AI in Marketing: The 2024 Revolution
Surprise: Artificial intelligence is transforming industries across the board. Though not exactly brand-new, the initial rise of ChatGPT positioned AI as one of two things: a monolithic presence poised to take over jobs and creativity, or an invaluable asset for humanity’s progress.
Once the publicly available ChatGPT snagged the center of attention, every new scrap of AI information was big news. Microsoft paid out billions for OpenAI access, and articles began churning out about potential and solidified partnerships and integrations. I remember a computer-savvy friend showing me Photoshop’s new AI-powered capabilities; he was both shocked and ecstatic by the advances.
Now, artificial intelligence permeates countless aspects of our lives. For example, you may be wondering whether this article was AI-generated (it wasn’t). Many apps on your phone are likely largely or entirely defined by AI. Google “snippets” have given way to AI summaries. Now, I can make a few facial expressions on an app, and that app can then write a script and have my “AI Twin” deliver it in such a way that my own mother genuinely thought it was a video I filmed of myself (true story).
10 Ways AI is Changing Marketing
In the world of marketing, changes spurred on by AI are taking root in unexpected and unprecedented ways. So, today we’ll take a look at 10 of those changes, and see how data and stats back up what we already know: That we’re getting ominously close to needing Sarah Connor and a reprogrammed 6’ 2’’ Austrian robot.
AI Adoption Skyrockets
98% of marketers now leverage AI, with the market value projected to hit $107 billion by 2028. Such a rapid, overarching adoption signifies a fundamental shift in how businesses approach customer engagement and campaign optimization as a whole.
Hyper-Personalization Reigns Supreme
88% of marketers report AI enhancing customer journey personalization across channels. Spotify's AI-curated playlists exemplify this trend, offering listeners tailor-made emotional experiences through music. You know how sometimes you think of something, then you see ads for it–it’s like that, but on steroids.
Content Creation Evolves
76% of marketers use AI for content generation, with an equal percentage seeing AI-generated content rank in search results. Coca-Cola's "Create Real Magic" campaign showcases AI's creative potential, merging technology with human artistry for groundbreaking marketing materials.
Data Analysis Supercharged
53% of marketers harness AI for data analysis, uncovering insights at superhuman speeds. Amazon's recommendation engine stands as a testament to AI's predictive power, driving sales through eerily accurate product suggestions.
Chatbots Redefine Customer Interaction
57% of B2B marketers use chatbots to gain deeper audience insights. Snapchat's AI chatbot engagement—10 billion messages from 150 million users in two months—illustrates the massive potential of these intelligent conversational agents. Although we’ll all probably still just want to speak to a human being, at least until the tech can catch up to a really great customer service rep.
SEO Gets an AI Boost
65% of companies report improved SEO results with AI integration. Tools like BrightEdge Insights use deep learning to automate website improvements and analyze competitor strategies, which can offer a competitive edge in the digital space without hiring a separate human to do the work. (For the record, as useful as these tools may be, I firmly believe they are not yet at a point to replace the people doing this.
Social Media Marketing Transformed
AI is reshaping social platforms. Facebook now generates 15% of feed content from non-followed accounts using AI. LinkedIn's AI features boosted premium subscriptions by 25% in 2023, contributing $1.7 billion in revenue.
The Rise of Virtual Influencers
The AI influencer market is set to reach nearly $7 billion in 2024. Virtual influencers like Lil Miquela are partnering with major brands, heralding a new era of digital marketing.
Voice Search Revolution
43% of American marketers report chatbots effectively educating prospective customers, opening new channels for engagement. Already, ChatGPT is winning out over Google as a search engine.
Predictive Analytics Takes Center Stage
Nike's acquisition of predictive analytics firms showcases the power of AI in forecasting customer behavior. This proactive approach allows for more targeted and effective marketing strategies.
What’s Next for Marketing AI?
By 2028, AI in marketing is estimated to surpass $107.5 billion in value4. It’s not just an add-on to marketing strategies—it just might be becoming the core. Welcome to the new frontier of marketing innovation, where businesses that harness AI's potential will lead the industry, and those that lag risk obsolescence.
And yet, 60% of marketing experts express concern over potential brand damage from AI-generated content due to biases or value misalignment. Oh, and the “Godfather of AI,” along with top AI-industry leaders (such as Sam Altman, aka the Dr. Frankenstein to ChatGPT), are absolutely petrified of their creations.
What’s next for AI marketing, and will it be wonderful or disturbing? Well, for the irony factor, I asked ChatGPT to answer that question in two sentences. Here’s the unedited response:
“The future of AI marketing has the potential to be deeply disturbing, as it can invade privacy, manipulate emotions, and turn consumers into targets for algorithms that know their desires before they do, eroding trust and exploiting personal data without boundaries.”
…You really can’t make this stuff up.
