Article | December 20, 2020
COVID-19 has impacted every aspect of our lives including the way we do business. In fact, according to a recent survey by McKinsey, COVID has accelerated companies’ digital transformation journeys.
In a post-COVID world, there will be an even-greater acceleration of AI adoption by enterprises. AI business applications will be centered around automating tasks, forecasting supply disruptions, and enhancing customer behavioral analytics. There will be a rise in industry and sector specific AI applications where business domain knowledge and business content data are the main differentiators. However, increases in AI adoption rates do not necessarily translate into higher success rates. To avoid failure, business executives need to develop robust AI strategies and metrics, enhance data quality, and focus on AI integration and governance.
Key trends and applications for 2021 and beyond are as follows:
AI and Healthcare
Artificial intelligence played a crucial role in the detection of COVID-19. Indeed, we have seen the emergence of the use of AI at hospitals to evaluate chest CT scans. With the use of deep learning and image recognition, COVID patients could be diagnosed thus enabling the medical team to follow the necessary protocols. Another important application was the triage of COVID-19. Once a patient has been diagnosed with COVID, AI has been used to predict the likely severity of the illness so the medical staff can prioritize resources and treatments.
In a post-COVID world, we will see increased use of AI in detection of illnesses, triage of patients, and drug discovery. According to a recent market research reported by PRnewswire, the market size for global healthcare IT is expected to reach $270 billion by 2020. The increase will be driven by COVID-19, government policies, and the use of technologies such as artificial intelligence and big data.
AI and Supply Chains
Coronavirus has highlighted the need to re-think traditional supply chain models. There will be an increase in the use of technology such as artificial intelligence, Internet of Things, and 5G to make supply chains more efficient.
Artificial intelligence applications will focus on improving end to end visibility, analyzing data to detect anomalies, and forecasting supply and demand outlooks thus making supply chains more resilient.
AI and Retail
The pandemic has changed what and how consumers buy, with retailers forced to grow their online presence. E-commerce has been put at the forefront: in the first six months of 2020 consumer spending with US retailers increased by about a third compared for the same period in 2019 according to Digitalcommerce360.
According to new market research reported by PRnewswire, AI in retail will be worth about $20 billion by 2027. When it comes to retail and ecommerce, we can find AI applications in several areas including customers analytics for product recommendations, targeted marketing, and price optimizations.
For the latter, AI is applied to analyze patterns and data on customer profiles, their purchase power, product specification, timing of purchase, and what the competition is offering. The outcome of the analysis will set the pricing strategy. Several companies use AI to set their pricing strategy on a frequent basis, for example Amazon’s average product’s cost changes about every 10 minutes according to Business Insider source.
AI and Intelligent autonomous agents
COVID has highlighted the need to deploy intelligent autonomous agents that cannot catch diseases to fight against the pandemic. We have seen both robots used at hospitals to diagnose COVID-19 patients and drones deployed to monitor if the public is adhering to social distancing rules.
An ABI research showed that mobile robotics applications market size will increase to $23 billion by 2021. This increase is mainly due to applications that disinfect, monitor, and deliver materials.
The integration of AI with drone technology and robotics will create new application opportunities and will make them mainstreamed across several sectors.
AI and Education
Education is another sector that was badly hit by COVID. According to Unicef more than 1 billion children are at risk of falling behind due to school closures. The pandemic has highlighted the need for educators to adopt digital solutions to minimize learning vulnerabilities across the globe.
AI application in education will mainly focus on personalized learning where the technology is used to design and tailor training materials that matches the student’s ability and learning preferences. Other applications include the deployment of voice assistants to interact with educational material and the use of AI to support teachers in administrative tasks.
AI and Digital Twins
The pandemic has accelerated the adoption of digital twin technology. Digital twins are replicas of physical assets such as cities, offices, and factories. This technology became crucial in testing pandemic scenarios and emergency plans.
Digital twins technology is expected to reach a global spend level of about $13 billion by 2023 fueled by AI and machine learning according to Juniper Research.
When integrated with artificial intelligence and IoT, digital twin technology becomes very powerful when trying to test scenarios and predict bottlenecks, breakdowns, and productivity.
AI and Ethics
Over the last year, we had several prominent examples of AI ethics issues. The first example relates to facial recognition: after several calls against mass surveillance, racial profiling and bias, and in light of Black Lives Matter movement starting in the United States, several tech companies such as Microsoft banned the police from using its facial recognition technology. The second example relates to the use of an algorithm to predict exam results during COVID-19 period: after accusations and protests that the controversial algorithm was biased against students from poorer backgrounds, the United Kingdom government was forced to ditch the algorithm.
In the absence of regulations and tightened frameworks, ethics will continue to be the main concerns surrounding the use of artificial intelligence.
Article | February 27, 2020
Artificial Intelligence (AI) definitely tops the list of important themes for the drone industry. From data management to flight automation, AI has been part of the description. But how exactly does AI power processes like industrial inspections? An integration between a drone data management platform and an AI company serves as an example. Drone inspections generate a lot of images, huge quantities of data. While not all of those images are useful, all of them need review in order to identify a potential defect – like finding a needle in a haystack. That’s where AI can help – significantly reducing the human effort required to find that one important image from thousands of others.
Article | June 24, 2021
The world of digital advertising is witnessing a great change, all thanks to Artificial Intelligence (AI).
As AI keeps on advancing, we will see more and more improvements in digital advertising strategies for the companies to get profitable customer insights.
The automobile giant, Lexus, is the first company to release an AI-scripted advertisement. According to the report from Variety, IBM Watson was used by Lexus to analyse car and luxury brand campaigns that have received the Cannes Lions award in the category of creativity. However, it was not the only motive of IBM Watson. A wide range of other external information was also analysed with the help of it.
This turned out to be a great move as Watson was successful in identifying dataset elements that would relate to customers on emotional levels.
What was behind this achievement? Of course, AI.
But there was even a bigger message — AI is the future of advertising.
Today, there are multiple commercially available platforms that can generate advertisements without the involvement of humans. But, AI is not just about creating ads. It has the power to transform every single possible thing in the advertising industry in 2021 and beyond, be it ad buying or even audience targeting.
Don't be surprised to read every content throughout your day that is written by AI in the coming years. Luckily for writers like me, our industry is not there yet.
As we have just stepped into a whole new decade, it’s a good moment to think about the future of advertising where AI will play a vital role. So without further ado, let’s get into it!
The Future Of Advertising Has Already Begun
Just like any other marketers or businesses, we always try to predict or guess what the future of advertising holds for us. Yes, there certainly are some known things and some unknown ones. However, we still can discuss how it can be considering all the potential changes and variables. The major reason behind this is, the future of advertising has already begun a few years back.
Well, most of the futuristic trends of the advertising world have already kicked off. Especially those trends that are going to be the hot buzz in the coming decade. But here lies one important question, which of these trends will impact the future of advertising the most?
And, what does AI have to do with this? Well…if you closely look at the current advertising trends, AI-powered sophisticated delivery systems are behind most online ads. Such systems are capable of placing ads in front of millions of internet users at the same time. The best thing — the coordination between the ads and the internet users occurs in real-time. And, it is ridiculously automatic.
The theoretical term for this kind of advertising is programmatic advertising. With this tech, artificial intelligence is used to profile visitors to apps or websites. Using this information, the targets are fixed and then ads are delivered. This becomes possible because of a modern ad supply chain that involves a complex network of services and platforms that have a different role to play at each stage.
Nowadays, the ad industry is being dominated by this type of AI-powered programmatic advertising. If we look at the predictions forwarded by eMarketer, more than 86 per cent of the display ads in the United States will be in front of the people because of automated channels. In fact, programmatic advertising is used in every 8 out of 10 mobile display ads.
Furthermore, we all see recommended products on Google and Facebook, don't we? How are these ads powered? Yes, you guessed it right, that’s AI. The stats are even more surprising — these firms captured around 90% of the advertising business back in 2017.
AI has made it extremely simple for brands to advertise online at scale. And, this is just the beginning. AI goes much further than just scaling when it comes to the future of advertising.
The current cut-throat competition has made it difficult for brands to create and deliver more relevant, more personalised, and more contextual ads to specific customer preferences. As a result, AI is the only way to fulfil this need. And ultimately, this fact holds a lot of implications for the future of advertising.
How AI Can Improve The Digital Advertising Trends
It is human psychology to personalize messages in face-to-face or one-on-one contexts. This happens with the people we already know. For example, we communicate with a family member, a friend, or a coworker keeping their possible response in mind. We know them and eventually have an idea about their preferences, desires, and behaviours.
But when it is about tailoring and personalizing messages at scale, there is a need for contextual data on thousands of consumers. In such a case, we need to have the customer information so that we can analyse it and then develop the right communication of each of them.
Humans do not have the required intellectual bandwidth, resources, and time for this enormous task. But thankfully, AI has that all. No wonder that more and more businesses are counting on AI for ad creation at scale.
Even though this is just the beginning of the AI era, it has already started impacting many advertisers out there.
For instance, AI can overrule all the advertising decisions made by your corporate team even if they have spent a significant amount of time and money to create them. To know this better, suppose you have created an ad on Facebook. The algorithm powered by AI analyses your ad and determines its relevance score. The delivery of your ad depends on the relevance score and it decides how effectively your ad is displayed in front of more and more customers. if your ad is less relevant to user needs or they don't just like your ad, the relevance score will be less.
A machine is responsible for deciding the relevance score of your ad and it has nothing to do with any creative and strategic decisions your team has made.
What does this mean?
Your business may not have to depend solely on humans to develop creative and strategic advertising decisions. You can imagine how AI can reduce the time and costs of advertising by effectively advertising on social media. In essence, it reduces your advertising budget to nearly half with effective email advertising and mobile advertising strategies.
To summarise this all, AI is going to change the entire advertising industry including all the elements in advertising processes. It is about to bring infinite opportunities for businesses in terms of precise analytics, content creation, semantic targeting, user experience improvement, and much much more.
As advertisers want to optimize huge amounts of data to create better ad campaigns and drive more impact, the popularity of Artificial Intelligence continues to increase. Before AI, businesses struggled to measure the effectiveness of their ad campaigns and determine where to allocate the budget.
AI-powered advertising affects not only the media spend but also creativity, analytics, and planning. Therefore, the future of advertising with AI is inevitable to target the right audience, offer more personalised experiences, make better decisions faster, and ultimately improve the returns of your investment.
The future of advertising will show us how the automation mechanism can dominate the marketing and sales domains, and help companies to save more resources while driving more value to their consumers in the long run.
How Is AI Used in Advertising?
Currently, there are a few main use cases of AI in advertising. Marketers and businesses are deploying AI-powered systems across channels and platforms. They include the following:
● Budget optimization and targeting
● Ad creation
● Ad management
● Ad platforms
Programmatic advertisements use AI and Machine Learning (ML) to regulate both sales and purchase using real-time factors. It includes almost all the ad exchange, party networks, and even platforms such as Instagram, Facebook, and Snapchat.
What Role Will Artificial Intelligence Play in The Advertising World?
AI is all about developing intelligent machines that can solve questions. As businesses continue to add newer customer touchpoints, the amount of data they are collecting from their consumers is going to be unimaginably huge in the future. Managing this amount of data is not humanly possible. And that’s where AI comes into play.
How Does AI Affect Marketing?
AI is certainly reshaping customer-facing services for businesses, advertisers, and marketers. It does so by improving efficiency and optimizing user experience. By reducing the resources, AI is eventually causing improved ROI and affecting businesses in terms of every aspect such as ad creations, ad management, advertising budgets, planning, implementations, and whatnot.
"name": "How Is AI Used in Advertising?",
"text": "Currently, there are a few main use cases of AI in advertising. Marketers and businesses are deploying AI-powered systems across channels and platforms. They include the following:
Budget optimization and targeting
Programmatic advertisements use AI and Machine Learning (ML) to regulate both sales and purchase using real-time factors. It includes almost all the ad exchange, party networks, and even platforms such as Instagram, Facebook, and Snapchat."
"name": "What Role Will Artificial Intelligence Play in The Advertising World?",
"text": "AI is all about developing intelligent machines that can solve questions. As businesses continue to add newer customer touchpoints, the amount of data they are collecting from their consumers is going to be unimaginably huge in the future. Managing this amount of data is not humanly possible. And that’s where AI comes into play."
"name": "How Does AI Affect Marketing?",
"text": "AI is certainly reshaping customer-facing services for businesses, advertisers, and marketers. It does so by improving efficiency and optimizing user experience. By reducing the resources, AI is eventually causing improved ROI and affecting businesses in terms of every aspect such as ad creations, ad management, advertising budgets, planning, implementations, and what not."
Article | February 27, 2020
Wouldn’t it be great if you’d know where to find prospects that are most likely to buy? Or what’s bugging them to delay buying? If it was possible to get insights on the purchase-intent of your buyer? Or if they are truly looking to buy? Most businesses spend huge amounts on advertising campaigns and still don’t come any close to meet their intended targets. If you’re looking to shoot a bulls-eye, landing huge B2B buyers from profiling alone is an imprecise way. This is where Intent Data comes in. Intent is an efficient tool that helps B2B marketers in precise prospect targeting based on their behavior when in the purchase cycle. Are you receiving mixed signals from your buyers? Intent Data is the solution. And it’s burying traditional marketing ways deep into oblivion. These tactics are widely adopted (40% to be precise) by B2B marketers around the world. But the information on ‘intent data’ has is found to be random, scattered and disconnected. Getting the customers’ buying journey mapped and monitored is becoming a sophisticated task for marketers today.