Generative Artificial Intelligence Changing The Face Of Marketing

Thursday, 1 June 2023, 9:42 am
Press Release: Hugh Grant

Generative artificial intelligence use is becoming more and more popular among marketing companies. Generative AI is an algorithm fed a large volume of pre-existing content to create new content based on the material it has. This AI can create audio, code, text, pictures, videos, and simulations. The goal is to basically teach the machine learning systems– using pre-existing content to try to get the AI to ‘think’ and generate new content. This technology is becoming more and more common in marketing firms, as it has been shown to increase business productivity by up to 40%.

A staggering 77% of companies are exploring AI usage in their companies, including generative AI. Professionals use AI in the marketing sphere for legal services, professional services, financial services, retail, telecommunications, pharmacy services, and automotive/assembly support. Generative AI specifically is most commonly used in email marketing, followed by marketing lead scoring and customer service. Other major areas of use include fraud detection, upselling/cross-selling, and service chatbots. AI is also likely to become more common, with a 14x increase in AI startups since 2000, coupled with increased adoption of the technology by a huge number of firms. Already, tools like ChatGPT, Make-a-Video, DALL-E, Bard,and Nova are in commonplace use by millions of users worldwide.

Despite the rapid increase in use of AI programs, experts believe the generative AI programs are still only beginning to show their true potential. Rob May, founder and CEO of the company Nova, described the coming growth as a “Cambrian explosion of generative AI startups.” Noah Brier of the company BrXnd points to the potential impact of generative AI projects in branding: “Marketing as a discipline is particularly well suited to the kinds of problems AI and machine learning are best at. At the end of the day, branding is fundamentally about generating patterns that lodge themselves in peoples heads and these new tools are perfect companions in that exercise”. Despite the energy behind AI, the majority of companies are behind the times. Paul Roetze, founder and CEO of the marketing AI Institute, said, “Business professionals still see AI as some kind of abstract, sci-fi thing– I don’t think they understand that it’s extremely approachable. It’s very hard to find the intersection of business professionals who understand what AI is capable of doing, and can apply it to real business problems and use cases”. Perhaps more directly, dunnhumby CEO Dan Olley claims “If CIOs invested in machine learning three years ago, they would have wasted their money. But if they wait another three years, they will never catch up.”

There is a bountiful future for generative marketing. Currently, a huge 19% of c-suite executives are working on functionalizing the intersection of generative AI and IoT (Internet of Things– a descriptor for any number of ‘smart’ objects, including Alexa, Google Home, the FitBit, and some cars). 22% of marketers are using generative artificial intelligence to create and personalize emails, discounts/offers and paid ads. This growth is not restricted to only huge companies– 31% of small businesses are using AI tools in marketing. A larger percentage of small businesses believe AI will create new job opportunities in marketing alongside the program. The huge boom of generative artificial intelligence used in marketing will change the face of the industry, maximize productivity, and hopefully introduce new employment opportunities in the field. It offers huge opportunities to email marketing, branding, service routing, detecting fraud, upselling, and in expanding the ability of service chatbots. With experts suggesting the great boom of AI is still yet to come, the time to explore generative AI marketing is now.

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