Artificial Intelligence
Demystifying the AI revolution: A guide for marketers & businesses in 2024
Introduction
In this rapidly changing digital age, there are 5 key trends that marketers should consider implementing as part of their advertising strategy: artificial intelligence (AI), short-form videos, realist influencer marketing, audio marketing, and AV product marketing. There is a lot to explore about each of these trends, but we will focus primarily on artificial intelligence.
Since “advancements in machine learning have extended the capabilities of advertisers. Once-skeptical marketers are now using AI to enhance a multitude of campaign components." (Muhammad, F., 2023). Despite rapid advancements in this technology, there is still so much to unpack to understand what it is, how it works, its limitations and capabilities, ethical considerations, and what the challenges are for creatives and businesses alike.
The History and evolution of AI
AI is changing the creative landscape. If we think about the evolution of creativity throughout history, it has always been thought of as a human skill or talent. Suddenly, we have AI tools that can help artists create faster and in new and interesting ways. Traditional advertising has always been very human-centric, so how does AI disrupt the creative process of artists and advertising and marketing departments within businesses? How can this technology be harnessed for the greater good while keeping ethical guardrails up and keeping the human touch involved throughout the process? (Ignatius, A. 2023).
AI is not a new technology. It has been around for quite some time. “Machine learning and natural language processing (NLP) were among the technologies prominent in previous generations of AI,” (McIIroy, T., 2023). There are two different types of AI in marketing: predictive and generative. “Predictive AI analyzes patterns in data to anticipate what outcome might happen next.” And “Generative AI helps marketers create new content by creating new text and images based on the patterns it has learned from the data it was trained on,” (Wilder, J., 2024).
The current generation of AI, based on large language models (LLMs), was developed mostly over the past decade. ChatGPT appeared suddenly on Nov. 30, 2022. Two months later it had 100 million monthly users, the fastest that any technology has moved into the consumer space,” (McIIroy, T., 2023). Let’s explore more about this new and exciting technology.
From the experts
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