It is not yet fully understood what efficiency and effectiveness artificial intelligence can bring. Those who solve it will lead the marketing world of tomorrow. Accenture Song's Amir Malik explains.
A lot has changed in a relatively short period of time since the initial demo of ChatGPT was released in November 2022. In the months since then, gen AI, the next generation of AI that includes ChatGPT, has established itself in the marketing industry. Both major and unprecedented accelerators.
Unlike other innovative technologies such as blockchain, over the past 16 months a wide range of brand owners, agencies and consultancies have been unlocking the power of generational AI and experimenting across their businesses. From the early means used to generate images and text, it is now used to scale up and personalize multiple variations of content, quickly test it within the requirements of a client's needs, It can be modified and distributed.
As a by-product, this impact on efficiency and effectiveness is raising questions about the organizational form and operating model that is currently needed across brand owner organizations, agencies, and platforms.
Whether you want it or not, [editor’s note: yes, we are all tired of hearing about it… but]Now, no one can ignore the impact of generational AI in accelerating production, producing creative, managing campaigns, or saving time and costs across the value chain.
Whether its prevalence and use is about efficiency or effectiveness is redundant, but the answer is…both.
And it's not one way or the other when it comes to how quickly marketers can rely on generative AI to manage marketing effectiveness. That's because human intervention plays a key role in adding meaning, and meaning makes the deployment of generative AI effective.
As a result, these are exciting times. For example, marketing efficiency organization Effie has introduced a new AI category in its awards to recognize the use of AI technology in improving marketing effectiveness. All participants will be asked if and how AI was used in the campaign. The answer will help you understand the relationship between AI and effectiveness. Gen AI, on the other hand, can generate more computational market propositions, creative experiences, and content in all areas of measuring marketing effectiveness than humans can currently do alone.
You can generate more growth with lower costs and higher production. Measure success, avoid errors, and reduce the time and effort of processing thousands of reports.
And it becomes a utility in marketing that unravels the mysteries of what customers are responding to, testing campaign effectiveness faster than ever before and then providing a blueprint for improving them.
However, despite their ambitions, many organizations are blinded by the headlights of threats that are approaching at an extremely fast pace. This results in knowledge gaps in preparation.
These gaps include a lack of internal skills to navigate the rapidly emerging generative AI ecosystem of tools and partners, and a lack of knowledge of the basics of generative AI among the general workforce. These include a lack of understanding regarding governance, and uncertainty around governance.
Additionally, limited foresight can cause vision documents to become outdated quickly after they are created. To combat this, the marketers in the best position to do so have undertaken a variety of initiatives, including:
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Deploying generative AI with direction – This means deploying AI to see where it leads, rather than pushing it to achieve a predetermined end product . This is essential because we are just getting started.
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Build knowledge within your organization by educating downstream talent, equipping them with the fundamentals of artificial intelligence, building knowledge on how to use some of the tools, and incorporating all of this into your overarching business strategy. Masu.
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Create and test use cases. A strong example is PepsiCo brand Ray's Messi Message, a video experience (available in eight languages) that allows fans to send a personalized video of Lionel Messi addressing a friend by their name. His AI chatbot for Volvo on WhatsApp for new electric car owners is another.
In conjunction with large-scale language model (LLM) deep learning algorithms as well as Gen AI, the best way to quantify the impact of AI on efficiency and effectiveness is still under development.
The ultimate promise of AI has two interlocking aspects: the utility of giving brand owners the freedom to unleash their imaginations, and the utility of allowing them to best leverage that freedom to achieve their business goals.
Amir Malik is Managing Director of Accenture Song and a member of the Effie UK Council.
