The second instalment in the Future of Digital Marketing looks at artificial intelligence, or AI. The phrase ‘artificial intelligence’ generally conjures up thoughts of malevolent computers in space, or of humanity-destroying robot corporations, however we humans are becoming closer and closer to achieving true AI.
While the jury is out on the official definition of the term, most agree that AI is essentially the process of a computer becoming ‘intelligent’, or independently using information to learn and solve problems. Running the risk of stripping this advanced science to it’s absolute most bare-bones form, AI uses machine learning to read and use algorithms to effectively tackle future problems, with no need for prior programming; the computer is completely independent and pretty much mimics the human thought process.
The potential applications for this are innumerable; not only can a computer think pretty damn quickly, they’re only going to get quicker. Pair this with a computer’s ability to access the biggest (and growing) source of information ever – the internet – you’ve got yourself a pretty powerful thinker.
Marketing specific applications here are also vast, here’s just a few:
Chatbot help-desks – the days of long wait times to talk to a human customer service technician over the phone to (hopefully) solve an issue are waning. Advancements in AI mean that more and more of these tasks can be automated to a higher degree of accuracy, resulting in less waiting time, and more customers served
Hyper-dynamic pricing – based on the time of day, time of year, local/national/international events (and any other factor deemed important), a computer can alter the price of something to be optimised to a situation with any desired outcome (growth, maximum profit per unit, etc)
Self generating content – expanding on the adaptive websites talked about in the last post, a computer will eventually be able to generate any form of digital content, be it video, websites, music, advertisements, to fit any need deemed important by the computer.
Undoubtedly, computing and marketing in the 21st century are already beyond separable, and with the increase in machine learning and AI, the tools available to marketers are getting more and more powerful. Do you think AI is here to stay? Have your say in the comments.