In the ever-evolving world of marketing, staying ahead of the curve is crucial for businesses looking to make a lasting impression. One of the most groundbreaking advancements in recent years is the introduction of Generative AI, a cutting-edge technology that revolutionizes how marketers engage with their audiences. The technology is redefining the possibilities for marketers and businesses, from crafting highly personalized content to elevating audience engagement.
Recent statistics show that 77% of companies are using or exploring artificial intelligence, including generative AI. This technology is based on an algorithm that is fed existing content to create iterations with new content such as audio, code, text, pictures, videos, and simulations. The goal is to ‘teach’ machine learning systems by using examples of previous content, enabling the machines to ‘artificially think’ and create new content.
Marketing professionals in major industries are rapidly adopting generative AI inside their respective marketing industries. According to the infographic, legal and professional services, high-tech and telecom, financial services, retail and consumer goods, automotive and assembly, and pharmacy and healthcare are the major industries that are utilizing generative AI in their operations.
Generative AI is also utilized in various marketing areas, such as email marketing, customer service routing, fraud detection, and cross-selling and upselling, among others. AI technology can also assist in new areas of growth, and it can enhance business productivity by up to 40%.
Despite rapid growth, specialists explain that generative AI is still in its infancy, and business professionals should understand what AI is capable of doing and apply it to real business problems and use cases. The introduction of generative AI in the marketing world is a game changer that will continue to transform the industry.
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