Artificial intelligence is providing new tools to meet consumer demands for personalized marketing, and so AI is rewriting the rulebooks, according to Marketing Land. Recent studies claim that most marketing experts believe this will cause a tremendous shift in their strategies and the revenues brought in by other industries.
AI systems are expected to bring in $12.5 billion by the end of 2017, spurring more corporate investment which will drive an annual growth rate of more than 50 percent at least until the end of the decade.
The banking industry will be affected by the consumer demand for personalized interactions available through AI. In a survey of 600 bankers, 80 percent agree this new technology will optimize information gathering and change the way bank customers interact with their local branch.
Another sector of industry expected to benefit from the rise of AI tech is gaming companies.The new tech can simulate human-like behavior in simulated characters, allowing a higher degree of interactivity between machine and users.
Finally, mobile devices will be affected by the AI infusion. For instance, telecommunications companiesare investing money into the new technology to analyze and predict human behavior in an effort to develop predictive strategies that will encourage consumers to stay with their brand. AI is expected to plan tactics focused on at-risk customers, offering incentives to encourage retentions, such as discounts or other renewal offers.
Artificial intelligence offers a wide-range of automation in many industries. Some people become anxious at the mention of automation for fear of losing jobs. However, in the case of AI, more jobs are being created to maintain and advance the new industry.