5 Myths To Get Over Before Using AI-Powered Marketing Tools
With AI-powered marketing tools coming to the fore, here are the most common myths to be aware of!
Access exclusive SMW+ content by marketers whose careers you can emulate with a free 30-day trial!
Artificial intelligence is rapidly changing the world. It’s touching every aspect of a person’s personal and professional life. It has plenty of benefits too. Thus it’s luring corporations to invest more and more in it.
The tech giants, such as the Facebook, Apple Inc, Microsoft, and others are already spending tons of money in AI research works. After conducting a study, Forrester made a prediction of 300% increase in the investment in AI in 2017.
AI is influencing many fields, and marketing is one of them.
A study shows that there is a 3% decline in telemarketing jobs in the United States every year. Robots are likely to replace these jobs because they are better at it.
We can see AI tools being used in various forms of marketing, such as digital marketing, social media marketing, search engine optimization, and others. If you’re reading this article, I believe you’re considering the use of AI-Powered marketing tools for your marketing campaigns.
They provide a very good return on investment. But there are things that one must be aware of before considering AI-Marketing tools, and mostly they are common myths about these tools.
It is important to be aware of the various tools of marketing, but it’s also equally important to be aware of the myths that can ruin our marketing efforts. Here are some of the myths that every marketer must be aware of to perform well with AI-Powered Marketing tools.
1. AI is a very recent technology for marketers
The first myth about AI is that many marketers still believe that AI is a very new technology for marketers. Those unaware of the technology often put forward this argument with people. However, this is a complete myth.
However, this is a complete myth.
Many marketers are already using AI-Powered technology to increase their return on investment. There are influencer marketers who are utilizing this technology to gain a competitive advantage over others.
According to the Forrester, the Demand-Side Platforms were applying machine learning tools for years to programmatic real-time bidding purpose. The people are seeing optimized ad campaigns because they were using AI very effectively.
If there are marketers who are utilizing AI, then it means that you can utilize AI too to get a desirable return on investment from your marketing campaigns. There are plenty of things one can do with AI to improve their marketing campaigns.
However, the thing is that one needs to gain some knowledge about Artificial Intelligence and the correct ways to utilize it before getting started. Like I said before, these technologies were being used for years, and this means that you will get help from many people regarding the tips and techniques of using AI-Powered tools.
The world of internet has made it simple for the people to search any kind of information. Just seek for the people who are already utilizing AI for marketing campaigns. Try to contact them and get some valuable information on AI and marketing.
2. AI is all about algorithms
Primarily, the term “Artificial Intelligence” relates to information technology. When people think of information technology, they basically think about programming languages. And, programming languages are closely associated with complex algorithms.
It is a complete myth that AI is some kind of programming stuff that is closely associated with algorithms. AI has nothing to do with complex algorithms. In fact, AI is all about data and information, and data is what businesses and marketers need.
AI helps in the analysis of the huge volume of complex data in a very short amount of time. Humans, on the other hand, would find it difficult to analyze and process it. In addition, AI also helps in finding the connection between various types of data, which humans may often miss.
If we take a look at the best algorithm in the world, then we can see that it has no ability to do much with a huge volume of data that is unorganized and inaccurate. The algorithm is designed by the programmer, which is just a set of procedures.
The algorithm will produce the same results from the data over and over again. But AI is much more different than that. AI can do a lot of things with data that we cannot even imagine.
3. AI works out like a magic
AI-powered machines can get you immediate results is another misconception among people. The fact is that it takes quite a bit of time to make that new machine work to its full potential.
It’s like a new and brilliant mind with a framework for solving complex problems, but with no experience at all to draw conclusions. Let’s compare the AI-powered tools with the human brain. AI-powered machines are comparable to a human brain, even though the latter takes more time to develop.
To make him/her solve complex problems, the human brain needs to be trained at first, no matter how genius it is. The Forrester has explained that the AI-powered tools can take quite a bit of time before it starts solving and processing organization data in an effective manner.
According to the Forrester, it can take around weeks for data organization, the creation of training models, and it could even take up to 6 long months to fully optimize the algorithm.
So do not fall for the myth. The new AI-powered machine that you’ve just bought will disappoint if you fall for the myth.
4. The AI autonomy can take away the jobs from the marketers
There are some groups of people who actually believe that robots will entirely replace human jobs in the future. However, this is just an opinion. AI will not take away all the jobs from human beings, but it will actually change the nature of jobs.
Change is something very common a human being needs to adapt to. We, as people living in the modern world, must be quick to learn and adapt to new things. Instead, AI will make the jobs easier for marketers, instead of taking away jobs from them.
The study shows that around 44% of the employees believe that AI helps in making the decision-making process easier for them with its automated communications that provide useful data and insights to them.
Every work does not carry an equal value, and it’s the truth. With the help of AI, the machine learning can carry out all the basic tasks, such as data compiling, report generation and others, while the marketers can focus on more important tasks, such as strategy development, cracking the deal, and so on.
The AI-powered tools will save a lot of time for the marketers, which will allow them to perform more efficiently. AI can help generate quality insights in quick time. Thus helping marketers to make an effective decision in a short span of time.
5. AI findings will have numerous great customer insights
It is true that AI is an insertion of human intelligence in machines. But it’s also true that AI machines cannot discern what they learn. They will just learn without caring, whether it’s beneficial for marketers or not.
For an instance, the AI machine may be able to find out the social media marketing trends by analyzing two separate groups of data, but the machine is not intelligent enough to break it down, according to the needs of the marketers.
There is a need of human intelligence as well. AI machines, generating insights from the data, will need human intelligence to draw proper conclusions. Do not think that AI will do each and every task related to information extraction for you.
Being aware of the myths associated with AI-Powered marketing tools helps in staying away from crappy assumptions. There are marketers who have failed in getting a decent rate of return because of their own imaginative assumptions.
The marketers who feel uncomfortable with AI tools have no other option, but to adapt because AI is the future. The study shows that around 16% of the American jobs will be replaced by AI within a decade. And, we can see the nature of jobs, changing drastically due to AI.
Implementing AI-Powered tools can greatly help in improving the return on investment from your marketing campaigns. Overcome these myths associated with AI and prepare an effective marketing strategy.
Learn the latest trends, insights and best practices from the brightest minds in media and technology. Sign up for SMW Insider to watch full-length sessions from official Social Media Week conferences live and on-demand.
Write for Us
Interested in sharing your ideas and insights with the world? Become a SMW News contributor and reach 300k readers each month.