AI for every Marketer

How AI is different from current Martech?

What is AI?
Artificial intelligence is the science of making machines smart — and these machines enhance human knowledge and capabilities. It combines machine learning, deep learning, big data, natural language generation, natural language processing, image recognition, and neural networks. These AI technologies power machines that can be taught to be human-like: they hear, talk, write, see, move, and understand language.
We humans used to adopt technology, and AI is a technology that will adapt to humans.

AI hype:

How lucky are we that we are witnessing this AI revolution? The hype is real, but AI is not new — we have seen it working underneath most tech as a bi-product for eg: Search, image recognition, tagging photos, social media feeds, predicting the next word, and night mode camera photography for years now. What is new is that AI directly interacts with consumers with an interface with these huge technology breakthrough tools and applications. AI can help businesses do three things: generate content, generate insights, and generate code, all using natural language.

AI for Marketing, Sales, and Service professionals:
From creating blog post content to images, email campaigns, and social content, AI tools can do a lot today. Salespeople can use it to guide them to write better prospecting emails and deliver more relevant customer insights. And service professionals can use Gen AI to anticipate customer needs, suggest resolutions, and offer proactive support.

The time for AI + CMOs is now:

AI is influencing every other company, industry, and our lives. AI is expected to create trillions in value in marketing; hence it’s time for CMO and Marketers to adopt the technology effectively. This marketing world is noisy, and most of the campaigns today or a hit or a miss, and we fail to deliver excellent consumer experience. AI possesses the power to change all of this. Using AI, brands can now serve millions of consumers with individually relevant touchpoints in real-time. Motivation AI to personalize communications at scale by generating content and messages that motivate each individual to engage and act.

AI Strategy for CMOs:
AI allows CMOs to grow revenue, make smarter decisions, and improve customer experiences. According to McKinsey, AI is projected to create $1.4 to $2.6 trillion of value in marketing and sales alone. Today, there are hundreds of accessible AI applications across analytics, content, customer experience, digital, e-commerce, personalization, and other core marketing operational areas. You have to do all the strategy, budgeting, resource allocation, campaign planning, asset creation, campaign execution, performance reporting, and everything else that leads up to martech solutions automating your marketing tasks.

AI Impact on Jobs:

There will be an impact on jobs, AI is good at doing tasks, not jobs. AI will create new jobs and automate a few jobs, elevating our quality of life. Five years from now, your marketing team may look different from today’s. Machine manager, recommendation engine director, director of deep learning, VP of augmented intelligence, and chief algorithms officer — could all find their way into your organizational structure. In the process, they will redefine the knowledge and skills needed to drive growth. They’ll also need to be proficient in data analysis and be able to work with AI to run marketing experiments.

What AI can unlock for in Marketing:

Traditional technology can’t help you personalize the customer experience beyond basic automation. AI takes in structured and unstructured data at scale, discovering patterns and insights that marketers never consider. Every time AI takes an action, it has the potential to learn from the outcome and improve its performance on the next action. Ai can tell you what each consumer is looking for when engaging with your brand and predict what products or services they might want to buy next. It can forecast which activities lead to the best customer experiences and business outcomes. AI gets all the data generated from digital touchpoints, customer behavior, marketing performance, and sales.
AI performs all these that have the potential to turn any brand into a customer experience powerhouse:
• Planning: Building intelligent strategies.
• Production: Creating intelligent content.
• Personalization: Powering intelligent consumer experiences.
• Promotion: Managing intelligent cross-channel promotions.
• Performance: Turning data into intelligence.

AI has the power to use that data to supercharge a range of business outcomes that can help you:
• Accelerate revenue growth.
• Create personalized consumer experiences at scale.
• Drive costs down.
• Generate greater return on investment (ROI).
• Get more actionable insights from marketing data.
• Predict consumer needs and behaviors with greater accuracy.
• Reduce time spent on repetitive, data-driven tasks.
• Shorten the sales cycle.
• Unlock greater value from marketing technologies.

HubSpot:

I found this HubSpot Chatspot.ai tool, that demonstrates the power and potential of AI visually and understandably. Every marketer should watch this video and think about how this type of interface and technology might augment and improve the customer journey and experience.

AI Workshop for Marketers:

I attended AI for Marketing last week, hosted by The HK Marketing Society in Hong Kong. I got a deeper insight into how marketers can use AI as a co-pilot to their strategies.. Heard the personal journey of one Asia’s leading AI experts, Jeanne Lim, co-founder and CEO of beingAI and Thank you to Google’s AI guru William Tsoi, for breaking down the how, what, and why of the evolution of AI.

Key Takeaways:
💡William emphasised that the content comes from ‘publically available content’, not private content.
💡When enterprise companies use AI, they have to feed it their private content.
💡Source of data and the ownership is essential — your IP is your IP
💡Try AI, don’t be afraid
💡Stay curious
💡Keep up to date as things as changing all the time

Finally…

CMOs are in a rare position to create change, to reinvent themselves. You don’t have to become a machine learning or data science expert to take advantage of what AI enables. You must understand what’s possible with AI smart tools and technologies and apply that knowledge to your business and career. The reality is that your job, campaign strategies, daily tasks, budgets, and tech stack will look a lot different in a decade as AI advances. The next generation of marketing leaders is emerging, they will take action and have the opportunity to create a significant and sustained competitive advantage for their businesses and themselves.