AI is evolving from a "nice-to-have" capability to a "must-have”. It has been said that "Artificial intelligence is the new electricity." This statement should give you a clue as to how important it is in today's world. Artificial intelligence (AI) is everywhere and will only become more prevalent in our lives as we move forward towards the fourth industrial revolution - especially in marketing and advertising. So, what exactly is AI?
Artificial Intelligence can be defined as “a system’s ability to interpret external data correctly, learn from such data, and use those learnings to achieve specific goals and tasks through flexible adaptation.” This definition may sound complicated at first glance, but in reality, this technology is already all around us—and we don't even realize it! For example, image recognition software allows you to search for images online by uploading an image rather than typing text into a search bar; smart speakers like Amazon Echo allow you to control your home with just your voice; self-driving cars are no longer science fiction—they're real life!
Artificial Intelligence can be broken down into three main categories: strong AI, weak AI, and narrow AI. Strong AI would include a machine with general problem-solving abilities, like a Tesla car navigating traffic. Weak AI includes machines with specific skills, like playing chess or understanding human speech in order to provide customer service over the phone. Narrow AI refers to machines designed for one particular task—for example recognizing faces in photos or tagging content on social media sites.
Organizations, such as Amazon, Facebook, Alibaba, Google, Tencent, Microsoft, Apple, IBM, and Baidu AI, Xiaomi are investing heavily to make AI accessible and available for everyday use.
Artificial intelligence (AI) has been integrated into numerous technologies and apps by industry giants such as Google, Amazon, and Apple - for example, face-recognition systems, personal assistants, and user-preference learning. Indeed, without its machine-learning system, Amazon could not have grown its business, improved consumer experience and choice, or optimized their logistics.
From translating languages to healthcare to making smartphones even smarter, Google AI aimed to "generate more intelligent, helpful technology and help as many people as possible," according to the company's press release. Facebook AI research was focused on extending the frontiers of machine intelligence and developing new technologies that allow individuals greater ways to interact."
Marketers who are looking to improve their skills in artificial intelligence are developing, collaborating on, or placing AI technology into their technical stacks. AI is already being utilized in ad targeting and customer segmentation, but there are many more possibilities ahead, such as:
Nobody knows if artificial intelligence will allow us to improve our own intellect as Ray Kurzweil from Google believes, but it will definitely make advertising more efficient, easier to scale and simpler to manage.
It will also create new ethical, legal, and philosophical conversations that must be addressed. There will be choices that machines and, by extension, their human programmers will have to make when we move into a world of AI. Thankfully, choices within advertising won’t be that serious (like a choice by a Tesla to speed through a red light or not), but will have a result on how we, as marketers, navigate and protect consumer data.
That’s why we’re here to lead the conversation about AI in marketing. We think the future is bright! CatapultX won the award from The Drum for most effective use of AI and machine learning - and there's a reason why. CatapultX's On-Stream advertising formats are driven by AI used to understand moments in video and match them with related advertisers. The mission at CatapultX is to achieve the deepest level of understanding of video through AI. By doing this, we're solving for cookie-less advertising, advocating for privacy-first experiences for users, improving results-driving advertising and enabling brands everywhere to enter into video advertising. Follow us as we break down AI in advertising from every angle.