Artificial intelligence (AI) is changing how businesses run, including banking, engineering, healthcare and transportation. AI also has potential for digital marketing, where it can support targeted, interactive advertising.
Understanding big data
AI can work with big data to help develop business strategies, analyse new markets, reach customers, advertise products, optimise workflows and reduce costs. Businesses collect data on consumers from cookies, social media and customer surveys. The more data, the closer the outcomes are to real life.
Increasing personalisation
AI lets marketers personalise products and services. Voice assistants such as Amazon Alexa and Google Home let customers request products and help by voice. By interpreting data to understand consumer behaviour, marketers can tailor campaigns to specific customers. This can:
- Increase automation
- Improve cybersecurity
- Reduce costs
Adding value to the business
Companies use AI to personalise product recommendations, find production anomalies, personalise marketing, automate operations, and detect fraud and cybersecurity breaches while saving cost.
What does the future look like?
AI and robotics are being considered as solutions to the global labour shortage. There is debate about the downsides, and jobs such as copywriting, coding and customer service could be affected. ChatGPT was the example cited when this post was written.
Does AI have drawbacks?
- Higher deployment costs. AI deployments generally cost more than other SaaS solutions and take time and outside expertise to finish.
- Needs technical expertise. AI applications still need regular human input, and some organisations rely on managed service providers to keep them running.
- Too much automation. Over-automation removes human judgement from operations, which can hurt organisations that need to stay agile.
