Category: MARKETSĀ
Economics & Finance
Are brands able to maintain authenticity in their marketing when AI generates majority of content?
By Nashmia Kashif
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Artificial Intelligence (AI) is a program that performs tasks that demand lengthy calculations. AI works in 4 components. Firstly, it does machine learning which means it learns from trends to make decisions. This includes 3 stages: supervised learning, unsupervised learning and reinforcement learning. Secondly, a neural network that refers to a computer based model mimicking the human brain to pick up on the more complex patterns. Moreover, deep learning analyzes images, text and audio by large neural networks. Lastly, generative AI creates new content from advanced systems by studying patterns from extensive datasets.
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Businesses are training employees to work with AI. A research conducted by McKinsey and Company through the form of a survey has proven the overly usage of AI. As a result of their research, two-third of the surveyeeās said that their organizations have not started going over AI. According to the survey, sixty-two percent of participants have admitted that their organizations are now experimenting with it. . Judging from the fact that within the first five days of release, ChatGPT already had 1 million users, usage of AI is increasing a lot faster than we can predict. As of last year 78% regularly used AI as opposed to todays 88%. Forbes has predicted that by 2030 AI market size will reach $1,339 billion.Ā
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Looking back at the Mckinsey and Company survey, 64% respondents say that AI is opening doors for innovation. Businesses have gained multiple benefits from using this program for marketing. AI has increased marketing efficiency as it saves a lot of time. A survey conducted by Revv Growth proves that 75% marketers are able to focus on the creative work rather than wasting their time on manual work. Furthermore, rather than forming each and every email or message again and again, AI enables personalized marketing. This is done by learning demographics, behavioral signals and purchase intent. Thirdly, AI is forcing customers to make real-timeĀ decisions, improving cost efficiency and conversion rates, and enhancing the algorithm. Additionally, it gives useful customer insight, which means marketers are able to find their target audience, which refines the outreach strategy. AI is programmed to allow marketers to use their budget on the right platform. Due to this, brands donāt miss out on opportunities and donāt overspend on underperforming campaigns. Moreover, AI supports multi-channel marketing integration. Customers engage with different channels of communication, such as SMS or websites, before they interact with sales. This could cause miscommunication very easily; however, AI unites all these channels so that interaction becomes easier.
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The growing usage of AI in marketing also introduces risks. AI-generatedĀ marketing has lost individual voice and it is leading to brands losingĀ authenticity. The blind use of AI results in IP and copyright violations. Often, content that is created by AI may not consider the morals of a company which could harm the brand name and what it stands for. Moreover, there is a chance for potential bias on account of bias data and bias models. Relying too much on AI is killing creative minds. This is a bigger disadvantage than most people think it is because imagine a world where you are unable to distingui
sh between brands.
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Lastly, there could be a risk of high unemployment rates as AI is slowly replacing workers. This is proven to us by the Mckinsey survey as it suggests that 32% participants are expecting a decrease in workforce size in the upcoming year. Research has proven that over 10,000 jobs were lost in July. Think of how much the percentage of these jobs couldāve been in marketing. A field such as marketing requires brainstorming and newer ideas which is why it is overly utilizing AI. It is a field highly at risk.
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It is safe to say that companies are struggling to maintain their brandās authenticity after making use of AI, since they are unable to find a reason not to rely on it. It is true that AI comes with numerous advantages, the most considerable being that it could be best for customer relations. It organizes all communication platforms and provides them with exactly what they need but we have also learnt that marketers are addicted to mindlessly using AI. Brands should train themselves to control AI before it starts to control them for it is something created by man.Ā
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