There are many different opinions about AI when it is brought up in a conversation. In addition to Black Mirror, 2001: A Space Odyssey, and Ex Machina, Hollywood has caused many people to fear artificial intelligence. However, this perception of artificial intelligence does not consider one crucial element of the technology – when used correctly, it can revolutionize a business. The most important thing to remember when using AI for marketing purposes is that you ought to know precisely what you want to get out of it. You should ask the right questions and take calculated steps to get the most out of AI and better understand your consumers.
There is a significant difference between artificial intelligence and machine learning. The concept of AI is not about machines replicating human intelligence. Computational assistance consists of software and tools capable of processing large quantities of data rationally and efficiently. Using a specific set of criteria inputs, we can gather accurate information about your business goals based on a particular set of criteria.
Humans are prone to making errors; we might be able to scan a few websites, and we may be able to understand their content in a matter of minutes, but imagine if you could do the same thing for millions of websites. However, an artificial intelligence program could do this effortlessly, without errors, in seconds. There is a machine-shaped problem when tracking scale and skill across the web efficiently and effectively. To successfully market AI as a revolutionary technology, though it might seem quite complex in its intricacies, marketers need to consider a few things.
As you drive down the motorway, your car starts making strange noises and stops suddenly, and you suddenly realize you have put the wrong fuel in your vehicle. At this point, you turn back to the petrol station and immediately understand what has happened. There is no doubt that petrol and diesel provide the same service, yet they perform in a very different manners. You did not pay attention, and now you have an expensive problem to fix because you were not paying attention.
It is easy to imagine that an AI program will optimize and scale based on the data you supply, whether incomplete, faulty, or untrustworthy, as you can see from the example above. Thus, if you make decisions, execute campaigns, etc., you will make flawed, massively-scaled decisions and actions that will lead to costly mistakes.
When it comes to artificial intelligence, your organization should use the raw data it owns and controls within its AI systems because trust is everything in this area. As such, it is essential to insist on transparency and be clear about the incentives if you must rely on a partner to acquire some or all of your data.
Depending on the opinion of the CMO, what they consider true business success is the most critical piece of data input, as this will provide them with a benchmark for all future decisions they make.
It would help if you had a clear and concise idea of what you want to achieve and the signal you want to optimize to maximize accurate conversions. To optimize actual conversions, you need to develop a reasonable hypothesis about the relevant signal to your KPI. Alternatively, if you included all kinds of data and variables in your output, it would be messy and have no relation to tracking conversions. Be aware of the potential consequences of your actions.
It is common for people to worry that AI will become sentient, steal jobs, and possibly take over the world – however, these are not realistic outcomes that AI could have. Many adtech companies placed ads at the top of websites to gain more views. However, a few years ago, people shuddered at the word “viewability”. It became apparent that there was a severe flaw in artificial intelligence when every ad below a certain point was rendered useless and massively diminished in value. The result was that we had to make significant changes in AI.
The tools behind Artificial Intelligence are compelling, and with great power comes great responsibility. It is up to you to decide how and what to measure and how it can change the economics of entire markets.
There is no such thing as ethics or morals in machines. They work; they require concise and precise data. It is up to humans and businesses to provide AI with accurate data and then use it to inform their business decision-making process.
It is safe to say that Artificial Intelligence technology is advancing faster than ever before, but rather than fearing that Artificial Intelligence will take over the world like in the Black Mirror movies, it might be time to embrace it and make sure you, your business, and your clients are benefitting from its use.