The Future of Marketing: Plankton Was onto Something

Overheard in the office:

“Alexa, are you going to take over the world?”

Alexa: “No, I just want to help you.”

Artificial intelligence can seem abstract at times as it involves computer systems developing human-like perception, speech recognition, decision making, and translation between languages. It is simply a computer, but it is complexly learning, understanding, and interpreting. From calling a self-driven Uber, to the widely used Alexas and Google Assistants,  A.I. is prevalent in modern life and is only increasing its presence as they continue “machine learning”.

Many are predicting that automated transportation will begin to expand past Uber and into other forms of travel. From there, A.I. only gets more interesting. Others are saying it will lead into cyborg technology, where those with amputated limbs, or missing organs, will be able to use this tech to connect with their brain and give them back range of motion and physical ability.

Artificial intelligence is also beginning to take over dangerous jobs. There are now drones flying into areas with potential bomb threats so the situation can be diffused. As of now, humans are behind the controls. However, they are looking to have them do it on their own. Thousands of lives have already been saved because of this, and many more will be as technology advances.

Artificial Intelligence Marketing is Real

Some experts even saying that A.I. will be able to solve climate change. A seemingly far-fetched statement, but with the notion that A.I. can access tons of information through big data, they will be able to identify patterns otherwise invisible to us humans. The trends they find could be compiled and used to come up with solutions. The same kind of data collection and compilation can be implemented into marketing. As more information is collected, the closer businesses and companies will get to the ever-elusive consumer behavior formula. Much like when Plankton used his A.I. Karen to help steal the Krabby Patty secret formula. But in this situation, Karen is ever-improving and gets smarter and smarter with each attempt. Mr. Krabs would have never stood a chance.

Currently, 84% of marketing organizations are implementing or expanding their A.I. and machine learning. 75% of enterprises who are already using A.I. and machine learning are enhancing their customer satisfaction by more than 10%. Most executives believe that this is the most significant growth benefit it will provide. It is predicted to do so by coordinating each and every aspect of attracting, selling, and serving consumers by using their collected information and learning to predict outcomes. Machine learning is programming machines to be able to program themselves with the information they are being fed. The outcome will, in turn, bring about a more personalized experience per customer. By the year 2020, scientists have predicted that real-time personalized advertising across all digital platforms and optimized message targeting, with accuracy and precision, will be the reality.

Within Google, there is very little technology that is not, or does not involve, A.I. It has been used to reinvent products such as maps and is changing the way YouTube is used and navigated, as well as its use of advertising. The relevance each user will have to their personalization while using such applications will be possible because of the large scale of users. The A.I is able to pick up so much information that Google’s accuracy is incredible. This type of targeting and marketing is the future businesses have been looking for, and it is on the rise!

Perfect Price

Aside from personalization, A.I. will have the ability to optimize prices and create elasticity. Take Uber for example, a company who only uses price optimization. The cost depends uniquely on location, demand, and the time of day, as well as how many drivers are available. As a result, the prices of purchasable items and services will become more of a stockmarket-like buying experience. All of which will create perfect market pricing at any given time.

Artificial intelligence’s full impact is not certain, nor will it be for a while, however, it is certain that there will be an impact. Is Alexa really just here to help? Only time will tell, and all things considered, the best is still yet to come.

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If you are interested in a bright future for you and your business, come shine with us and contact the experts at ENX2 Marketing today.