Artificial Intelligence (AI) is transforming the way marketers approach their campaigns if it hasn’t already. Whether it be analyzing data or engaging with customers, marketers that can leverage AI technology will undoubtedly outpace the ones that aren’t. Therefore, it’s crucial for you to stay informed about the latest technologies shaping the industry if you want to stay ahead of the competition, no matter at what stage your business is.
Here are five AI technologies every marketer should know about.
1. Natural Language Processing (NLP)
NLP enables computers to understand, interpret, and generate human language, making it an invaluable tool for marketers. With NLP, marketers can analyze customer reviews, social media posts, and other text-based data to uncover insights about customer sentiment, preferences, and pain points. Additionally, NLP can help create personalized content, automate customer service, and improve ad targeting.
NLP tools to consider
IBM Watson Natural Language Understanding
Pricing: Lite plan (free) with 30,000 NLU items per month; Pay-as-you-go plan starts at $0.0035 per NLU item.
Website: https://www.ibm.com/cloud/watson-natural-language-understanding
Google Cloud Natural Language API
Pricing: Free tier (up to 5,000 text records/month); Basic tier starts at $1.00 per 1,000 text records.
Website: https://cloud.google.com/natural-language
2. Machine Learning (ML)
Machine Learning is a subset of AI that allows computers to learn from data and make predictions or decisions without being explicitly programmed. ML is a game-changer for marketers, as it can process vast amounts of data and identify patterns or trends that would be impossible for humans to detect. ML can be used for different marketing applications, such as customer segmentation, churn prediction, and campaign optimization.
Machine learning tools to consider
Google Cloud AutoML
Pricing: Varies by service (Vision, Natural Language, etc.); visit the website for specific pricing details.
Website: https://cloud.google.com/automl
Microsoft Azure Machine Learning
Pricing: Free tier available; Paid plans start at $20 per month.
Website: https://azure.microsoft.com/en-us/services/machine-learning
3. Image Recognition
Image recognition technology can identify and classify objects within images, making it a powerful tool for marketers to understand visual content. This technology allows marketers to analyze user-generated images on social media platforms, providing insights into customer preferences and behavior. Additionally, image recognition can be used to develop engaging ad campaigns, enhance product discovery, and monitor brand presence.
Image recognition tools to consider
Amazon Rekognition
Pricing: Free tier for 12 months (5,000 images/month); Pay-as-you-go pricing starts at $1.00 per 1,000 images.
Website: https://aws.amazon.com/rekognition
Google Cloud Vision API
Pricing: Free tier (up to 1,000 units/month); Paid plans start at $1.50 per 1,000 units.
Website: https://cloud.google.com/vision
4. Chatbots and Conversational AI
Chatbots and conversational AI will soon become an essential part of modern marketing strategies. These AI-powered tools can already engage with customers 24/7, providing instant responses and assistance. Prepare yourself to be blown away with future upgrades. Chatbots can handle a variety of tasks, such as answering frequently asked questions, guiding users through the sales funnel, and providing personalized product recommendations. By automating these tasks, you save time, reduce costs, and improve customer satisfaction.
Chatbots and Conversational AI Tools you may want to consider
ChatGPT
Pricing: Free; chatGPT+ $20 per month
Website: chat.openai.com
Dialogflow (by Google)
Pricing: Free tier available; Essentials edition starts at $0.002 per text request.
Website: https://dialogflow.cloud.google.com
Tars Chatbots
Pricing: Starting at $99 per month for the Basic plan.
Website: https://tars.io
5. Predictive Analytics
Predictive analytics uses AI and ML techniques to analyze historical data and make predictions about future outcomes. For marketers, predictive analytics can help optimize campaigns, forecast demand, and identify potential leads. By leveraging predictive analytics, marketers can make data-driven decisions, allocate resources more efficiently, and improve overall marketing performance.
Predictive Analytics tools you may want to consider
RapidMiner
Pricing: Free tier (1 user, 10,000 rows of data); Paid plans start at $2,500 per user per year.
Website: https://rapidminer.com
Alteryx
Pricing: Starting at $5,194 per user per year for the Alteryx Designer plan.
Website: https://www.alteryx.com
Conclusion
As AI continues to advance, it’s crucial for you to stay up-to-date with the latest technologies and trends because they will shape the future of marketing. You can gain a competitive edge, streamline processes, and create more engaging customer experiences by incorporating these AI technologies into your strategies. Stay informed and be prepared to leverage the power of AI to transform your marketing efforts.