We have come a long way with technology and have seen the Indian
marketing scenario evolve. With this evolution artificial intelligence and
digital marketing are now beginning to go hand in hand. With the ability to
collect the right data, analyze it accurately, applying it where necessaryand
then learning from it- AI is transforming digital strategy. As it continues to
advance, so will the capabilities to use it to improve digital marketing
strategies and valuable customer insights for companies.
For last few years, a couple of factors have led to AI being the
next big thing. A huge amount of data are being created every minute. In fact,
90% of the world’s data has been generated in the past 2 years. Computers can
actually derive logic and explanations of all these information.[1]
My all time favorite of how Indian brands are benefiting the most from the use
of AI include the fact that AI integrated marketing allows you to personalize
to another level. Facebook is a great example of this. Their algorithmic
newsfeed analyzes every user’s actions on the site in order to deliver
handpicked content that suits their behavior.
AI has indeed taken the Indian market by storm. With the advent of
AI and its growing inception in our technology-led environment, smartphone
applications have come to the forefront. With India being one of the world’s
fastest-growing markets for mobile applications, the app ecosystem is evolving
like never before -- from being mere extensions of business services to
intelligent end-user applications - capable of making decisions and predicting
behaviour.
Artificial Intelligence has the potential to transform and disrupt
both big and small businesses. Nevertheless SMEs which account for about 95% of
all businesses in India only have hardly begun their AI Journey. It is because
an organization's AI journey can begin only once they're well on their way in
their digital one; and a vast majority of Indian SMEs function in a really
traditional non digital manner.
The rest of businesses who've begun AI adoption have begun seeing
huge benefits with regards to enhancing operational efficiency as well as
increasing revenues. It has influenced all functions inside the organization
including marketing, HR, manufacturing, distribution, sales, legal and
compliance.
The key facets driving the expansion of AI in India are:
·
Usage of digital online
advertising and social network to reach more customers
·
Adoption of AI by international
competitors which is negating the labour arbitrage that exporters appreciated
·
Increased concentrate on bottom
lines and operational efficiency as opposed to just the top line in many
industries.
The gap between small businesses and big is set to expand as big
businesses make investments in analytics and AI, while tiny businesses continue
with their previous manner of conducting business. Small businesses can stand
to benefit a great deal from analytics however because they've to begin their
digital Journey. Some of the ways Small businesses can benefit from analytics
in 2020 are:
·
Using analytics driven
decisions for determining advertising spends: This may have a big influence in
assuring that they get a fantastic Return on investment to the consumer
acquisition efforts
·
Using analytics to improve
their social network content driven acquisition: Use social network analytics
to determine what content is engaging customers with their brand.
·
Using social media listening as
a substitute for market research: In a great deal of cases, social media
listening can behave a faster and much more cost efficient approach to
understand market demands and what consumers think about you or your
competition
Indian brands big or small know that the present
and future of marketing is undoubtedly digital. The new ageMillennials and Gen
Z-ers are living in a digital age — using smart devices to work, party,
commute, and play. In fact, the boundaries between what constitutes marketing
and smart devices and technology are a blur, and the medium has become the
message. Artificial Intelligence not only leverages self-learning systems by
using tools like data mining, pattern recognition and natural language
processing but also offers key business advantages over human intelligence.
Highly scalable and resulting in phenomenal cost savings I strongly support
Artificial Intelligence as a tool for India’soverall growth.
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