The impact of Artificial Intelligence is materially impacting nearly every industry and field of business. From self-driving cars to smart homes, consumer expectations are growing and demand for more intelligent interactions is at an all-time high. These higher expectations come with broader market opportunities to create new products, which have been appearing at an ever-increasing pace over the past decade.
Marketing technology has seen a particularly high adoption of these new AI concepts and techniques. Best practices have been changing drastically as successful companies rely more on data and automation, rather than just ideas and gut feelings. This machine learning based AI introduces a new goal for marketers - relevance at scale. From a product perspective, machine learning AI means that the adaptation of processes will continue to improve and adapt with every new consumer learned habit. This concept will provide the ability to target users with more personalized messages, at better times and intervals, and with more impact. All of this with quick cycle-times and vast scale.
As we rely more on data, we don’t necessarily interpret it in the same exact way. Traditionally, we get emotionally attached to our personal comprehension, eliminating the possibility of finding the “other side of the coin”. With machine learning concepts, the future of AI should guide our best ideas based on data, phasing out emotional involvement and allocating much needed time to focus on areas where human input is needed most. These new marketing products will fundamentally alter and improve our ability to drive value through marketing.
The importance and inevitability of these new products can be explained by the growing expectations of consumers. The demand for more sophistication in marketing personalization is only increasing. Fortunately, existing data provides opportunities to create truly data-driven marketing content and workflows. Companies that adopt or productize a high degree of personalization and sophistication using machine learning will succeed in this space over those companies that don’t. Current opportunities are extremely accessible to attain some level of machine learning due to the nature of marketing data, which tends to be high quality and remarkably structured.