In a short span of time, Artificial Intelligence and Machine Learning (AI ML) have become the central marketable assets for SaaS and Cloud businesses. “Technology Maturity” of the organizations which are already offering and leveraging AI ML and data infrastructure in the Cloud range from start-ups, to innovators and pioneers, to leaders and trend-setters.
The worldwide public cloud services market is projected to grow 17.5 percent in 2019 to total $214.3 billion, up from $182.4 billion in 2018, according to Gartner, Inc. Forrester predicts the Public Cloud market to reach $411 billion by 2022.
SaaS and Cloud businesses are increasingly leveraging AI and Machine Learning platforms to scale their revenue by offering better products and personalized customer experiences. According to Adobe’s Digital Intelligence Briefing, leading companies are more likely to adopt and use AI for Marketing to deliver compelling customer experiences. In the next 18 months or so, by simply looking at companies that have annual revenues between $100 and $150 million, the proportion of AI-driven companies would grow to 24%. The biggest growth factor pushing the adoption of AI within these companies is –Data Analytics, followed by Personalization of On-site content and experiences.
AI Technology RADAR: Shaking the IT Foundations with AIOps- Part 1
“The increasing adoption of SaaS applications and other cloud services impacts the management, dissemination, and exploitation of enterprise content.”
The AI economy worldwide is projected to reach $36 billion in 2019. By 2022, this industry would more than double to reach $79 billion. The AI-enabled retail industry, discrete manufacturing, FinTech, and Product Experience platforms would be the largest adopters of AI and ML tools for their various Marketing and Sales efforts.
According to McKinsey, Internet Services and Software companies that have grown only by 20% or less annually, it’s most likely to cease existing in the next 3 years. Innovating with AI ML Marketing Could hold the key to sustaining brand reputation, and revenue growth – keys to surviving in the cut-throat competition.
That brings us to understand how important AI is for Marketing and driving Sales for high-tech businesses, especially those that provide IT Cloud and SaaS products.
We already know the evolution of Marketing Technologies and how MarTech RADAR is growing in size and scale. When these MarTech stacks begin to adopt AI applications to boost the ROI and effectiveness in SaaS and Cloud operations, we see AI Marketing bubbling up. Modern B2B and B2C SaaS Cloud enterprise platforms are unique by virtue of many sophisticated components converging together to make things slightly complex for end-customers to fully understand what part of AI is actually working for them.
Therefore, defining AI Marketing becomes very critical to selling to SaaS and Cloud customers.
Artificial Intelligence Marketing is a combination of AI principles and applications directly applied to Marketing concepts with the objective of anticipating customer’s behavior and acquiring a customer by delivering highly contextual, real-time and personalized customer experiences at any stage of the buying journey.
