It will read our minds. It will be intuitive. It will help us look for the exact song, pizza, car, shoe, airport, date, picture angle and what not, that too without any precious minute spent spelling anything out.
It is like our personal Genie, which is now sitting right where it is handy, inside the bottle we carry all the time: our phones.
When cookies and apps came into advertising, marketers were joyous. That was a paradigm shift.
So, what will happen now when AI is not just an extra garment users may or may not drape over their phone, but when AI becomes the very guts of that phone?
Better sales conversion, high level of content optimisation, hyper-personalized ads, laser-sharp targeting and segmentation, or stricter privacy walls? New laws or consumer hypnotism? The questions could not be more well-timed for marketers-in a year when third-party cookies dot the headlines and AI has been tucked deep inside the smartphone, is the data economy going to change in a big way?
THE FIRST-PARTY HOME TOUR
The size of AI in marketing is pegged at USD 12.64 billion in 2022, and it is expected to grow at a compound annual growth rate or CAGR of 26.6% during 2023-30, as estimated by Grand View Research. Zion Market Research echoes this sentiment, putting this figure at USD 12.5 billion in 2022 and expecting it to touch USD 72.1 by 2030.
According to Salesforce's State of Marketing Report 2024, marketers increasingly aim for more customised experiences based on detailed data like individual behaviours, preferences, interactions, or other specific indicators.
They also look at AI to deliver more insights, predictions, automated workflows, and content.
Note that high-performing marketing teams are 2.5x more likely than underperformers to have fully integrated AI into their operations.
This story is from the November 2024 edition of Voice and Data.
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This story is from the November 2024 edition of Voice and Data.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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