As the artificial intelligence market is projected to grow by 53% in by 2020, advertisers are looking for ways to use the technology to their advantage. Vernon Vasu, CMO at ReFUEL4 states that researchers are looking into using AI for creative development in the future, but for now advertisers can use AI’s incredible data mining and organizing capabilities to understand audiences like never before
Artificial intelligence is one of the most buzzed-about terms in technology. The AI market is estimated to reach $5.05 billion USD by 2020, up from $419.7 million USD in 2014 – a 53% increase. With the launch of Facebook’s chatbots, Amazon’s Echo, and IBM’s Watson, companies in many fields are considering how they can use new AI tools to their advantage.
Advertising agencies that use AI, machine learning, and image recognition are hyper-targeting consumers by learning their interests and tastes. An everyday example is Facebook’s targeted ads, which use artificial intelligence to narrow target segments down in a matter of hours. When it comes to creative, however, machines still have a bit of learning to do.
While AI can be used to analyze more data than a human ever could, human creatives understand nuance, cultural references, subtlety and sarcasm much better than a robot can. Much of today’s image recognition technology is still flawed.