Generative AI has recently been taking the world by storm through its ability to create unending possibilities for new content. These learning machines are fed existing information to derive content in any form, including text, pictures, video, and simulations. The goal is to ultimately teach these machine learning systems to find new ways to solve old problems.
Generative AI has been used in a variety of industries within the marketing space, including legal and professional services, high-tech and telecom, and financial services. Its uses are strikingly similar across these vastly different industries- ranging from email marketing to cross-selling and upselling to marketing lead generation. Through the help of this revolutionary technology, business productivity has shot up by 40%.
There are a few popular platforms that have taken the marketing world by storm. ChatGPT has been hugely popular since its release to the public. This platform is capable of drawing upon 45 terabytes of information to create an interface that is designed to create a solution for users’ questions through interactive dialogue. Nova is a platform that is specifically designed for marketing purposes with a focus on personalization. It has been shown to boost marketing results by a margin of 60-170%.
Marketing in particular is well suited for utilizing generative AI to create patterns that lodge themselves in people’s brains. Some of the future trends that are predictions to enter the generative marketing space include the convergence of artificial intelligence and the Internet of Things. Marketers will likely use artificial intelligence to personalize offers, emails, and paid ads to a specific audience. Small businesses are likely to benefit from the accessibility of the technology as well.
AI is still in its infancy, but many experts are predicting an explosion in generative AI startups. There has already been a 14x increase in AI startups since 2000, which will only grow in the near future. Its abilities will soon be applied to the world of business, which will draw upon the gold-mine of information that AI technology is capable of providing. Business leaders are being warned that their businesses will suffer without paying proper attention to this surge of interest in artificial intelligence. Learn more about generative AI in marketing in the infographic below: