Artificial Intelligence in Advertising
The next wave of technological advancement is Artificial Intelligence (AI). After Internet, it is AI that the next revolution.
As per the research of McKinsey report reveals that automation based on AI in workspaces 0.8 to 1.4 percentage points to GDP growth annually. Accenture determined that AI would help accelerate China’s economic growth rate from 6.3% to 7.9% by 2035. This could lead to an extra US$ 7 trillion in GDP from 2017 to 2030.
AI can be used in numerous ways ranging from ad targeting, content curation to dynamic pricing. Customer Service, Product Recommendation, and Sales forecast can all be controlled by AI leaving marketers to focus on other aspects of the business.
Advertisers can save a lot of money by implementing in-house AI capabilities. Cost savings on ad serving, automation can improve customer engagement leading to robust ROI’s.