The essential
- AI in marketing. A $1.3 trillion market by 2032, with 80% of CEOs seeing efficiency gains.
- Increased adoption of AI. 27% increase in global spending on AI, essential for all businesses.
- Generative AI risk. Uncontrolled use can lead to legal problems and lack of human contact.
According to Bloomberg IntelligenceGenerative AI programs like ChatGPT will create a $1.3 trillion market over the next decade, eclipsing the $40 billion mark set for 2022. Fortune/Deloitte investigation of CEOs found that nearly 80% believe AI will drive efficiency, and more than half believe it will generate opportunities. And they’re putting their money where their mouth is: 55% are evaluating or experimenting with generative AI, and 37% have already implemented it.
Let’s take a look at AI in marketing.
AI is no longer just for big businesses. When IDC predicted global AI spending would reach $154 billion By the end of the year, an increase of about 27% from 2022, one of its analysts noted: “Companies that are slow to adopt AI will be left behind, large and small. »
Within marketing, AI Adoption is increasing at the company and agency level. It is used to automate the collection of customer information, generate creative ideas, personalize and optimize assets, and produce a range of content.
From chatbots to email campaigns to highly targeted advertising, AI is proving affordable, feasible and powerful – and the companies now using it are already putting distance between themselves and their competitors.
AI in marketing: what is at risk?
While a generative AI service like ChatGPT will shape the future of marketing, trusting its results unchecked would be a big mistake. This is because it comes from the Internet and not only could this copy someone else’s work and result in intellectual property infringement, but the data could also contain personal, inaccurate or offensive information.
This can lead to numerous legal issues, damage a company’s reputation, and damage a marketer’s career.
Generative AI can also lack “feel,” and automated messaging can’t truly replicate critical components of marketing. No matter how much effort, time and money you save, it’s not worth it if your work is sterile and boring.
So, what’s a marketing leader to do? The technology is not going away – it is proving to offer major operational, financial and competitive advantages – so it’s time to accept it …but in complete safety.
Related article: AI in Marketing: More Personalization in the Next Decade
A question of politics
From enthusiastic Gen Z to cautious veterans, it’s time for all marketers to start using AI. But first, leaders must establish and maintain control, and these tips for AI can help:
- Create policies, track action: Insist AI is not used for client-facing projects unless they are reviewed and approved by certain team leads. Generative AI tools should only operate from approved databases where possible. Also monitor usage and consider investing in detection tools to track where AI is being applied.
- Practical experiences: Encourage staff to experiment with tools like ChatGPT. Usage will identify what works, what doesn’t, and raise important questions. Learning by doing will familiarize everyone with safe and productive use, while likely revealing why production needs rigorous scrutiny.
- Take a team approach: Create a core user group to lend a helping hand and provide information. This can not only shape strong policies, but also develop better practices. Additionally, make sure all generations are represented – this will drive excitement and adoption across the organization.
Related article: AI in Marketing: Balancing Creativity and Algorithms for Marketers
To start
Despite the very real risks, the benefits of AI are enormous. ChatGPT, for example, can help generate content at scale and automate tedious tasks. In fact, asking staff to experiment with generative AI tools is a good place to start.
If your team is hitting a creative wall, they can use AI in marketing to generate and stimulate ideas. If the search produces complex information, they will find that ChatGPT can quickly make it understandable. And as they progress, they can try using it for first drafts of blogs, emails, product descriptions, advertising copy, but only for internal purposes and accompanied by a thorough examination.
Remember, human intervention and monitoring are still necessary to safely grow your marketing capabilities as technology evolves.
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