Artificially intelligent systems work all the time in the background of popular products and services such as Amazon, Netflix, and, naturally, Google. However, in the past few years, AI has made its way deeper into marketing, assisting brands to improve every step of the customer journey. Furthermore, tools that were previously available to enterprise-level companies have become affordable and accessible to medium and small-sized businesses.
There has been a drastic improvement in artificial intelligence (AI) over the last decade. AI has been developed in marketing to provide detailed insights into consumer behavior, while simultaneously automating processes to enable marketers to concentrate on accomplishing business goals. AI improves and becomes more proficient at comprehending humans, the companies’ ability to deliver and insightful marketing campaigns also increases.
What is Artificial Intelligence?
In a nutshell, artificial intelligence (AI) is a technology that is meant to imitate human psychology and intelligence. It is a computer science field focused on creating machines that seem like they possess human intelligence. We call these machines’ intelligence “artificial” because humans create it, and it does not exist naturally.
Machine learning (ML) is a popular subset of AI. ML algorithms are computer-implementable instructions. They take data as input and perform computations to discover patterns within that data and use those patterns to predict the future.
An ML model improves its performance over time as it encounters more and more data and self-corrects on making mistakes to reduce the chance of repeating them in the future. ML is mostly used in systems that capture huge volumes of data. In marketing, this data is of your customers.
Marketers have plenty of data from lots of different sources. The insights buried in that data is likely to be pure gold. However, it requires serious time and money to extract those insights — if it’s even possible to get them in the first place.
It is where AI and ML come in. AI is an umbrella term for a range of technologies that allow machines to do cognitive tasks such as writing, moving, reading, seeing, or data analysis.