Post contributed by:
Product Management Team – Emerging Technologies
Artificial intelligence (AI) is defined as intelligence that is portrayed by machines. AI enables machines to perform cognitive tasks that are typically done by humans. However, much of what we see in the sci-fi movies is what scientist have been exploring since the 1950s. No doubt, much innovation has happened within the sector of Machine Learning and Deep Learning, which are segments of AI. While much innovation has to continue while AI is able to debut itself fully within digital advertising, its early onset and testing is well underway. Similarly, blockchain protocol aims to improve the landscape by proving transparency and streamline the supply chain efficiency.
Today, there are thousands of brands that have used machine learning to provide better customer experiences. Marketers and advertisers have realized the potential of big data and machine learning algorithms as a tool for improving their campaigns’ effectiveness. Though some brands remain uncertain about the impact of artificial intelligence in the immediate future, the possibilities have started to fuel exploration and investments in several new ventures with the digital advertising industry. However, the technological and talent pool shortage has slowed down the progression beyond its current exploration phase.
AI: Automated content creation
Several companies are using natural language generation or NLG to tell their data-driven stories faster than normal human beings. Natural language generation uses human-designed algorithms to parse data as well as to convert it into readable copies. For instance, some e-commerce firms are using artificial intelligence to come up with product descriptions. Real estate agencies are also using AI to create property listings. That means these companies don’t have to struggle with writers that compromise the quality of their content. That’s because AI enables them to create automated, high quality content. Additionally, this technology is more cost-effective and it can be used by in-house advertisers and marketers to write descriptions instead of hiring freelancers.
Basically, NLG enables advertisers or marketers to use their data to automatically create content. This enables them to write many stories within minutes and use them to attract exponential traffic and generate more leads and increase sales for fewer or same resources.
Improved customer experience
Global spending on cognitive systems is expected to hit $31.3 billion by 2019. In fact, some experts say that artificial intelligence might double the rates of economic growth by 2035 while boosting labor productivity by up to 40%. Although there is the lure of the cost-savings that artificial intelligence brings to businesses, the major goal for advertisers and marketers is to ensure that their brand experience is more predictive and personalized. Perhaps, that’s because redesigning a digital experience or making over a site or an app is one thing and adding cognitive computing and thinking power into the embedded experiences is another.
Mona Lisa is DaVinci IITM’s public face for artificial intelligence, similar to IBM’s Watson. It is a cloud-based cognitive engine for digital marketing platform, programmed with the capacity to thinking like a human media analyst. Mona Lisa uses machine learning and natural language processing to enable brands to have one-to-one, relevant consumer to brand experiences. The data harnessed and utilized is on the basis of product and new consumer insights.
For the past several years, adtech has been battling ad fraud ranging from: incorrect counting, ad viewability, discrepancies, just to name but a few venues. In EU, we have pending GDPR deadline fast approaching on top of that, to ensure brand ads are placed on safe sites. While AI will no doubt help with this, there are innovations that DaVinci IITM has been working on. Aside from the upcoming announcements from the DaVinci IITM Labs team, my team has been working on the blockchain as a venue to bring transparency to the digital marketing platform.
While some countries are still light years behind in the blockchain discovery, one study states, 14% of financial market institutions intend to implement full-scale, commercial blockchain-based services by this year, while adoption of 65% to follow by 2020. It is reassuring to see the FDA and IBM’s Watson Health explore not just the financial sectors for blockchains, but also within the health-care to construct an audit trail of all transactions on an unaltered distributed ledger for the patient data exchange. This will further ensure the accountability and transparency in finance & healthcare.
All in all, the upcoming innovations of Blockchain, AI, and machine automations will continue to influence how we live, communicate, and shop. These influences, therefore, are indispensable and an unavoidable part of the digital advertising’s future. As such, we at the helm of this industry have exciting opportunity ahead of us.davinci11