With the future of AI appearing increasingly unpredictable, it seems as though no job is safe from machine takeover. However, AI and Machine Learning (ML) aren’t necessarily the enemy of employment. These two technologies are also extremely promising for making our jobs easier, by parsing through unstructured information, which comprises approximately 80% of enterprise data.
As of 2018, approximately 84% of marketing organizations have implemented, or will be expanding AI and ML capabilities. Of the firms that have implemented AI and Machine Learning, approximately 75% have enhanced their customer satisfaction by more than 10%.
And these results aren’t uncommon either. A report by Forrester concluded that AI and Machine Learning will benefit companies by: improving customer experience and support, providing an opportunity to improve on existing products and services, and providing the ability to disrupt industries with new business models, products, and services.
These results are replicable across industries thanks to Machine Learning’s ability to analyze large amounts of data—whether it be social media, call logs, email marketing records, and more—and use predictive modelling in order to prioritize or predict certain outcomes.
An example of AI and ML analysis comes from customer behavior. By decoding the raw data from customer actions, and segmenting based on behavior, companies leveraging AI and machine learning can determine how best to ensure the desired sales and marketing outcomes.
This data is invaluable, as marketers will be able to better understand what drives MQLs and SQLs, which can help to optimize campaigns, improve pricing models, and determine the appropriate amount of time to spend on leads and nurturing.
AI and Machine Learning can also reduce the risk and potential for errors. Machine Learning is iterative in nature, meaning that optimization is always the overarching goal. If a miscalculation is made, machine learning algorithms correct the miscalculation and start another data analysis with the error corrected—achieving more predictability and creating a consistent analysis.
The main takeaways from AI and ML for marketers is that the analysis will allow for more accuracy in making informed decisions, planning strategies and campaigns, predicting future trends, and providing customer support.
Overall, AI and ML will continue to transform every industry dramatically, but it will be especially exciting to see how marketers will leverage everything AI and Machine Learning has to offer, in order to execute the best strategies, and offer the best possible experience to customers.
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