The role of artificial intelligence in today’s digital advertising – The Financial Express

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  • May 29, 2022
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By Manu GuptaIn recent years, the world has been more inclined toward technological advancement and the emergence of new-age technologies in the digital space affects every sector throughout the world. As a result of this, improvements in various machine learning techniques, like AI, have been playing a big part in digital advertising.

According to The Insight Partners’ analysis, the worldwide Artificial Intelligence in the marketing sector is estimated to reach US$ 107,535.57 million by 2028, growing at a 31.6% compound annual growth rate (CAGR). However, AI is transforming not just the overall operations, but the digital advertising landscape as well, from chatbots and virtual assistants to content development and user experience upgrades, among other things. 

Digital Advertising benefits from the use of Artificial Intelligence.

AI helps to make appropriate judgments, AI thinks like a human to speed up and simplify the planning as well as execution process. Once the requirements are implemented and the inputs are provided, AI automates the entire routine procedure. A lot of growth marketing agencies are making use of AI & Machine learning. ET Medialabs is one such agency that has been successfully capitalizing on AI & Machine learning in order to provide sustainable business growth to its partner brands. At ET Medialabs, we understand the importance of moving with time and have made Artificial Intelligence and Machine learning a part of our daily execution processes. Our daily reporting contains the full-funnel view of all campaigns across Google and Facebook and helps us make informed decisions to drive sustainable growth. 

AI offers many other benefits as well, as mentioned below – 

Efficient Data Monitoring: It is common knowledge that marketing without data is like driving with your eyes closed. Taking data-backed decisions helps to drive real impact and real results through all the marketing channels.

More Effective Advertising: With AI’s data-driven research, businesses can now create a more effective advertising strategy for their company. By using technology, businesses can now forecast and improve the user experience and improve the user experience to meet their needs based on their buying patterns and decisions.

Increased Productivity and ROI: Using AI in Digital Advertising increases productivity because the operations are automated based on the instructions supplied. AI can also figure out which content works best and assist with content selection. As a consequence, the appropriate content reaches the right audience, resulting in a higher Return on Investment (ROI).

Enhances User Experience: Machine Learning (ML) is a concept used by Artificial Intelligence (AI) to learn about its users. It can analyze their habits and display content tailored to their preferences, keeping the audience interested and engaged. People are more inclined to acquire products or services if they have a pragmatic user experience.

Using AI to Improve Digital Advertising Strategies

Since AI in digital advertising is gaining prominence and will continue to do so, it is best to understand and implement it at the earliest to give it a head start.

Personalize Content will reign supreme  

In today’s world, when every business and customer is focusing on personalized content more than ever before, it is not surprising that personalized content is the new trend. Personalization is currently the driving factor behind corporate growth. 

Personalized advertising (formerly known as interest-based advertising) targets people based on their Account viewing history, the websites they’ve visited, and/or the interests and demographics they share. For example, an advertiser selling a product may reach customers through advertising. However, they have to implement personalized advertising to show their products to people with such interests on non-product-related websites.

Web design powered by AI

It is difficult to design a website that functions and defines the whole system of a business.

But the matter of fact is that the difficulty level goes up without knowing HTML, CSS, and JavaScript. AI, on the other hand, has made it feasible. All we need is content, a call to action, images, and a page layout to get started with the use of AI.

AI-powered Chatbots

A chatbot is a form of Artificial Intelligence software that can replicate a human conversation by using pre-programmed statements and expressions. Thanks to Artificial Intelligence, they are now playing a more distinctive role than ever before in digital advertising. Chatbots are incredibly useful for automating various processes, answering common customer questions, and even making sales. 

Summing Up

New-age technologies are digitally affecting every sector throughout the world. In this scenario, AI has become a more powerful tool, loaded with additional capabilities. 

However, Artificial Intelligence is drastically growing and its application will increase in the digital advertising industry in the coming years. Many digital advertising industries are attempting to equip themselves with AI in order to satisfy these expectations. With the growth of the digital era, adopting AI for advertising will provide customers and companies with the competitive edge they require.

 The author is  AVP, Digital Success of ET Medialabs. Views expressed are personal.

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Source: https://www.financialexpress.com/brandwagon/the-role-of-artificial-intelligence-in-todays-digital-advertising/2541323/