AI in Digital Advertising – The Year Gone by and New Year Full of Promises and Surprises Artificial Intelligence Altered the Digital Marketing Landscape Permanently in 2018
By Kuldeep Chaudhary •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The thought around AI got altered from "whether or not to use it' to "when to start with it?'The the prominent role that AI took in digital advertising to start with was optimizing ad campaigns from the deliverability standpoint. The ad campaigns in the AI regime moved away from a one-size-fits-all approach to become more personalized, focused and dynamic. The campaigns were optimized on-the-go 24x7 which led to better leads generation resulting in better ROIs. AI has proved its mettle in curbing ad wastage too as a result and has brought down the lead generation costs by more than 50per cent. An amazing feat by any standards, this cost advantage will increase with the ever-evolving intelligence of the algorithms. AI, in 2018, tilted the parameters of gauging the effectiveness of digital campaigns from clicks and engagements towards leads and conversions.
All this is Just a Start and we Will see a Lot More Coming out of the AI Stables in 2019
AI will sift through astronomical amounts of data that is being generated today to figure out trends and patterns in order to know more about the customers, their interests and their digital hideouts on-the-fly. This real-time audience insight will enable advertisers to unravel the underlying insights and take better data-driven decisions. We might also see real-time person-based bids happening on the basis of pin-point intent targeting.
Accuracy, measurement, and transparency will be the keywords in 2019 as marketers will put more thrust on measurable business outcomes. This is somewhere linked to the menace of Ad frauds which has been a thorn in the flesh of the advertising fraternity. AI has shown immense promise and will prove out to be a great tool to fight ad frauds and fake leads. Along with enhanced targeting, we will witness AI playing a decisive role in improving the overall transparency thus enabling the marketers to keep their brand safe while spending programmatically. As a result, we may see an increase in the spend on ad inventories available outside Google and Facebook networks, which holds the major share of about 90per cent in the total digital ad spend currently.
AI Becoming Indispensable
AI will become an indispensable part of the digital marketing function owing to the data deluge we are witnessing today. According to a recent report close to 1 million terabytes of data is generated on a daily basis globally. Funnelling such colossal data into actionable insights in real-time seems impossible humanly. However, AI taking over digital marketing completely is not a possibility, at least in the foreseeable future. It will be the fusion of human intelligence and AI that will bring home the real business value for companies.
The ever-evolving tech will continue to surprise the industry with what all it can and is about to offer. AI is here to stay but one has to evaluate the gaps and be sure of the questions they want to be answered through AI.
