How will Machine Learning and Artificial Intelligence impact the marketing in year 2017 and beyond?
over 6 years agoAnswer it
over 6 years agoMachine Learning and Artificial Intelligence impact the marketing in year 2017 and beyond in many ways leading to the increase in the revenue of a company by impacting its core business functions.
What is Machine Learning and Artificial Intelligence is ?
Artificial intelligence is the theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.
Today, companies are using artificial intelligence to automating existing work and to do new work, which is cheaper and more powerful AI(artificial intelligence) makes possible. And according to the Wall Street Journal, CIOs are saying the day is fast approaching when machine learning begins to impact core business functions.Artificial intelligence(and machine/deep learning) is the hottest trend, eclipsing, but building on, the accumulated hype for the previous “new big thing,” big data. The new catalyst for the data explosion is the Internet of Things, bringing with it new cyber-security vulnerabilities. The rapid fluctuations in the relative temperature of these trends also create new dislocations and opportunities in the tech job market.
1)First, you need large volumes of historical data. You can train a puppy with a bag of treats. To train a machine learning algorithm, you need reams and reams of human-corrected data.
2)Leveraging AI techniques, companies can move customer relationships beyond superficial to deeper, more meaningful interactions and experiences that engage customers at unprecedented and hyper-personalized levels such as proactively delivering an ad to a consumer on a smartphone that is of high interest to them.”
For example-The Toyota Research Institute is using artificial intelligence to make automobiles “safer, more affordable, and more accessible to everyone, regardless of age or ability.” But machine learning and deep neural networks can do more than create self-driving vehicles. TRI is also working on robot assistants to help the elderly and differently abled stay healthy, and at home, longer. And is working to develop stronger, thinner, lighter, more flexible materials and etc.
“AI is more than just a fad,” “I think we are broadly entering the age in which technology will change fundamental aspects of society rather than improving prior functions and seeing changes around the edges,”
over 6 years ago
Artificial intelligence includes a lot more than machine learning. Machine learning has recently helped live up to a lot of challenges that seemed impossible with machine learning. Machine learning is actually used for many applications that might not be thought of as artificial intelligence.
However, both artificial intelligence and machine learning have already begun to dramatically impact marketing.There are many tools for lead generation and marketing automation. AI-powered bots and chatbots will grow in application and diversity for sales and marketing. Bots respond to customer queries with structured messages that include images, links and call-to-action buttons.AI and machine learning will certainly change all marketing trends and change the marketing future.
over 6 years agoArtificial Intelligence and Machine Learning are already taking the market by storm & increasingly becoming crucial to many industries, including marketing.
Some AI marketing applications currently in use:
The AI has transformed Google Search over the years. It not only helps you look for the right information but also right products on sites like Amazon.
Or if you look at Amazon's Echo, a device designed around your voice. In order to give a command or ask a question, Just say “Alexa”.
Or Japanese company Fanuc robots can learn how to complete a new task in eight hours with 90 percent accuracy.
Businesses are utilizing ML to predict customer loss and and how to get them back.
These two domains are transforming everything we thought we knew about marketing.
over 6 years agoMachine learning and AI advancements have surely pushed its boundaries in the present day and in the manufacturing industry and the financial industry it has shown significantly the greater aspects and has made it easy for the mankind but on the other hand, it has also cut short the man-force required for the job. Let's come to the marketing point of perspective marketing includes sales, advertising and to analyze and reach its potential market. Now people feed data in automated tools or ERP modular software to analyze the data and make a decision out of it. Due to which no data is lost as all the data is saved and can be used in future. For example take a look at the digital marketing how many tools already we are using such as FB ads manager, Google Adwords manager, Google Analytics to track the data in segmentation i.e. in demographic, language, the point of interest, age, ethnicity, gender wise etc. ERP Tools like GNU enterprise, INO are used to processing data by which a company (often a manufacturer) manages and integrates the important parts of its business. An ERP management information system integrates areas such as planning, purchasing, inventory, sales, marketing, finance and human resources. So I hope in the near future it will make huge advancement in marketing point of view and it will cut down the man force to track those things and also the file space of an office cabinet by half as it will be storing every form of data which can be used to make decisions in the present and also in the future.