ll augment our intelligence.” —Ginni Rometty
Artificial intelligence (AI) is a term that for the most of us has only existed in sci-fi movies. Today, AI technology has become one of hottest buzzwords in the industry, especially for marketers. According to the 2017 Economist Intelligence Unit Report “Artificial Intelligence in the Real World”, 75% of business executives surveyed said their businesses will actively implement AI by 2020. From enhanced decision making abilities, improved customer service, revenue and operating efficiencies, to the potentially disruptive effect that AI might have on employment, artificial intelligence will profoundly impact and change how we operate.
But why now?
We are living in a time where “data” has surpassed the value of most things in our economy. Good, reliable data has the power to transform jobs, industries and even our planet. But how does all this data get processed and analyzed? Well, that’s where AI technology and machine learning comes in…
The amount of data that is available is astronomical but data purely on it’s own is indecipherable for most of us (including marketers). The power of big data has intensified our research into creating new and faster ways data can be analyzed, processed and acted upon… and that’s why AI technology has become so important. In order for us to leverage data faster, we’ve created and trained machines (AI) to process data faster, smarter and more efficiently. Because more and more data is being produced and collected every day, the ability for us to lean on machines is vital. AI technology has the power to process data much faster than humans but can even learn and optimize on the job.
As a marketer, how does this impact your bottom line?
Quoting Salesforce’s recently released “State of Marketing” report, marketing leaders say AI is the “leading technology where marketers expect the most growth in the next two years”. In a nutshell, AI and machine learning have elevated the way we harness the power of data to produce actionable insights, giving us new tools to achieve Brand goals. Whether we are talking about higher personalization, better and deeper consumer intelligence, higher speed to market, etc. AI-powered marketing strategies have the ability to drive better results and help marketers take their brands and consumer engagement to the next level.