Generative artificial intelligence (AI), a groundbreaking technology, has revolutionized how marketers connect with their audiences. By leveraging AI-powered tools, businesses can now create personalized content that elevates audience engagement. According to an infographic on “How Generative AI is Changing Marketing,” approximately 77% of companies are using or exploring AI, including generative AI. The technology uses an algorithm that feeds existing content to create new iterations with various content formats, such as audio, text, pictures, videos, and simulations. Machine learning systems “artificially think” and create new content by using previous content examples.
Marketing professionals across major industries have rapidly adopted generative AI, such as legal and professional services, high-tech and telecom, financial services, retail and consumer goods, automotive and assembly, and pharmacy and healthcare. It has also been used in various marketing areas, such as email marketing, customer service routing, fraud detection, cross-selling, and upselling. AI can enhance business productivity by up to 40%, but experts recommend caution while adopting it.
AI-powered marketing tools, such as Chat GPT, Make-A-Video, DALL-E, Bard, and Nova, have created new opportunities for businesses to personalize and enhance customer engagement. Despite its rapid growth, generative AI is still in its infancy. The possibilities for businesses are endless, as AI continues to revolutionize marketing. Experts predict that we will witness a convergence of IoT and AI, greater reliance on AI marketing automation, and more accessibility for small businesses. Forging powerful partnerships in the new world of artificial intelligence in marketing can help businesses stay ahead of the curve and provide personalized and engaging experiences for their customers.