Growth of AI and technology in advertising
By Anil Solanki
Every day, technology evolves. For several years, many things can change, especially with regard to popular artificial intelligence technologies. The same goes for AI applications in marketing. Understanding the fundamental concepts underlying AI applications in marketing solutions can inspire original concepts that can be pioneered in new fields in a variety of companies.
Entrepreneurs around the world use artificial intelligence to improve their business operations with technologically advanced marketing strategies. Artificial intelligence is revolutionizing the way we think about marketing in a wide range of companies, whether by analyzing customer interests and data, directing sales decisions, social media campaigns or other applications.
Artificial intelligence is definitely changing the way we view marketing, especially today. It will not be a big deal to say that if a company does not use AI for digital advertising / marketing, it is at a competitive disadvantage.
But why do we need AI in advertising?
If anyone wants to succeed in the new world of contemporary programmatic advertising,
AI is a necessity.
We can now reach consumers through hundreds of digital platforms through the Internet and programmatic advertising. In addition, we can target them based on countless demographic and behavioral data points. We can even test tens of thousands of different ads to find out which ones have the best answer.
AI can help automate tasks to increase business productivity. Accenture estimates that the use of AI can increase corporate efficiency by 40%. This way, your company can save time and money while concentrating its efforts on providing customers with high-quality experiences instead of wasting too much time transferring information between spreadsheets. This technology helps companies significantly increase return on investment because it can significantly accelerate the execution of marketing efforts, reduce costs, and increase efficiency (ROI).
With AI, companies can:
- Buy and place programmatic and digital ads
- Help conduct targeting marketing research that can lead to greater efficiency in improving sales
- It helps in predictive marketing analysis and personalization that can lead to greater conversions by having a clear understanding of the target group’s personal expectations.
- It is used to analyze consumer interests, global events, and other sources to determine whether there will be an increase in dynamic prices and the forecast of demand for a particular product.
- Helps generate content automatically
- Used for language optimization for email marketing
Advertising and marketing strategies are constantly changing with the changing patterns of the world. Technology is bringing the new paradigm shift in the growth and relevance of advertising / marketing now more than ever. However, in the end, creativity and innovation will define how AI will work in marketing technologies. Companies can compete with other major market competitors for years by merging various technologies. In order to upgrade the business and stay relevant and competitive in the market, it is at least necessary to understand what is already being used and the AI has come to stay.
The author is an expert in branded media. The opinions expressed are personal.