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Marketers can’t deliver relevant advertisements and messages to consumers unless they understand their motivations and behaviors. This requires following, collecting, and analyzing the digital trail of consumers to understand their demographics and psychology. Artificial intelligence (AI) allows marketers to gather consumer insights and then predict the consumer’s next action based on previous actions. AI makes predictive assumptions about people in a company’s demographics to help the business understand the desires, motivations, and actions of those it wishes to convert as customers. Predicting Actions To see how this looks in practice, assume that one group of people took three specific actions. Thanks to AI, marketers can then accurately predict that a similar group will take the same third step after completing the first two steps in the same manner. This type of predictive analysis is how advertising platforms and computers create what is known as a lookalike ...

Artificial intelligence, more commonly known as AI, is continuing to make a big impact in popular culture as well as numerous industries. Examples includes chatbots that acts as customer service representatives, personalized recommendations for customers based on past buying history, and automated driving machines. To say that AI is impacting the world at large is quite an understatement. However, marketing has been slow to adapt to AI and realize its many benefits. When you first start using AI, it might seem like you’re speaking a different language. In a sense, you are. That’s why it’s important to master its terminology as well as its basic functions. Below are terms and definitions that everyone working with AI should take the time to master. Algorithm The term algorithm describes a formula that represents a relationship that exists between two or more variables. It’s helpful to think of algorithms as a list of instructions that include a finite end with the purpose...

When people first heard the term artificial intelligence (AI), they couldn’t really grasp what it meant. The Internet was still growing slowly, and people weren’t at a point of accepting that AI would become a daily part of life. Both consumers and the Internet have evolved since that time and people have greater expectations of the companies they do business with online. The mindset of marketers has shifted as well. Since consumers now expect greater personalization, they must learn how to deliver it without spending more money or time. AI can help them achieve this goal. What is the Definition of AI? AI can be either a machine or device that learns to understands its unique environment and uses this information to increase the likelihood of success in achieving a goal. Some of the most well-known forms of AI include robots, self-driving cars, and facial recognition software. Currently, a large amount of new technology exists that focuses on providing an enhanced customer ...