This is a free excerpt from AdNews print magazine June edition. You can download a digital version of AdNews and subscribe to the premium print edition here.
Why the rise in AI?
Artificial intelligence (AI) is far more than a buzzword. In a world where marketers are continually pushing for better consumer personalisation and solid marketing ROIs, AI helps by giving that high degree of precision and micro-targeting that’s not possible for humans. The rise of this term across the media and marketing landscape can be attributed to the increasing improvements in technology and smarter algorithms that are syncing in with higher quality data sets.
AI removes the need to spend resources on lower level processes which can be handled by a machine. It helps the marketer as it can analyse data patterns and deliver results not humanly possible. “Think of AI as a Rubik’s cube on steroids”, says Oracle Marketing Cloud regional director Will Griffith.
The role of data in AI
When you layer or integrate data sets, such as first or third party data, within AI, the increasingly sophisticated AI algorithms absorb that new-found knowledge and can not only respond to changes better, but can also create changes – in real-time. AI machines work best if they are given lots of data that helps them understand what criteria achieves the goal. The AI machine can learn from that data and be better at predicting how to get to the goal.
AI in a media landscape:
While AI stands for artificial intelligence many say there’s nothing artificial about it. Oracle Marketing Cloud thinks of AI as ‘adaptive intelligence’. It says when you have the analytics layer for AI, this intersection of human judgement and machine automation creates a far more personalised and relevant experience for consumers, on behalf of brands. AI learning uses first and third party data to make the best recommendation possible in real time – after each new click – all with the aim of driving a sale. When it works (e.g. a sale is made) it will remember you and what your hot button was, so that when it encounters another visitor who looks and behaves like you, it knows what to do sooner in the journey, increasing the likelihood of another sale.
In a nutshell
Artificial Intelligence (AI):
AI relates to the intelligence that is shown by computers. As algorithms become increasingly sophisticated they can react and and ‘adapt’ to changes far better and slicker than ever before.
The concept of computer ‘intelligence’ relates to how machines learn through interaction with their environment how to best achieve a goal.
The next steps:
1. Understand where and how AI can help move a marketing strategy forward
2. Have a clearly defined use case, goals and know how to track them
3. Lose the fear that you will loose control of marketing processes
Want more on Oracle Marketing Cloud? See here. And keep an eye out for our next Ad Tech 101 with Ooyala.
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Check out previous 101s below:
Ad Tech 101: Header Bidding Unwrapped
Ad Tech 101: Conversion Rate Optimisation
Ad Tech 101: The Marketing Cloud
Ad Tech 101: Performance Marketing
Ad tech 101: Tackling the data challenge
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