What's the Hype About AI? Why It's the Next Big Thing in Digital Marketing
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January 11, 2023
The world is buzzing right now about Chat GPT. If you have no idea what that is, don't worry, it will show up on your newsfeed soon enough, but what captured our attention is how people from every industry and background are getting worked up about one common topic – artificial intelligence (AI). So, let's talk about what the hype is all about and why AI is not just another marketing fad.
If you asked 10 people what artificial intelligence is, you’d get a mixed bag of answers, but the common denominator lies in augmentation. AI allows people to do more – fast! – completely revolutionizing how we integrate information, analyze data, and improve decision-making. While the technology has been around for decades, it's only recently been adopted at scale. AI is currently being used across a wide range of industries to solve specific problems. To put it in perspective, here’s a short list of ways companies are taking advantage of the technology:
AI works by combining large amounts of data with fast, repetitive, and intelligent algorithms allowing software to learn from patterns and features within the data. More specifically, AI can:
So, how can businesses benefit from AI?
Businesses now have an unprecedented amount of data that they can get greater use out of than ever before because it’s affordable. When done right, AI can supply great value to your marketing plans. Automation can cut costs and bring new levels of consistency, speed, and scalability to business processes.
It’s not just about efficiency or streamlining tasks, either. Thanks to the machine and deep learning, AI’s ability to self-learn and perfect means it helps businesses adapt with velocity with a continuous stream of insights to drive innovation and have a competitive advantage. Ultimately, AI can become a key asset of your strategic plan and survival.
In fact, Accenture reports that 84% of business executives believe they will need to use AI to achieve their growth objectives.
No matter where you’re at in the AI journey, know that there are countless ways to incorporate it. In order to find out what to focus on, begin defining what your business value is and then assess what AI applications would achieve success for that value.
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