The Use of AI in Marketing & Advertising
As the world is revolving around artificial intelligence (AI) to drive the next trend of economic growth and technological advance, China has previously positioned itself as a key player. While it had to watch the processors powering the digital era we reside in nowadays, it is now the leader in the growth of what could develop the most significant scientific discipline of the future!
China has all it requires for AI
The debates why China is mainly well-positioned in this race live in the benefits it has in three important factors required for AI:
Computing Power – The best two fastest computers on the planet are situated in China.
Talent – As per Elsevier’s Scopus record, researchers in China printed about 41,000 papers on AI from 2011 to 2015. This is nearly as many as the second most productive nation in terms of volume, which is namely, the United States.
Data – With an internet population of about 710 million, China people produce terabytes of data on a daily basis. This helps feed the machine learning systems required to generate such intelligence.
Media and Advertising the Perfect Playgrounds for AI
The uses of AI in advertising and media are as diverse as there are abundant, varying from content curation and creation, ad targeting, or dynamic pricing, over fraud prevention, product recommendation to web/app personalization, sales forecasting, and programmatic buying. More concretely, Publicis Media’s content forecaster hires machine learning processes to help operators predict the rankings of future TV dramas.
Then, through the mixture of diverse AI technologies, customer experience could be brought to the next level. For instance, a client arrives a store where an image recognition usage identifies her fashion style. The report is then fed into another system that practices the likings of customers with alike tastes to recommend specific products, or else to bring the most appropriate content via in-store displays!
Opportunities and Challengers for Brands
Given the significance of accepting human behavior in marketing, it is barely astonishing that promoters are also putting a lot of sweat in building in-house AI capacities! With advantages including leaner marketing operations, cost savings on ad serving and enhanced customer engagement through customization, the ROI prospects are pretty interesting!
Altogether, nevertheless, one should remember that attaining AI maturity involves talent (for the creation of systems, also the training and appraisal of models), software (data assortment and processing), and heavy financings in hardware (computing power)! Additionally, as in the case of human intelligence, artificial intelligence requires time to advance!
Consequently, businesses and brands should fight the temptation to jump the gun and as an alternative, carefully advance towards AI! Essential steps on this path may contain the implementation of integrated analytics and the automation of basic data processes. This is exactly where advertising groups can help their consumers, both as execution partners and trusted advisers!
