The Chartered Institute of Marketing (CIM) recently wrote an interesting article about AI in marketing, which is summarised here for the benefit of MSP owners. Here are the key points:

1. AI in Marketing: AI is transforming the world of marketing, digital experience, and advertising. Large brands like Coca-Cola are using AI to create campaigns, and companies like Meta and Google are developing automated advertising tools. According to the 2023 AI Marketing Benchmark Report, 61.4% of marketers have used AI in their marketing activities.
   
2. Potential Applications: AI can be used in creative processes, such as generating images or banners for new campaigns, and in automating mundane or time-intensive tasks. AI models can analyse data from hundreds or thousands of customers, generating insights quickly and efficiently. They can predict future customer behaviour and personalise messages in advertisements and email marketing.
   
3. Economic Impact: AI solutions may add up to $15.7 trillion (£12.7 trillion) to the global economy by 2030. However, they also come with certain risks, including potential job losses in creative industries and concerns about diversity and inclusion.
   
4. Employee Involvement: It’s important for employees to be involved in discussions about new strategies and approaches. They need to receive training to integrate new technologies into their jobs, understand the mechanics underlying AI models, and learn how to use specific tools.
   
5. Customer Perspective: 62% of customers are open to companies using AI if it improves processes and the level of service. However, AI tools need to be developed ethically and inclusively to serve the needs of all customer groups. In some cases, a ‘human touch’ may be necessary to ensure user trust.
   
6. Future Strategies: Marketing leaders should invest in training, consider the ethical implications of emerging technologies, and develop a tailored AI strategy based on their organisation’s goals. This will help make future marketing strategies more creative, customer-aligned, and give them a long-term advantage.

Note – Their article also promotes a Digital Marketing Emerging Technologies short course for a more in-depth view of the emerging technologies impacting the marketing and business landscape.