When you arrive at the office in the morning, there’s a lot that stands between you and the work you need to get done that day. You need to check in on the monthly lead count, build a list of your next email send, report on the results of your latest content campaigns, the list goes on…
Instead of crafting engaging content or fostering relationships with prospects, you may end up performing repetitive marketing activities. Well, Artificial Intelligence (AI) & Machine Learning (ML) have the potential to change the way we operate.
AI-powered marketing automation recorded a global corporate investment of approximately $94 billion in 2021[i]. In fact, 20% of C-level executives reported that they are using machine learning as a core part of their business[ii].
With the rise in demand and interest in these technologies, many new trends and innovations are emerging in this space. If you’re a tech-savvy marketer or involved with technology in some capacity, it will be interesting to see what’s next in the realm of artificial intelligence and machine learning trends. So, let’s dive in!
Benefits of Combining AI & ML With Marketing Automation
We’re living in an exciting time where so many technologies and innovations are evolving and crossing paths. While we can never truly predict where our marketing technology space is heading, it’s safe to say that combining AI & ML with marketing automation can help prepare your business for future opportunities. When you combine marketing automation with AI & ML, you can:
- Deliver relevant marketing messages and improve the overall performance of your campaign
- Enhance your campaign and program by drawing on everything that you know about your customers to tailor experiences with speed and accuracy
- Translate data into informed decisions, meaningful interactions, and positively impact your business bottom line
- Harness all your audience data to auto-prioritize millions of experiences with precision
In short, when marketing automation is combined with AI & ML, you can turn all your data into strategic and tactical insights to drive more value.
Emerging AI and ML Trends to Look Out for in 2023 & Beyond
In a digitally-dominated world, it’s crucial for marketers to harness the power of AI and ML to stay relevant and create great experiences for customers. And a great way to do that is to keep an eye on the newest and upcoming trends. Here are the latest AI and ML trends that we think will play a crucial role in your marketing journey:
1. ChatGPT Will Take the World By Storm
Over the last few months, the field of AI has made some critical strides. And ChatGPT is one of them. ChatGPT is the new chatbot launched by OpenAI, an AI research and deployment company. However, the real buzz is whether or not ChatGPT is actually revolutionary. Brands are leveraging ChatGPT to write, understand, and improve code. For instance, take some code you want to understand and ask ChatGPT to explain and improve it. You’ll find detailed explanations. However, like many chatbots in the past, it does comes with its own drawbacks. ChatGPT sometimes responds with plausible-sounding but incorrect information because it is using data till 2021, which may not be accurate in the current scenario. Additionally, while the model usually refuses to accept inappropriate requests, it does sometimes respond to harmful instructions. The training process is ongoing and the technology is already in trend and we’ll see more use cases across various industries as developers keep pushing the boundaries with their innovative ideas. The capabilities of ChatGPT are truly mind-boggling, when used correctly, it can be one solid example of how powerful AI can be.
2. AI-Enabled Customer Service Will be in the Spotlight
There is a huge potential for businesses of all sizes to leverage AI’s natural language processing capabilities to better serve their customers and prospects. In the service industry, live chat has revolutionized service, with consumers finding it almost as preferable as live phone and email support – and AI-enabled chatbots are the next evolution. If an AI service program cannot help the customer, the program can switch to a live representative who can complete the request. The line between selling and service also vanishes. An AI bot can both sell and handle customer service requests to deliver a superior experience.
3. TinyML Will Revolutionize Integrating ML and IoT
Over the last few years, the computing power of ML algorithms has become too large to host on a local device. But edge devices that gather data have limited computing power. Because of this, it has become crucial to develop ML algorithms that can operate with little local memory or computing power. And that’s where TinyML can help. TinyML defines any ML algorithm that can operate on some type of embedded device or edge device in an IoT system. Traditionally, devices had to collect plenty of useless data and then send it to a cloud provider so it can be analyzed by ML algorithms. However, TinyML could solve these challenges. It enables IoT devices to analyze data using limited computing power and only collects valuable data. This way, TinyML will power the entire market. And while the algorithms are still usually trained on larger servers, many experts are predicting that within the next five years models will be trained at edge devices as well.
4. Low Code or No Code Innovations Will Gain Even More Presence
In the coming years, technical knowledge can no longer stand as a hindrance to marketing operations, all thanks to no code and low code adaptation. Low code and no code allow professionals with no tech experience to implement the application of ML and AI as they provide a simple interface for managing more complex systems. The need for developers and qualified AI employees increases the demand for low-code applications. The technologies are one of the key trends in 2023 due to flexibility, speed, and saving resources.
5. Metaverse Will Become an Element of the Internet Evolution
The metaverse will become an indispensable part of internet evolution when web 3.0 comes, in the foreseeable future. These are digital worlds that look like other universes where people can spend time, do business, and make money. Since the Covid-19 pandemic, there has been a huge demand for metaverses. The trend remains and probably will pave a new path for AI and ML in 2023. Machine learning and AI simplify the platforms, hence, they will be crucial for developing such projects. For example, AI bots will enable people to choose services, while ML help them to provide an immersive user experience. AI and ML are a bridge between metaverse elements including 3D animation, virtual reality, etc). Many businesses, brands, and manufacturers are already part of the digital world, and the most evident example is Facebook.
6. Augmented Intelligence Will Improve Decision-Making
Augmented reality is arguably the most impressive AI trend in the marketing world. Customers are able to actually examine products in 3D, instead of just looking at pictures. This is helping to bring the brick-and-mortar store fully online. Especially, during and after the pandemic, the trend is expected to continue rising in popularity. In fact, 66% of customers said that 3D and AR would boost their confidence that they’re buying the right product, and that they’d be more interested in shopping on a website that offers that option[iii]. That’s why many brands are already paying attention to AR and applying it to their social media marketing and other business efforts.
The Bottom Line
Artificial intelligence and machine learning will undoubtedly change the way we interact with customers and do business. And if you combine these technologies with marketing automation, you can discover new behavior patterns quickly, curate personalized marketing campaigns, and deliver a positive customer experience.
Ready to Make Informed Decisions Using AI & ML Platforms? Let’s Talk!
If you’d want to know more about all the amazing things you can do with AI & ML, just drop us a line at [email protected] and we’ll get back to you!