Artificial intelligence or cognitive technology is by far the next big thing. The applications are limitless from retail, banking, finance, marketing, manufacturing among others. But, the adoption of artificial intelligence is being met with fears of job replacement.
For the online business person, Artificial Intelligence will bring a new dimension to how you do business. It will take over the process of marketing, leaving you to focus on providing customer support, and driving your business forward.
How Does It Work?
The technology is powered by big data available on the internet. It searches through, billions, of unprocessed data, to draw insights, which you as a marketer can use. Unlike, existing software tools, limited by the data they can access, Artificial Intelligence will have access to all digital channels, and provide comprehensive insights into your marketing strategy.
What are the Potential Applications of Artificial Intelligence?
Cognitive technology is here to automate tedious task marketers do: These may include:
Selection of the Marketing Channel
Through new algorithms, you can know which marketing channel is most appropriate for the business. It analyzes the website and the products, to determine where to run your marketing campaign.
The new artificial intelligence tools only require your site’s URL to function. By making this process automatic, it can save you costs of using channels that don’t generate traffic.
Image Recognition
Pictures are the first thing the customers see before engaging with the ad, by reading the copy. New algorithms can analyze separate objects in an image. For, instance, the AI can allow customers to search for a dress they have spotted on a model.
The algorithm will comb through pictures on the web, and provide users with a list of online businesses selling the item. Also, the AI can recognize objects in a video. This feature could change the way users interact with your ads and website.
Content Creation
The AI can allow marketers to generate an advertisement automatically. It can come up with ad banners, select the image, and write the copy. This feature can reduce the time you spend creating the perfect ad, and hasten the implementation of the marketing strategy.
During content creation, the cognitive technology will write content that is not plagiarized, and readable; however, the quality of writing is not that good, but they are available services that generate articles in seconds.
Customer Support and Chat Bots
Part of your marketing strategy must involve creating better engagements with the customers. Once you drive thousands of people to your website, they have many questions which a chatbot can answer.
The chatbots have machine learning capabilities and grow smarter with each user interaction. However, there is the need for human supervision, to provide extensive replies.
Sales Forecasting
Before launching your marketing strategy, you must predict future sales. The AI can use historical data to know your business and potential customers for generating scenarios, analyzing risk and prediction of outcomes of the strategy.
The cognitive technology is not aiming to replace markers but to automate tedious, time-consuming and complicated tasks. The technology is still at infancy but, in the future, it will be the real deal. For example, Google is perfecting their algorithm to create a personal assistant.
