Unlocking The Power Of AI In Marketing
With Artificial Intelligence (AI) booming globally, the adoption of AI is at the core of building businesses and profits. But how is AI enabling brands and agencies to deliver highly personalised content to consumers?
AI’s Dominance In Advertising
Like any other industry, the use of AI is transforming the advertising space rapidly and according to reports more than 80 per cent of the industry is integrating some form of AI for their online marketing activities. Highlighting this, Anvesha Poswalia, Head of Digital & E-commerce - Home Care, Unilever said, “AI helps to add a personalised touch to advertising campaigns.”
“One of my recent AI use cases underlines using a popular celebrity voice to reach around 1.6 billion people in just one click,” she added.
Speaking on similar lines,Vikram Jeet Bhayana, Head of Marketing, Bajaj Allianz General Insurance said, “We were able to reach our clients efficiently by using this digital uptake. The AI technology helped us connect with our consumers on their birthdays and anniversaries in a span of a few days, which was otherwise impossible because calling would have taken longer time, and half of people don't answer unknown calls.”
He stressed that with the AI messages his company was able to send WhatsApp, emails and SMS and they connected with almost one lakh agents.
Last year, AI’s market value stood at USD 20.82 billion and this year it is booming at USD 27.37 billion, according to the AI Marketing Statistics 2023 report. The report also predicted a USD 107.54 billion market value for AI by 2028.
Source :AI Marketing Statistics 2023 report
AI Marketing Obstacles
While the use of AI in marketing has increased recently, there are still issues that prevent its widespread acceptance in the marketing industry. The aforementioned report also mentioned that nearly 45 per cent of marketers are AI marketing beginners, with 63 per cent highlighting education and training gaps as the main obstacle to their AI adoption, while just 11 per cent are identified to have formal AI-focused education within their companies.
Source :AI Marketing Statistics 2023 report
Prateek Dubey, Head of Google Marketing Platform (DV360) said that as marketers and practitioners, the responsibility is to keep the customer value at the centre and be derivative, which has heavy application, search videos, or cross product reviews which eventually add value.
