At Advertising Week New York 2023, Vincent Yates, the Chief Data Scientist at consulting firm Credera, emphasized the growing importance of generative AI. He mentioned that a common misconception is ignoring its relevance, but as generative AI usage rapidly expands, many may find themselves utilizing it in their professional roles without even realizing it. According to our forecast, out of the projected 100.1 million generative AI users in the United States next year, a significant 64.7% will be integrating it into their work.
Marketers need to adapt to this emerging trend. Jay Pattisall, Vice President and Principal Analyst at Forrester, stressed that by 2025, professionals should be prepared to apply their generative AI skills as an integral part of their job responsibilities. To make this transition, the following steps are crucial:
Develop a Clear Vision: Marketing teams will be most comfortable incorporating AI into their practices when companies have a comprehensive understanding of how generative AI can enhance their operations. Providing a clear vision is essential, especially as concerns about AI replacing jobs persist.
Create a Playbook: While it's important to record all prompts, marketers should also establish a distinct framework that defines effective and ethical generative AI usage.
Learn from Pioneering Companies: Examining businesses that are already effectively utilizing generative AI can provide valuable insights and inspiration for implementation.
Incorporate Personalization: Instacart offers an example of how generative AI can personalize user experiences using natural language processing. Users can input requests like "create a weeklong meal plan for a family of four with a $200 budget" and receive a personalized shopping list. The future potential of this technology, such as personalized storefronts tailored to individual shopping habits and preferences, opens up significant advertising opportunities for precise product targeting.
Implement Localization: Generative AI is highly effective for localizing campaigns, allowing global teams to quickly customize aspects such as local sports teams, weather information, and place names. This adaptation ensures that marketing efforts resonate with regional audiences.
Streamline and Organize: eBay Ads has adopted generative AI to assist sellers in managing thousands of listings. This technology, driven by natural language chat functionality, enables sellers to instruct the system to identify and promote specific items, such as white sneakers, streamlining the campaign creation process.
In summary, the rise of generative AI is inevitable, and marketers must prepare to embrace this technology. By enhancing their skills, focusing on personalization, and leveraging localization, they can effectively incorporate generative AI into their strategies and remain competitive in the evolving marketing landscape.