David Tiltman, WARC’s Head of Content, says, “2017 looks set to be the year that many brands take their first steps in artificial intelligence. Machine learning is already being applied to programmatic trading and we’ve seen brands like Aviva in the UK improve their media efficiencies as a result. The next major application looks set to be chatbots, as marketers look to respond to a consumers’ take-up of messaging apps.”
As already published in the summary on WARC-Deloitte marketing trends for 2017 report (Warc-Deloitte Toolkit), we offered our readers some days ago, WARC, the global marketing intelligence service, concludes that Artificial Intelligence (AI), defined as the ability of computers to take on tasks that have previously required human intelligence to complete (such as speech recognition or interpreting data) will have a major impact on the marketing industry next year.
And those changes foreseen by WARC will also bring new business opportunities and customer needs companies and agencies operating in the marketing and advertising market should meet.
Still in time: Global CMOs are already planning their AI strategies
According to a survey by PR agency Weber Shandwick in association with KRC Research, nearly six in 10 (58%) global CMOs believe that, within the next five years, companies will need to compete in the AI space to succeed, and around seven in 10 (68%) say their organisations are already using or planning for business in the AI era.
More than half (55%) of global CMOs expect AI to have a greater impact on marketing and communications than social media ever had.
Where do they lay AI major business opportunities?
WARC’s Toolkit identifies some key fields where AI is expected to impact and generate changes in the marketing industry in 2017. This key fields and trends bring as well lots of business opportunities and potential business lines for companies and agencies operating in the marketing and advertising markets.
Elaborating a bit more on the summary already published on this trend Warc identifies the following key facts:
1.- Immediate opportunities include advanced data analysis: Data mining and analysis that is normally done manually may be done quicker and better using AI. This can span business and consumer data, with AI potentially providing more informed outcomes.
2.- Chatbots will become key touchpoints for service brands: Chatbots are software programs designed to automate customer-to-company conversations. They use machine learning to help determine what the consumer’s question is, source a relevant answer and form a reply.
3.- Marketers must consider the tone of voice of ‘branded conversations’: Brands will be keen to express their identities via chatbot technology. Language nuances, sentiment and the ability to hold conversations are the next short term nuances to be addressed.
4.- Virtual assistants will change path-to-purchase strategies: ‘Programmatic consumption’ is the automation of brand choices. Rather than a consumer spend the time and effort selecting a product and placing an order, these are partially or fully automated. In other words, purchase decisions will increasingly be made by computers, rather than by consumers standing in shops.
5.- Machine learning is being applied to automated trading: Machine learning is already used within certain areas of programmatic media trading, and this is expected to be a major growth area. For example, machine learning might help optimise campaigns based on what is working, or adapt campaign creative based on new information.
About WARC-Deloitte Toolkit
Artificial Intelligence is one of six key trends featured in WARC’s Toolkit 2017. The report, produced in association with Deloitte Digital, brings together the best of Warc’s content over the past year – the latest ideas, research and examples. The result is a guide to current thinking in each area, and the implications for marketers. For more information and insights on Toolkit 2017, click here
Image over the headline.- Images © WARC and © Deloitte Digital. Composition, Eastwind.
Related eastwindmarketing links:
Toolkit 2017.- Six key marketing trends as seen by WARC and Deloitte
