5 Examples On How Machine Learning is Changing Modern Advertising Industry
The current advertising industry continues to adopt advanced technologies. Moreover, a significant part of Artificial Intelligence (AI) called Machine Learning (ML) is on-demand in this modern advertising industry.
Know more about : How Artificial Intelligence is Transforming Business ?
ML is transforming the way industries collect, process, and analyze the data. It is offering multiple benefits to digital marketing channels. In this article, we try to capture how ML will change digital marketing.
What is Machine Learning?
ML is a major part of Artificial Intelligence. ML techniques allow systems to learn from the given data and improve from the previous experience without programming explicitly.
Applications Of Machine Learning?
Let’s have a brief talk on various applications of machine learning.
- Machine learning plays a major role in the development of virtual personal assistants
- Machine learning is used in Traffic Predictions
- ML-based video surveillance system helps to detect & track strange behavior of people
- ML is widely using in social media marketing activities
- Email spam detection: ML-based spam filtering techniques are used by email clients to make sure that the spam filters are automatically updated.
- Malware filtering tasks: To interpret the code pattern and detect for malware, the enterprises are using Machine learning-powered security programs
- Customer service Chatbots are becoming popular across online marketing platforms
- Machine learning techniques offer you product recommendations based on your previous search
- ML algorithms are used to refine your search results accurately to provide relevant data that you need
- Uses of Machine Learning in this digital age are tremendous. ML is also used to track frauds online. Hence, the businesses are more secure with ML
The above are all a few examples of machine learning applications, and perhaps, most of us not aware of that they are developed using ML.
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Why Machine Learning?
Nowadays, every business is modernizing with AI and ML. However, if data is more, the complexity to manage it securely will also be increased. For instance, a vast amount of data stored on the cloud may open up new opportunities. But, on the other side, it may pose a few severe complexities to manage such vast data. Due to not much aware of AI and ML, unfortunately, most of the companies are wasting their time and money on traditional methods.
According to the international market reports, the data which is being stored on the cloud is almost unused. The below figure depicts the primary reasons behind this scenario:
In the above picture, we can understand that a lack of intelligent tools to collect and process data is a major reason for data goes unused. This case is not only for the advertising industry, but it is also for all industries who are dependent on data.
How Machine Learning Is Used In Advertising?
ML in digital advertising is a hot topic in the marketing industry. It is changing the way how an ad technology collects more data and processes it for improving tasks.
ML technology can easily learn from given data and analyze related patterns to hit the targeted audience. Using ML algorithms, the users can analyze customer behavior patterns and segment the targeted audience, etc. Same like a human, the advanced ML technology handles more data, processes securely, and gives accurate insights and predictions.
Well, now we’ll look the five benefits of machine learning in advertising, if the data is properly used:
1. Capitalize On Valuable Insights
If you’re an expert in advertising, so you’ll run ads using the targeted data. But the problem is the way of finding the data is not right!
You may want to use and evaluate the data linked with your offer. Thus, to meet this, you might require the most prioritized data to run a successful ad campaign. But, your budget means a lot to adopt advanced advertising tools.
Due to less advertising, you may lose a few targeted audiences. For instance, if you’re promoting a video game, then probably you target young and middle-aged people. And, you’ll not consider grandparents. These types of assumptions may affect your revenue.
Here, ML plays a vital role. Machine learning models find new revenue opportunities. It limits the budget and workforce costs. Due to this reason, ML algorithms can easily process data sets at low costs and time. Machine learning technologies best useful for generating more revenue opportunities through digital ads. ML solutions provide various insights into the collected data. These insights might include audience analysis, their search patterns, and also help to frame business strategies.
2. Improve Ad Creative
Do you agree that creative ads attract more audiences?
I hope, over half of the crowd agreed on the above sentence!
Well, the target audience will respond to creative ads. And, remember that the audience will not spend much time on your ads and switch to different media’s. Call-to-action, internal links might attract your audience and grab more attention to your services.
Many people think that ML algorithms can only process quantitative data, but this is not true. Advancements in this AI application are still growing. According to the researchers, using ML can greatly impact the overall performance of the marketing campaign. Predictive analytics techniques help to make your campaign more creative.
USM meets your marketing needs. We develop AI & ML-powered mobile applications. These machine learning models analyze visual media and find creative techniques to improve sales.
3. Augment Contextual Relevance
It’s a fact that innovative ad is always the best way to generate an immense response from the targeted audience. Before this, the marketing teams have to find the right platform and the right audience at the right time. Here, ML comes into the picture.
Rather than depending only on the target audience data, ML models are used to process on-page data. They can do any task like a human.
With developments in ML, the machines are now capable enough to identify and understand the user requirements. For instance, they can categorize the user opinions/queries expressed in a text form. In addition, ML-based machines can also respond to emotions. This will be done using deep learning techniques.
Similarly, deep learning advancements allow systems to process images and videos. A combination of AI, ML, and deep learning helps advertisers bring innovations into their approaches and to do a few amazing things.
4. Target More Defined Segments
The goal of every advertiser is to segment the audience based on their search. The deep analysis of their search allows an advertiser to provide increased personalization and satisfaction.
But, if you want to provide personalized services, you require a large amount of data to start with. Then, the implementation of ML algorithms helps to transform raw data into something useful.
ML techniques help to narrow your target customers and achieve fruitful results through digital advertising.
5. Boost conversions
Advertisers always want better applications for trending technologies. So, ML-powered chatbots, image processing, and voice recognition are the best fit for improving sales. Machine learning will have a great impact on an ad campaign in the future. ML models improve ad creativity, bidding strategies, and personalization. Thus, invest in ML and remain competitive in this digital world.
Innovations In Machine Learning That You Must Know!
According to the researchers, the investments in machine learning industry to reach $58 billion by 2021. Compared to the current market demand for machine learning, this estimated investment value is very less.
Trends in machine learning are attracting every industry worldwide. Hence, the growth rate is expected to rise beyond what we estimated! Automobile, agriculture, manufacturing, and healthcare, every industry is making its new plans to invest in machine learning.
Below are the few significant machine learning trends that you must know to face 2020 technology world:
1. Merge of Artificial Intelligence and IoT
We will see many technology innovations in 2020. A combination of artificial intelligence with other emerging technologies like IoT, Blockchain and other technologies is going to increase at a rapid pace. Of course, the Internet-of-Things (IoT) will be one of the best technology that will revolutionize the industries along with AI. The machine learning models make the use of this trend to provide unbelievable tasks with high accuracy and speed.
2. Optimizing Cloud Computing
Like other technologies, a vast amount of data which is generating from various sources is increasing the demand for cloud computing technology. You know, the investments in this technology will go to reach over $200 billion in the next three years. But, to operate cloud platforms, the companies need certified cloud experts. This is a more expensive process and hampering the adoption of cloud computing technology.
However, AI and machine learning making this process cost-effective. As the cloud collects a vast quantity of data, it is easy for Machine learning to help service providers in better understanding their customer requirements. Then, the AI-based machines help to enhance the customer experience. Thus, AI & ML made the deployment of cloud-based applications affordable, especially for startups.
3. Demand for Virtual Agents is a ML trend
You might hear the term virtual agents many times. They can quickly respond to customer queries. Virtual Agents work for 24*7. These benefits are leading to increasingly adopt virtual assistants in 2020. Nowadays, for the quick expansion into the market, startups are heavily investing in digital assistants. Hence, as these are developed using AI and ML technologies, virtual agents are one of the biggest drivers for the growth of machine learning in the near term future.
4. Machine learning techniques are being used to improve Data Analysis
A massive amount of data is collected from different businesses. This data needs to be properly analyzed for making the best business decision. Here, machine learning takes over this trend. Machine learning algorithms can efficiently collect, store, and process enterprise data. With the use of Artificial intelligence capabilities, ML can make value-added patterns and projections into this data. This will drive the demand for machine learning technology in the future.
Likewise, many innovations of Machine learning are leading to a broad expansion of this technology in the market. Grab immense profits from USM’s AI & machine learning services and solutions that build your brand in the market.
The Future of Machine Learning
Machine Learning will be a modest benefit to every industry. The works done by humans today will be done by machines in the future. Hence, Machine Learning will a game-changer of the future of industries. Be ready to watch it![/vc_column_text][/vc_column][/vc_row]