In order to thrive in such a competitive environment and achieve marketing success, businesses have to depend on many factors. Building the branding strategy, presenting an engaging content and intuiting people’s reaction regarding the message in contrast to their competitors.
Companies that have accurate consumer research, analytics, and comprehended data are more likely to achieve it because they possess better insight information.
Artificial intelligence (AI) and machine learning (ML) are probably terms that most people have come across and heard about. But what some people don’t realize is that these technologies can impact their industries significantly, especially in terms of advertising.
It is quite a new frontier, so it's not a surprise that some people are struggling to accept it, because adopting an ML solution without understanding what it truly does can turn out to bring inefficient and ineffective results. Some people might even think that Machine Learning is a magical elixir and it can automatically move the needle even if the team hasn’t chosen the solution for specific challenges. To avoid that, they have to look closer to these terms and its effect on the industry.
More like a human
AI is a technology that promotes a revolution in several industries, enabling computers to perform tasks that require a human brain and managing automated processes. In order achieve that, machine learning (ML) has to be used.
Machine learning has been defined as a system that contains smart algorithms that enables it to understand the data and to make conclusions and correlations from it. In other words, companies that use it effectively could be able to diagnose, predict and structure future steps, being able to improve the performance in terms of customer segmentation, extraction of relevant content, communication and over productivity.
What is more, the use of ML in advertising would be extremely beneficial as it makes correlations of the campaigns that a human brain can detect, replicates the brain of an experienced buyer as software and makes optimizations that the buyer would.
Indeed, it can be said that machines can do the “heavy lifting”, but it turns out that only 2% of businesses are acknowledging their full potential, the use of automation and the audience insights in order to distribute results (according to Boston Consulting Group). After all, the challenge is not reaching the right people but making sure they accurately reflect the current content of the website.
As technologies continue to move forward, computers will be making better correlations in a sense of understanding the interaction between people on one social platform with another, predicting that ML will get better throughout time.