July 15, 2024

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Artificial Intelligence in Marketing: Current Trends and Future Perspectives

Late last year, Chat GPT took the world by storm and has since remained on top of conversations in almost every sector you can imagine. The extraordinary chatbot raked in over 1 million users within just five days of its existence—a massive feat by any measure.

Inarguably, the technology behind it is profound, and its capabilities are staggering. But the most important outcome of its epic launch is a renewed focus on the unlimited potential of artificial intelligence (AI), particularly among marketing professionals.

The truth is, AI-powered tools have been in existence for many years now. But Chat GPT revived interest in the abundance of opportunities these tools stand to create for marketers. So, what are the current AI trends in marketing, and what would the future look like? The answers to these questions will hold important insights for businesses to start strategizing. But first, let’s explore what AI is. 

Artificial Intelligence Explained

According to Britannica, AI is “the ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings”. In other words, it is about simulating human characteristics and behaviors.

Artificial intelligence is not a new concept. However, until recently, it has largely been limited to applications in high-tech environments and hardly in real-world scenarios. For ordinary individuals, it has remained a relatively unfamiliar and abstract notion, seen only in sci-fi movies.

Of course, science-fiction authors have long warned the world about the impending threat of machines that might take over jobs and infiltrate every aspect of human life, ultimately taking over the world. The launch of Chat GPT also stirred conversations about threats to certain marketing jobs. But AI is not the same as human intelligence, and it could create more opportunities than threats when applied effectively.

Businesses, especially marketing teams, stand to gain much from AI, especially in terms of efficiency gains and cost savings, which could ultimately translate into phenomenal financial returns.

AI Trends in Marketing

Here are the top AI trends to watch this year in the marketing space.

1. Increased use of predictive analytics 

AI-powered predictive analytics tools allow marketers to track, organize, and analyze data in ways unimaginable. This goes beyond simple human capabilities.

For instance, marketing teams can automate their customer relationship management (CRM) process—from capturing and analyzing data to generating reports with actionable insights. As a result, they can enjoy improved decision-making, make forecasts with better precision, and optimize their marketing strategies with real-time data input.

2. Adoption of AI-powered lead generation tools

The popularity of artificial intelligence has led to an increased focus on AI-enabled sales tools for lead generation.

Leadar is an excellent example. The popular sales intelligence platform deploys AI technology to analyze and organize large volumes of data records, allowing businesses to generate leads based on multiple profiling criteria.

LinkedIn does a similar function with its Sales Navigator tool. It uses AI algorithms to analyze a range of factors—from industry and profession to activities on its platform—to identify candidates who would be most receptive to a particular sales pitch.

3. Improved personalization of customer engagement

AI has taken customer engagement to the next level, making it an essential element of how businesses communicate and interact with potential and existing customer segments.

The powerful data-analyzing capabilities of AI tools allow marketing teams to identify and segment customers with greater precision. They also enable businesses to improve customer engagement by leaps and bounds using conversational AI, automation, and other technologies.

Soul Machines, for instance, has transformed customer interaction with AI-powered digital humans that bear a striking resemblance to their human counterparts. By interacting with audiences 24/7 in multiple languages, these human-like chatbots allow companies to target potential customers from all over the world.

Digital humans are also equipped with facial recognition technology to identify human expressions and emotions and respond accordingly. Companies such as BMW, Mastercard, and Heineken already use such technologies. They present new opportunities for improving client relationships, upselling products, and creating personalized and consistent customer experiences.

4. The popularity of voice-enabled search

Voice search continues to be a priority in the AI-enabled marketing space in 2023. It will play a major role in how marketers optimize their content for search engines.

From Alexa to Siri, advanced voice assistants with search capabilities have already transformed how customers find information about products and services. This trend will become a norm in the near future, and marketing teams will need to gear up to make the best use of it.

5. The rise of AI in advertising and social media

AI is also seeping into critical advertising and social media activities—from buying ads and scheduling social media content to tracking campaign outcomes so businesses can improve their performance. Sentiment analysis, in particular, is critical for social listening, monitoring engagement, and better understanding customer behavior.

6. The use of augmented reality

Top brands have already started investing in augmented reality (AR) as the lines between the cyber and real worlds blur. AR allows businesses to create immersive experiences for their customers, bridging the gap between in-store and online shopping.

The Future of AI-Driven Marketing

Artificial intelligence will become an even more critical part of marketing strategies in the future. The countless conveniences of AI-powered tools will drive adoption by consumers. This naturally makes them a priority for marketing teams as well.

Besides, the ease of integration and impressive efficiencies of AI stand to make it an appealing proposition for businesses. And as adoption accelerates, you can expect greater affordability and improved accessibility. This will create even more interest, leading to an ever-expanding range of exciting AI tools and applications in every sphere of human existence.

To Conclude

Despite long-standing fears of machines taking over the human world, artificial intelligence has been greeted with much vigor and enthusiasm in recent times. Adopting AI technology has become imperative for marketers to remain competitive as consumers transition into a new tech-enabled world.

From predictive analysis to AI-powered lead generation platforms, marketing teams now have a new arsenal of technology suites to deliver an improved experience for their customers and accelerate their marketing performance. However, building awareness and embracing critical trends in AI technology will be crucial for them to remain relevant.

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Bradley Morris

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