|As we get closer towards a brand new year, the next 12 months will be challenging for marketers, but rest assured it’s not “doom and gloom” by any means / Photo by: ammentorp via 123RF|
As we get closer towards a brand new year, the next 12 months will be challenging for marketers, but rest assured it’s not “doom and gloom” by any means, according to Phil Midwinter of MarketingTech, a news platform and a community for professionals interested in marketing strategy and technology. Marketers are expected to seamlessly tackle the increasing volatility, data regulation, and apathy towards traditional marketing techniques.
All these must be done along with having a robust, clear, and forward-thinking strategy to thrive in the marketing industry. Media consultancy firm ID Comms asked 177 marketing, media, and procurement professionals with a combined spend of $20 billion, as cited by Mahir Prassad of digital marketing platform ClickZ. ID Comms found that clients rate agencies as delivering “below expectations” across all of the firms’ core competencies. This could change with the help of AI.
AI Will Come to the Rescue, But It Won’t Take Over
There is an influx of data that needs to be analyzed in detail by AI, a task that no media planner could accomplish manually. Hence, utilizing this technology will enable marketing data analysts to work autonomously with AI. CilcZ spoke to Or Shania, CEO of Albert Technologies. Founded in 2010, Albert is an AI marketing platform for the enterprise that drives “fully autonomous digital marketing campaigns.” Shania saw the value of AI in the early days of conceptualizing his company.
He narrated, “I remember we were trying to create some kind of a methodology around running display campaigns and we were stuck in a loop.” His team wrote different rules for different permutations, but they kept getting stumped by a new instance. Fortunately, Shania’s friend suggested using machine learning. Together with CTO Tomer Naveh, they solved the problem easily.
Nearly a decade later, Albert has played the role of a media buyer around search and social, programming and reverse engineering it into a software. Hence, all decision-making and cognitive processes are done by Albert. But the idea behind it is not to replace any person. In fact, the company tries to accomplish tasks that machines can do better, while humans share their creativity and formulate strategies, something that machines cannot see or calculate. One of the disadvantages of using machines is that they can only make predictions based on past data, while humans can bring their vision to the table.
When Albert starts working with a team, they get scared, Shania noted. They don’t like it when they give away a part of their autonomy to a machine. Later on, they realize that they are doing tasks that more interesting to them and much more valuable to their company. Then, they start to see that all the tasks they hate doing are done by a machine. “So it’s perfect marriage in that sense, but it takes time for people to understand that,” Shania stated.
|There is an influx of data that needs to be analyzed in detail by AI, a task that no media planner could accomplish manually. Hence, utilizing this technology will enable marketing data analysts to work autonomously with AI / Photo by: everythingpossible via 123RF|
Be An Early Adopter of AI
Machine learning and AI can provide companies with insights into their current performance, resource allocation, and competitive landscape. Marketers can leverage these insights to further improve their performance in the industry. For instance, Microsoft found that early adopters of AI for business in the UK have seen a 5% improvement in performance, enterprise outcomes, and productivity, compared to other firms that have not leveraged AI’s capabilities.
With that, businesses should be prepared to embrace change if they want to plan for the future, wrote Shania on marketing technology news platform MarTechSeries. For companies to fully implement AI into their operations, they must “take an objective look” and analyze its impacts before taking the plunge. Planning requires curiosity, a comfort level for playing the game in the long-run, and a tolerance for measured risk. Change takes time and intelligent tools have a learning curve. Thus, the earlier marketers train an intelligent system, the more they’ll have the upper hand.
|Any job a marketer enjoys doing will be enhanced thanks to AI. Interestingly, roles will become more focused on the specific skillsets of a human, resulting in a more pleasant work-life balance / Photo by: Konstantin Pelikh via 123RF|
Let Machines and Humans Do Jobs They Do Best
Any job a marketer enjoys doing will be enhanced thanks to AI. Interestingly, roles will become more focused on the specific skillsets of a human, resulting in a more pleasant work-life balance. Hence, AI and machine learning should be the core of any large-scale transformations that marketing departments will implement. Firms need to remember that machines are still machines, Shania reminded. Autonomous tools still need the human touch.
Therefore, it is best to invest time in training AI and marketers on how to work together and leverage each other’s abilities. Remember, AI solutions and machines are “only as good as the input they receive.” Once the AI is trained, let it do its job, enabling marketers to focus on more important initiatives.
Focus on Autonomous Technology
An AI solution is autonomous when the technology enables marketers to work with it, rather than operate it. With that, marketers can test every idea, make informed decisions, and take action in near real-time. This allows marketers to be creative, enabling them to deliver more effective campaigns without the burden of doing repetitive tasks. Overall, autonomous intelligence has the power to bring humans back to work, not to eliminate or replace them.
There will be companies who might misunderstand the role of AI in marketing. AI is not here to replace humans but to collaborate with them to improve workforce productivity and life-work balance.