Artificial Intelligence: The dominance of artificial intelligence (AI) – at the heart of global business and industry in the future. Just a couple years ago, Gartner analysts predicted that by 2020, AI technologies would be pervasive in almost every new software product and service – a prediction that Harvard Business Review seconded earlier in 2019.
“Artificial intelligence is the biggest commercial opportunity for companies, industries, and nations over the next few decades” and “will increase global GDP by up to 14% between now and 2030,” which means that “AI latecomers will find themselves at a serious competitive disadvantage within the next several years.”
AI can analyse consumer behavior and search patterns, and use data from social media platforms and blog posts to help businesses understand how customers find their products and services. AI will soon be the driving force behind many services and, currently, we already see it implemented in such areas as:
- Basic communication
- Product recommendations
- Content creation
- Email personalisation
- E-commerce transactions
Chatbots will continue to be an important part of digital marketing in 2020. This AI-based technology uses instant messaging to chat in real-time, day or night, with your customers or site visitors.
Surveys show that:
- Chatbots will power 85% of customer service by 2020
- Top benefits of chatbots are 24-hour service (64%), instant responses to inquiries (55%), and answers to simple questions (55%)
- 63% of respondents prefer messaging an online chatbot to communicate with a business or brand
- By 2022, chatbots will help businesses save over $8 billion per annum
- 80% of businesses want chatbots by 2020:
Many customers prefer interacting with chatbots as they are responsive 24/7, give answers promptly, accurately recall your entire buying history, and never lose patience. These virtual assistants offer outstanding customer service by meeting customers’ expectations and automating repetitive tasks – which means that you can focus on more important work.
Gartner projects that 30% of businesses will incorporate artificial intelligence (AI) in their sales processes in 2020. In fairness, we should expect more, especially when you consider the amazing benefits of AI and automation for sales and marketing:
For example, you can use artificial intelligence and automation to:
- Improve Customer Retention and Loyalty
- Predict the Behavior of Your Customer with Propensity Modeling and Predictive Analytics
- Use AI-Powered Chatbots to Improve User Experience
- Leverage the Power of Audience Insights to Boost Search Ads
- Scale Up Your Content Marketing with AI-Generated Content
- Deliver a Highly Personalized Website Experience to Every User
- Optimize for Voice Search Queries
- Identify “Hot Leads”
- Reduce Cart Abandonment
- Target Customers Across Different Channels
- Boost Customer Lifetime Value (CLV)
- Upsell and Cross Sell to Customers
- Improve Blogger Outreach
- Generate Leads from Thank You Pages
- Automatically Suggest Content to Visitors
- Identify Bottlenecks in Your Sales Pipeline
- Measure the Performance of Your Marketing Campaigns
- Maintain a Central Hub for all Your Marketing Activities
- Cut Costs and Save Time