Nabeel Khalid is a featured contributor to The Impact of AI on Modern Marketing: 50 Categories Ranked, 70 Experts Sound Off report.
Here's the complete contribution:
When we talk about Artificial Intelligence (AI), it is important to distinguish between applied AI and general AI. While applied AI might drive my car in the future, general AI, of which Machine Learning (ML) is a subset mimicking humans, can support marketing functions in many ways in the future.
At the moment, ML techniques are being used to interpret a host of analytics data, such as Netflix recommendations that suggest what users should see next. However, these have limited value (and the recommendations are quite bad) currently.
In the future, ML algorithms will have more rounds of training with a greater number of data sets thanks to better processing technology and a greater amount of data that is already being collected today. At some point, every company's marketing division will be feeding their marketing analytics data across all their marketing channels to train their ML models to predict and even drive top-level decisions regarding budget assignments etcetera in real time.
One of the many benefits of using such technology would be the ability to harness intelligence from a variety of data sources, such as weather forecasts, local traffic information, local events, user activities, and more to predict the best time to air an advertorial, for instance. In other words, it will become an essential part of marketing machinery.
[Some companies are have already led the way by investing heavily into incorporating ML into their business processes, like predicting demand.
Crozdesk, uses ML techniques on market data to determine a Crozscore, which is automatically assigned to software solutions listed on the Crozdesk platform. This provides valuable insights into the solution's strengths, without human intervention.]
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