Category: AI & ML

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2017 – The Year of Artificial Intelligence

The AI Surge

 

The continued interest of businesses and consumers alike in going beyond the norm has spawned the massive rise of Artificial Intelligence globally. Even if we are ready or not, AI is definitely entering our lives and will not stop anytime soon. Be it NLP, ML, or cognitive computing, AI is providing tremendous gains to businesses in improving their sales and marketing functions, and assist in design of new business models.

2017-The year of Artificial Intelligence

Some eye-opening stats indicate the way businesses are embracing Artificial Intelligence like never before–

  • Gartner predicts that by 2020, almost 1/3rd of the companies will use AI in some form within atleast one of their primary sales processes.
  • IDC predicts that by 2019 (just two years down the line), 40% of the digital transformation initiatives will involve AI capabilities
  • IDC also predicts that by 2019, almost all IOT initiatives will be supported by AI capabilities

Be it self-driving cars or digital PA’s, AI is growing and growing fast. 2017 can rightly be called as the watershed year for AI. There are four primary reasons for this statement:

1 – Decreasing computing and bandwidth costs

Chips are becoming smaller and more cost-effective. This means that in all likelihood there will be a chip or processor in every single thing. This reversal of Moore’s Law will be the primary accelerant for increased adoption of Artificial Intelligence the world over. Also the steadily falling bandwidth costs means that faster speeds can be availed of at a lower price.

2 – Data – The oil needed to run AI machine

Any AI system is as good as the data it generates, analyzes and acts upon. Fortunately, with the rise of Social, Media, Analytics, and Cloud (SMAC), the volume and velocity of data being generated from various sources has literally exploded in the last decade. This data is now being harnessed in smart ways by AI systems to improve their performance and provide a better user experience. It is data that enables machine to learn. Instead of models, we now have actual data to describe various conditions to feed into the AI system.

2017-The year of Artificial Intelligence

Google’s AlphaGo Beats a Go World Champion

3 – Connected devices

The parallel rise of IOT and connected devices is also a big boost to the Artificial Intelligence industry.  RFID and sensors have enabled transmission of huge amount of quality data among connected devices that can also receive instructions and be programmed for specific actions.

4 – Improvements in Machine Learning capabilities

On its own, data cannot be used much. It needs to be refined and analyzed so that patterns emerge ad trends arise from seemingly random numbers and figures. With Machine Learning, algorithms and models can be applied to extract this advantage from unrefined data. Some examples include –

As evident, Artificial Intelligence will be a significant disruptor across major industries in the world. The key question here will be – Are you already to adapt to the magical world of AI?

How is machine learning changing social media?

Effects of Machine Learning on Social Media

What was once seen as a fiction in the scientific movies, has now become a reality- and its gaining popularity across the various sectors. Yes, we are talking about Artificial intelligence and machine learning. More and more companies are leveraging this technology to understand what the customer demands and engage for better success. Even the social marketing giant Twitter has joined the league.  The company has recently announced that it will now use insightful machine learning technology to recommend tweets to its users.

How is Machine Learning changing Social Media

It’s no secret that social media has become a new way to conduct a business. Just have a look at these mind-boggling statistics. 1.65 billion of web-users that are active on social media, 96% of brands use social media and in 2015 Facebook prompted 52% of purchases online, 71% of the people who have good social media experience are likely refer the same to others. Not to mention, about the treasured lead information that is neatly packed in the profiles.

How machine learning is changing the social media revolution?

1. To improve the visual experience

As per the statistics, 82% of the twitter users watch video content and around 90% watch it on a hand held screen.  Hence, to improve the visual experience further, Twitter has announced to purchase Magic Pony Technology, a London based technology firm that has developed machine learning techniques for visual enhancement. This technology will help Twitter to automatically sharpen the video and images. As videos and live streaming are critical for the next generation social media, so we believe that this Twitter strategy should work to its advantage.

2. It helps the social networking giants to market their products to the targeted users

Facebook uses deep neural networks to decide which adverts needs to be shown to which users. By tasking this work to the machines, the company can free itself from labour intensive activities. These include collecting the data, clustering it in an insightful way, and serving the data in a way to maintain supremacy in their domain.

3. Protects the reputation and keeps the data safe

Today, even the big conglomerates are vulnerable to data spam, hence Pinterest has started using machine learning technology to its advantage. With it, the company can detect the spam content and the users, recommend the content and predict the likelihood that a person will pin the content, can monetize ad performance.

How is Machine Learning changing Social Media

4. It helps to automate the data

Today there are 2.2 billon Google+ users, out of 111 million are active users and reaching out to so many users is always a concern. Hence, Google has followed the suite of machine learning through which it can automatically attach tags without further data input. The web giant actually wants to recognize abstract concepts (like sunset, beach) and attach metadata to it without the further mouse click.

Definitely, machine learning technology is stepping up its game and changing the future of social media trends and with its deep insights both the customers are getting benefited. Starting from big shops to small companies, everyone can use it to step up their competitive advantage and customer engagement objectives.

How Artificial Intelligence Can Improve Your Marketing Strategies

Data analytics and AI aren’t just concepts or futuristic trends anymore. These disruptive technologies are integral parts of today’s processes, business strategies, and professional endeavors. Entrepreneurs should comprehend the importance of Artificial Intelligence and Big Data, thus looking for the right opportunities to leverage these technologies.

In today’s times, the growth, development, and application of AI have been phenomenal. From healthcare to marketing, AI has revolutionized various processes and how. If we talk about the marketing sector, Artificial Intelligence has been the key to improving processes and marketing strategies.

How Artificial Intelligence can improve your marketing strategies

With numerous marketers including it in their existing marketing plans, AI has a long way to go. Let’s find out how Artificial Intelligence can change, diversify, and re-innovate the marketing sector.

How will AI act or react?

Market stats reveal a lot of information about the future of AI. If the reliable sources are to be believed, by the end of 2020, consumers will be responsible for managing almost 85% of business relationships. What is of paramount significance is that human interactions won’t be a part of these collaborations. With that in mind, it is high time marketers rethink their strategies and find out how AI can help them.

1.     Improving sales forecasting

Conversions are integral parts of effective marketing. If your marketing efforts are not fetching you huge sales or failing to convert your leads into potential consumers, it’s high time you integrate AI with the existing plans. Artificial Intelligence helps you strike a balance between side-by-side inbound conversations and conventional marketing metrics. Marketers will know about their prospects beforehand along with the idea of how to deal with them.

2.     Taking digital advertising to the next level

While creating digital marketing campaigns, crucial insights into consumer behavior, market analysis, and current trends will play a pivotal role. AI technologies and strategies can help you gain access to these insights thus taking your digital advertising efforts to the next level. By tapping into keyword search trends, online data, and social profiles, you can develop ideas of consumer preferences.

How Artificial Intelligence can improve your marketing strategies

3.     Comprehending consumers

AI solutions have an innovative and unique power of identifying consumer preferences in real-time. You get to know what your customers are thinking about your brand, its objectives, and promotions. Artificial Intelligence solutions can also help you tap into the social media channels. You know what your consumers want, harness the information, and develop your marketing strategies accordingly.

4.     Real-time communications

There’s nothing more effective than communicating with your consumers in real time. Direct interactions are critical to understanding your customers in a better way. You can engage in meaningful conversations and find out what your consumers think about your brand. Quite naturally, that will give you an idea of the ongoing trends thus helping you develop effective marketing strategies.

Signing off

Successful and targeted marketing is the key to establishing your brand, earning huge profits, and achieving your sales goals. With the right AI solutions by your side, you can achieve that within the shortest time span!

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