July 30, 2018
Digital marketing is being hugely influenced by Artificial Intelligence. The technology is rapidly growing and we are witnessing the trend of AI altering the way conventional marketing was done especially the solutions to engage the consumers. The impacts of the technology are both positive and negative on the marketing world but in both cases, the technology is constantly emerging.
The marketers are definitely benefiting from the technology but it still has some limitations.
Benefits for marketers from AI
Though the technology is new in the field of marketing, it has shown great potential and has benefited the marketers especially data analysis experts. Ai is being utilized for predictive analytics by the marketers instead of prescriptive, the technology is currently answering the scenarios like “what can happen?”, but as it advances it will be able to tell the definite answers.
Other assistance include time-saving, targeting the right audience, customer engagement and dynamic content and pricing.
The existing limitations
The strength of AI is beyond doubt but the technology is still evolving it has a long way to go. Many wonder, that if the technology is yet able to serve its sole purpose or not. The market is tough and some minor solutions do not hold much value. Moreover, marketing is a field that hugely depends on human emotions, and as a marketer, it is important to react to the customer’s sentiments accurately. Obviously lacks behind here, it can be beneficial in predicting trends and user behaviours but afterwards, all depends on the marketer to comprehend the customer’s needs and act accordingly.
AI has all the potential to alter the ways of digital marketing and they are all quite intriguing and promising. The next step could be that AI solutions will independently understand the customer’s thought process and act accordingly. The question here arises that how independent it could be? As for now, the anticipations suggest human involvement to some extent. However, as stated earlier that the technology is still evolving we can keep the hopes high for a completely independent AI supported marketing system.
Scope in social media marketing
The amazing factor of social media is direct customer engagement. AI is predicted to enhance the process, by providing the insights into the customers, information about the influencers and rapid analysis for a better and fast reach.
Risk factors of AI involvement
Since its inception, the technology has been considered as a risk to the human race. The biggest fear is job retention and AI taking over a major chunk of human resource hence leaving a lot of them unemployed. Another risk is the machine error, as what would happen if we are too dependent on the technology and at some point, it messes up. The technology is definitely expensive to adopt hence not in reach of many, so, with all the unemployment and limited access things can get worse and the competition will become harder.