There is wide consensus about the fact that traditional outbound marketing campaigns are increasingly becoming far less effective at winning and retaining customers than they once did, especially in a world that is increasingly dominated by AI (Artificial Intelligence) powered performance marketing.
According to John Gallagher, IBM Global Head-Performance & Programmatic Marketing, to stay differentiated in today’s "digitally on" world, marketers must deliver contextual and insight- driven engagement with customers. Speaking about it he said, “AI has been seen in financial services where you have seen the transition from human trading to automated trading. So largely we are in the middle of this transition. We are at a stage where a lot of basic information and data is available; the question is what can you get from a very high level of differentiated insight? This is where cognitive or AI comes to play because it can allow you to go outside of the structured data and get a better understanding of people’s behaviour and profile them in a manner that yields more value. This is where cognition comes and that is where cost effectiveness and results come into advertising.”
Gallagher further underlined that brands that understand this have been able to lift and scale performance marketing outcomes. In his view, with the emergence of big data and AI, marketing is able to create seamless brand experiences for its consumers.
“I would define AI as Augmented Intelligence while some people may call it Artificial Intelligence. I think AI is the augmentation of the human being. At the same time, no machine is at this point, or probably will ever, be close to human intelligence. However, AI augments the human being. It can actually free up the individual from mundane data in order to bring in the aspects of human intelligence, which will ultimately benefit the marketer,” added Gallagher.
Speaking about how the Indian market is adopting AI in a big way, Gallagher commented, “India is a potential AI market and a powerhouse of development software development, innovation and will soon be the largest developer base in the world. If you look at the patterns of what developers in India want to do or do, they will be putting cognitive intelligence on massive levels across most projects in the next 2-3 years.”
Terming AI as the real differentiator as far the future of advertising and marketing is concerned, Gallagher further stated, “AI will be the actual differentiator in the advertising and marketing world in the next couple of years. This will be true for media of all types and will even manifest in the actual advertising experience that will be offered to consumers. So, if you want to be differentiated, this is where you need to move to.”