Five Predictions on How AI Will Disrupt Marketing

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Hi AI Pro!

We’ve got some useful data for you today about notable AI marketing tech trends and forecasts—and some funding news about an interesting little AI startup based in Portugal that focuses on the sports (soccer, specifically) marketing business .

TODAY’S AI-POWERED MARKETING UPDATE:

• Top Forecast: Five Predictions on How AI Will Disrupt Marketing

• Startup Funding: AI Sports Marketing Startup Full Venue Raises $2 Million

• AI Marketing Trend: Chatbots and Virtual Assistants Driving Conversational AI Demand

• AI Innovation: Ways That ML and NLP Are Supporting ID Resolution

• Today’s Master Marketing Tip: Philip Kotler, “Father of Modern Marketing”

TOP FORECAST

Five Predictions on How AI Will Disrupt Marketing

With a breakdown in institutional trust and as AI increasingly disrupts marketing operations, Emily Weiss, a principal researcher at Gartner, presents a list of five high-level predictions on how developments will unfold over the next few years:

• By 2026, 80% of senior creative roles will be required to use GenAI.

• By 2026, 60% of CMOs will adopt solutions to protect their brands from GenAI-driven deception.

• By 2025, a perceived decay in social media quality will drive 50% of consumers to significantly limit their interactions.

• By 2027, 20% of brands will differentiate their businesses and products as “AI-free.”

• By 2028, AI-powered search will reduce brands’ organic site traffic by 50% or more.

“AI continues to reshape the efficiency and creativity of the marketing function, changing everything from search behavior to staffing considerations,” Weiss writes.

STARTUP FUNDING

AI Sports Marketing Startup Full Venue Raises $2 Million

Full Venue, a Portugal-based provider of AI-powered customer segmentation software, announced it has raised $2.2 million of venture capital, as it seeks to build on its early success winning contracts with several pro soccer organizations in Belgium, Wales, and Romania.

Full Venue AI creates models for increasing different marketing metrics and generating new potential customer targets. The company’s AI is designed to improve how soccer associations and clubs monetize their digital presence through segmentation, identifying potential customers with higher sales potential.

“When you think AI and you think about everything on the brand and the agency side, you think about complicated, and you don’t know what to do with it,” Tiago Costa Rocha, CEO of Full Venue, told GlobalData Sport. “We just want to add a small piece of AI segmentation. We’re focused on a niche that’s really easy to use and not so expensive.”

“We have the benefit of having an industry that everybody loves,” Costa Rocha added. “If you receive a message from a telephone company on your email, you will not even look at it, but if you receive a message from your club showing some product that you love, you have looked at it probably more than 10 times.”

Full Venue plans to establish a strong presence with major soccer championship event promoters in Europe over the next two years, before expanding into the U.S., according to the company’s CEO.

AI MARKETING TREND

Chatbots and Virtual Assistants Driving Conversational AI Demand

The conversational AI market will grow in size from $8.5 billion last year to $73 billion in 2033, according to the market research firm Brainy Insights.

As a result of rapid adoption of chatbots and virtual assistants that provide 24/7 service, the ecommerce segment has dominated the Conversational AI market, with a market share of 24% in 2023. These are also expected to be the fastest-growing applications worldwide, the firm reports.

“One great threat that might hamper the growth of Conversational AI in the market is data security and data breach,” according to Brainy Insights.

“Malware, phishing, cache hindrance, and ransomware are some of the major threats that may be used in employee personification. Which, in turn, may harm the organization’s credibility and lack of security issues with the organization.”

AI INNOVATION

Ways That ML and NLP Are Supporting ID Resolution

With people using a wide array of devices and online/offline touchpoints, at the same time third-party data becomes less available due to privacy regulations and tech company policies, marketers are struggling to track which devices and behaviors belong to an identifiable person.

Compounding the challenge, customers increasingly expect personalized experiences. According to a recent report by Twilio, success in this regard leads to a 21% increase in customer lifetime value.

Moreover, ninety percent of marketers surveyed by Think with Google say they understand that personalization significantly contributes to profitability. But, again, succeeding requires the ability to track customer behavior.

As she points out in a recent report, Pamela Parker, the research director at Third Door Media's Content Studio, “Identity resolution is critical to marketing success.”

On the optimistic side, describing how machine learning (ML) algorithms are “riding to the rescue,” Parker writes that the tech can analyze large datasets and identify patterns, “improving matching when data isn’t exactly the same on different platforms.”

“These technologies are also useful for automatically cleaning and standardizing data, as well as correcting errors and finding anomalies,” she says.

“Predictive modeling can forecast future behavior based on historical data, enabling systems to predict the likelihood of different data points belonging to the same individual.”

Additionally, new generation ML algorithms can process unstructured data such as social media posts and emails so that it can be used for identity resolution, Parker writes.

TODAY’S MARKETING MASTER TIP:

Photo courtesy of Gabriel Chmielewski

Philip Kotler has been a marketing consultant to IBM, General Electric, AT&T, Bank of America, Merck, Motorola, Ford, and others, as well as Professor at the Kellogg School of Management at Northwestern University.

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THAT’S ALL FOR TODAY, FOLKS!