AI and the future of marketing

AI technology can be harnessed to improve a marketer’s core responsibilities: understanding customer needs, matching them to products and services, and persuading people to buy. By collecting large data on customers, AI can build machine learning and predictive algorithms to create personalized product recommendations, content, communication, and acquisition strategies. 

As the article states, “it [marketing] is the single business function where it [AI] will have the most financial impact.” There are several opportunities to use this technology to develop creative experiences and expand the reach to customers. In fact, AI is already being used for narrow tasks in many marketing with tools like email marketing platforms and search engine advertising solutions. 

 AI is not usually associated with creativity but there is a lot of potential to innovate traditionally creative campaigns. By understanding data and analytics, and utilizing AI, campaigns can become scalable, repeatable and accountable. However, only 17% of digital marketers are using AI/ML broadly across the marketing function.  There is a common coordination problem in the marketing departments that there is no ownership of who is leading the AI efforts. 

While AI is mostly for narrow tasks, there are substantial benefits for marketing activities but companies should start long-term planning to build out a strategy and AI capabilities. Marketing firms that use AI need to have a strong market sense and analytics capabilities to maximize the technology potential and overcome any AI limitations. Companies should invest in these capabilities early so AI become integrated into a marketing group’s DNA.