Marketing is a dynamic field, and keeping up with the latest trends and technologies is key to success. Generative artificial intelligence (AI) has emerged as one of the most groundbreaking innovations in recent years, reshaping the way businesses connect with their audiences. An infographic on “How Generative AI is Changing Marketing” highlights the impact of this cutting-edge technology, revealing that approximately 77% of companies are using or exploring artificial intelligence, including generative AI.
Generative AI uses an algorithm that feeds existing content to create new iterations with various formats such as audio, text, pictures, videos, and simulations. By using examples of previous content, machine learning systems can “artificially think” and create new content. This technology is rapidly being adopted by marketing professionals in various industries, including legal and professional services, high-tech and telecom, financial services, retail and consumer goods, automotive and assembly, and pharmacy and healthcare.
Generative AI is used in different marketing areas, such as email marketing, customer service routing, fraud detection, cross-selling, and upselling, with the potential to enhance business productivity by up to 40%. AI-powered marketing tools, such as ChatGPT, Make-A-Video, DALL-E, Bard, and Nova, are creating new opportunities for businesses to personalize and enhance customer engagement.
As generative artificial intelligence in marketing continues to evolve, there is a forecast for the convergence of IoT and AI, greater reliance on AI marketing automation, and more accessibility for small businesses. This new era of AI marketing is both exciting and challenging, and businesses need to take caution while adopting it. Despite its rapid growth, generative AI is still in its infancy, and recognizing both the opportunities and challenges that AI presents is essential. By forging powerful partnerships in the new world of AI marketing, businesses can stay ahead of the curve and provide personalized and engaging experiences for their customers.