Today, we can consider Artificial Intelligence (AI) as one of the hottest topics in business, including the marketing department. Every event or conference seems to organize sessions and panels around the subject. There’s little to no doubt about the fact that this trend will remain a great interest in 2018.
If we think about marketing and machine learning, we can think of the continuously increasing number of affordable and accessible advanced data analytics tools. This is now combined with access to enormous amounts of data sets. The marketing world also seems to be more aware of the potential power AI can procure. The data-driven approach is without a doubt crucial in the decision making process. Of course, it’s not entirely new. However, we are at a moment where everyone is thinking and talking about how this evolution will change the way marketing works.
The tools we have today facilitates the data-driven approach, but the data itself are never perfect. There has to be an awareness that marketer’s interpretations of those data will be misleading in some cases. The other great difficulty marketers will have to face is the amount of data sources and AI-specific tools at their disposal. The choice made between the different kind of software and technologies will be crucial in the overall success of the marketing strategy.
These drastic changes will affect the nature of marketing work. This does not mean every marketer will become a data scientist, but the technical aspect will certainly require more focus. How can a marketer advertise on these new platforms? How can we still apply traditional marketing knowledge? How do we approach such complex algorithms? To answer those questions, there will be a need for a more visionary approach, a real understanding of what AI is and how it impacts the market and the relationship with the costumer.
In the end, critical thinking will be central. If a big marketing branch is letting technology get too far ahead, the results will only be negative. On the other hand, there’s a danger that AI can suffer from its increasing popularity. If we start applying tools just for the sake of it, without any real strategic reflection, no real value will be created. And that is exactly what the integration of those tools are about: value-creation.
Start building your AI strategy and create value today.