Can AI Redefine Marketing?

If content can be generated and interaction can be created using technology, everything else can be made possible whether it is marketing or any other commercial sphere. When we understand the value creation Artificial Intelligence (AI) provides, the utilisation becomes easier - the challenge is to understand how to use it, said experts.

AI is a vast sphere. From a marketing point of view, there's Gen AI which generates images, videos, text and few other media through a prompt eg, ChatGPT which operates on LLM model. 

“To personalise media, Gen AI has a great utilisation. In HP, we are not using a large language model (LLM) model or ChatGPT for brief or content generation, instead we have a sandbox. We are creating a small language model (SLM), which is learning HP’s brand image, tone, communication behaviour. Subsequently, we will integrate this SLM with LLM to generate the personalised content for the HP. To use any large model like LLM, it should be trained in a way that it gives you a right contextual solution for your problems,” said Saurabh Pandey, Head, Commercial Marketing, HP India.

Data science is essential to comprehend the complications associated with the AI, whereas marketers are responsible to understand its use cases, data repository to be used to generate content and the accurate prompts. 

Speaking at the 18th edition of the BW Marketing Whitebook Summit, Atit Mehta, Marketing Head, Byju's said, “Education has no seasonality and students learn at a different pace, hence the challenge is all about personalisation and hardcore customisation. There's Generative AI and Analytics AI and the latter one is pivotal in edtech.” 

According to Mehta, a comprehensive understanding of AI's complexities lies in the hands of data science teams. He stressed, "Data science team is essential to comprehend the complications associated with AI. Whereas marketers are responsible to understand its use cases, data repository to be used to generate content and the accurate prompts."

Mehta also shared an instance emphasising the critical role of accurate prompts, cautioning that AI's output is only as good as the input it receives. 

Analytics AI has already penetrated in the market to enable hyper-targeting and hyper-segmentation. This hyper-personalisation avails to choose the right media and the right content for the right audience. This also significantly reduces the media and production cost and subsequently enhances returns on investment (ROI), added Pandey.