Rising adoption of customer-centric marketing strategies and increasing use of social media platforms for advertising are among the factors boosting the artificial intelligence in marketing market growth. However, scarcity of personnel well-versed with AI knowledge hinders the market growth. Further, surge in the adoption of cloud-based applications and services creates notable opportunities for the artificial intelligence in marketing market players.
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The key artificial intelligence in marketing market players—such as IBM, Amazon Web Services, Salesforce, Adobe, and Accenture—have been adopting several organic and inorganic strategies to enhance their revenue and market standings. For instance, in January 2021, Appier launched ARTIFICIAL INTELLIGENCEXPERT, an ARTIFICIAL INTELLIGENCE-powered app-based advertising assistant that helps marketers to easily scale their performance of sales campaigns through campArtificial Intelligencegns. Through its apps, ARTIFICIAL INTELLIGENCEXPERT enables the automation of budget allocation across major advertising platforms such as Facebook, Google, and Apple Search Ads (ASA) as well as assists in making better decisions with ARTIFICIAL INTELLIGENCE-based suggestions.
The COVID-19 outbreak has been affecting every business globally since December 2019. The continuous and vigorous growth in the number of infected patients has led governments to put a bar on transportation of humans and goods. However, a rise in the adoption of private 5G and LTE networks is expected amid the pandemic. Data consumption is expected to grow with social distancing norms in effect in the B2C and other consumer operations. Also, the enterprises have started shifting to digital models and virtual operations, which has further boosted the rate of data consumption, thus creating demand for the establishment of connectivity-centric ecosystems.
Cloud computing is lowering the entry barriers for smaller companies seeking to gain profits from compute-intensive business analytics, which was earlier considered as feasible option for large corporations only. Smaller companies are increasingly gaining access to AI. These cloud-based AI solutions effectively allow and escalate the adoption of AI. Cloud-based applications and services can provide users with immediate access to hardware services with no upfront capital investments, resulting in a faster time to market in many industries. Hence, the cloud has become an adaptable infrastructure that can be shared by different end users that may use it in different ways. Overall, the cloud-based applications and services lowered costs, defined services, and reduced risks, along with providing easy access to the latest technologies. Google Cloud Machine Learning Platform, Google Cloud Vision API, Lex – the technology behind Amazon Alexa, Microsoft Azure, and IBM Bluemix are among the common examples of cloud-based AI services. The most valuable aspect of these services is they enable ready-to-use platforms for improving existing products and processes. Thus, the growth in adoption of cloud-based applications and services is serving as an opportunity for the artificial intelligence in marketing market players.
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