How did the digital ecosystem change last year?
The global COVID-19 pandemic has accelerated the rate of digital transformation over the last couple of years. However, we have seen a major shift in digital strategies toward increased use of video content. While the cookieless era looks unclear, marketers have started adapting new strategies that goes beyond cookies. We will witness an increased use of artificial intelligence (AI) as it continues to power the technology behind many services including content creation, chatbots and search engines.
Which of these trends will spill into 2023 and what changes do you expect?
First-party data will lead the way for advertisers in a cookieless future. The use of AI in digital marketing will become increasingly popular and for a good reason.
What are some of the biggest challenges you foresee?
The debate around ‘human intelligence vs AI’ is one of the biggest challenges that has kept researchers on the edge for AI services in companies and start-ups. These companies may boast of accuracy over 90 per cent but humans can do better in all of these scenarios. For example, let our model predict whether the image is of a dog or a cat. The human can predict the correct output nearly every time, mopping up a stunning accuracy of above 99 per cent.
For a deep learning model to perform a similar performance would require unprecedented finetuning, hyperparameter optimisation, large dataset and a well-defined and accurate algorithm along with robust computing power, uninterrupted training on train data and testing on test data. That sounds a lot of work – and it is.
One of the ways to avoid all the hard work is by using a service provider— they can train specific deep learning models using pre-trained models. They are trained on millions of images and are fine-tuned for maximum accuracy. However, the real problem is that they continue to show errors and would struggle to reach human-level performance.
What can brands do differently to accelerate their digital strategy?
AI-driven digital marketing campaigns will provide faster and more accurate insights into customer behavior, leading to higher campaign success rates. Marketers should not only use AI for analytics but also to create content and automate processes. With social media apps heavily relying on AI to provide relevant and in-depth insights into their users’ experiences, the use of AI should be used to elevate their strategies in 2023.
