The future of artificial intelligence (AI) has been on the front page of every news outlet for weeks now. Below, we’ll look at areas within the marketing and advertising industries that are already affected or soon to be further affected by AI.
The Who or The What
In the past, AI was an idea commonly found in Hollywood sci-fi films. Now, it’s a reality. The most recognizable player in the AI world is ChatGPT. ChatGPT has been mentioned as ‘disruptive’ and ‘revolutionizing’, among other terms, across every industry from education to economics. ChatGPT, an AI chatbot created by OpenAI, is described as “a conversational model, whose dialogue format makes it possible to answer questions, admit mistakes, and challenge incorrect premises,” [OpenAI].
Next is Bard by Google. Still early in its development, Bard is described as an experimental conversational AI service. “It seeks to combine the breadth of the world’s knowledge with the power, intelligence, and creativity of our large language models. It draws on information from the web to provide fresh, high-quality responses,” [Google].
Then there is MidJourney. This AI platform is a text-to-image model that can generate content via simple, text-based input. You may recognize the name Midjourney from an article back in September 2022 in which this AI was used to generate a first-place, award-winning image.
The Impact: Where and How
Personalization: AI allows companies to collect and analyze large amounts of data about individual consumers, which can be used to create highly personalized marketing messages and advertising campaigns. This helps to increase engagement and build stronger relationships with customers.
Predictive Analytics: AI can analyze large amounts of customer data to identify patterns and make predictions about future behavior. This can help companies target their marketing efforts more directly and effectively to improve their return on investment.
Chatbots: AI-powered chatbots are becoming increasingly common in the marketing and advertising industries, as they allow companies to interact with customers in a more personalized and efficient way. Chatbots can provide customers with information and assistance around the clock, without the need for human intervention.
Image and Video Recognition: AI can be used to analyze images and videos to identify objects, people, and even emotions. This allows companies to create more targeted and effective advertising campaigns that resonate strongly with their audience.
Voice Search: With the rise, and fall, of voice assistants like Amazon Alexa and Google Assistant, companies are increasingly using AI to optimize their content for voice search. This involves analyzing natural language patterns to ensure that content is optimized for voice queries, driving engagement metrics up while providing an incredibly low barrier to entry.
Artificial intelligence is likely to continue to play an increasingly important role in marketing and advertising, helping brands to better understand their customers, create more personalized experiences, and ultimately drive better business results.
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