New research from Forrester suggests that AI will revolutionize marketing, and that companies hoping to take advantage must turn to mature AI platforms like Adgorithms’ Albert™.
According to a new report from Forrester, “AI will transform marketing over the next five years, leaving few facets of customer engagement untouched.” Citing industry leaders like Albert™, the world’s first fully-automated AI marketing platform, Forrester argues that “AI-powered marketing applications promise to reduce the opportunity costs incurred when brands are unable to fully leverage data and connect insights to engagement.”
AI platforms have yet to become the industry standard, but Forrester’s research suggests that many companies understand that the future of marketing rests with AI technology. In response to the question, “What areas of your organization are leading or evaluating the investment and adoption in AI systems,” 46% of companies responded with “marketing/sales.” That response beat out runners-up like “product management” (40%) and “customer support” (40%).
As the report points out, this relatively high interest in AI tools should not come as a surprise, as the marketing industry has been laying the groundwork for AI technology for years. For instance, most of the demand-side platforms that manage real-time programmatic ad buying already use machine learning to expedite and optimize the bidding process.
Glasswing Ventures’ Sarah Fay confirms the unique readiness of AI-based marketing technology, pointing out, “[The AI] trend is different from the digital economy in the early 2000s because the infrastructure and business components are already in place for AI.”
But how exactly will AI revolutionize marketing? First and foremost, by enabling marketers to exceed their human limitations. As Forrester explains, “Existing marketing constructs — including organizational design, insights generation, and rule-based systems for orchestrating and delivering customer interactions — centered on human cognition simply cannot cope with the volume, velocity, and complexity of modern customer engagement.” Because the volumes of data involved in modern marketing campaigns have become too large for humans to handle alone, “Human beings are now the limiting factor in B2C marketing, and the opportunity costs are growing daily as data sits idle and interactions remain generic.”
What AI Marketing Platforms Have to Offer
Forrester’s report outlines three critical capabilities that every mature AI platform must possess in order to productively expand its human supervisors’ operations: sense, think, and act.
Sense: By drawing data from numerous channels and devices, AI technologies are able to observe an online consumer’s behavior and preferences in greater detail and with more accuracy than was previously possible.
Think: Good AI is fundamentally defined by its ability to recognize when it is performing poorly and understand how to go about correcting its own flaws. For example, if a platform offers a static predictive analytics algorithm, it should not be considered true AI, as dynamism is part and parcel of authentic artificial intelligence.
Act: The most mature AI platforms not only gather data and formulate insights, but take actions informed by their own “sensing” and “thinking.” Automating the cycle involved in pulling new data, analyzing it for insights, taking actions based on those insights, and pulling new data greatly reduces the time it takes to test speculative campaigns and execute proven ones. This enables marketers to be far more responsive to shifting consumer preferences and deeper systemic changes in the marketing landscape.
Albert™ is one of four platforms Forrester cites as a mature marketing automation tool capable of effectively “orchestrating and executing cross-channel marketing campaigns” and “optimizing channel mix and spend to maximize KPIs.”
Preparing For the AI Revolution
After touting the tremendous potential of AI marketing platforms like Albert™, Forrester is careful to remind its readers that “artificial intelligence is not a standalone solution; it is an enabling technology that is applied to specific problem sets, each featuring its own data, analysis, output, and goal.” This is an astute observation, and we’ve long believed that Albert™ delivers the greatest results when companies encourage an environment in which human and machine work in harmony.
That being said, Forrester’s initial assertion remains true: AI will transform the way marketing is done over the course of the next half-decade. As marketers, our jobs will certainly change, but for the better. The more we’re able to delegate tedious tasks like data integration, segment and rule creation, and A/B testing to AI platforms, the more time we will have to focus on high-level tasks like crafting creative materials.
Forrester’s report represents yet another confirmation of the fact that the AI revolution is coming to marketing, but with a mature platform like Albert™, you’re already well on your way to taking full advantage of the industry’s imminent changes.