The Evolution of AI
As the use of Artificial Intelligence (AI) tools in industries increases, it’s time to start looking at whether it is worth both the time and resources to implement into your business. Whether you run an online store or construction company, the use of AI can help to accelerate your business into the modern age, and ensures that you are always one step ahead of your competitors.
In a recent survey conducted by Forbes, around 39% of UK based businesses have incorporated at least one AI technology into their workplace, the most common of which was data management and analysis. This sudden increase of AI in the workplace has created a large industry for companies to create specialized AI tools for specific industries, such as education AI’s, medical AI’s and manufacturing AI’s. The large boom in AI products means many countries with a good technology industry are benefitting massively, especially countries like the United States, which in 2022 alone had nearly 800,000 job listings for AI roles.
AI has a plethora of advantages and disadvantages, however one major advantage of AI is a reduction in costs. Although unethical, AI can replace many human-operated roles such as quality inspection, copywriting and content creation
AI Marketing Tools
In the current digital age, marketing in general is an essential part of any business looking to grow, and the use of AI tools can massively increase the simplicity of starting and operating a marketing campaign.
Marketing tools such as Google Ads, Semrush, and Google Analytics are now beginning to integrate advanced artificial intelligence into their core infrastructure. Google Ads especially is making the process of setting up advertisements extremely simple, using AI to generate the advertisements, automatically bid on advertising locations, and to use AI to determine the best locations to place the advertisements. This simplicity allows marketing agencies to push their clients ads to a larger, more relevant audience.
AI can also be used to analyze data produced by marketing campaigns with tools such as Google Analytics and Google Search Console. Both tools have built in AI to find and report on trends noticed in data that may not have been noticed by a human, such as increased user interaction or increased direct traffic. As both Google Analytics and Search Console are already widely used by agencies around the world, the AI integration for businesses was extremely simple, and only required a simple update to the platform.
Another benefit of using AI in marketing is the prediction of data. For example, an AI that has access to past data can learn patterns and trends in said data, gaining knowledge about when sales increase or decrease. With this information, a marketer can plan increases or decreases in the marketing campaign to prevent overspending on the campaign. With these technologies, AI can not only save companies money on advertising, it can save employees from working on unnecessary tasks.
Furthermore, AI’s influence is not limited to customer interaction and display advertising. In the realm of Search Engine Marketing, the use of AI technologies is already commonplace for a number of processes, from automated bidding to ad placements. PPC (Pay Per Click) advertising is one of the methods of advertising already taking full advantage of AI, as it uses an extremely advanced AI algorithm to group keywords, place bids on advertising locations, and manage spending across the whole of the google ads campaign.
By allowing humans to work alongside AI tools, the efficiency of marketing campaigns can be greatly increased. A study completed by Euronews shows that using AI can help save 1.55 hours per day per employee, or around 390 hours per year. With those extra hours, extra tasks could be completed to increase the efficiency of the campaign, or less staff members will be needed to run a campaign.
As we quickly approach 2024, the use of AI in business environments will only increase, and regardless of whether you think it’s useful or not, it will eventually become an essential tool. As seen with social media platforms like twitter and instagram upon their release, many businesses do not currently see the need to integrate AI, however that will soon change when the use of AI means the difference between success and failure.
On average, it takes two years for technology to double in power, with computer hardware being a great example of this. Every two years, the major microprocessor companies such as Intel and AMD will produce new, efficient chips with more and more power, and this same logic can be applied to AI, although at a much faster rate. Experts predict that every 6-10 months, the capabilities of AI in both businesses and civilian sectors will increase by a factor of two, a much quicker increase than many other fields of technology. If those predictions are correct, we could see AI performing extremely complex tasks, such as website development and potentially even running whole marketing campaigns, however the human aspect of said tasks will still be necessary.
Take us for an example, we have integrated artificial intelligence into our services to increase customer satisfaction and to complete tasks quicker and more accurately. This jump to a more efficient process allows us to assist customers with their requests quicker than many other agencies, and that’s what sets us apart.
Ethics and Challenges
Although the incorporation of AI into the modern workplace has many great and time saving benefits, it also has many frankly controversial disadvantages. One of the main disadvantages includes the replacement of human workers with machine learning models or artificial intelligence. A recent survey conducted by Forbes showed that over 40% of Brits who use AI are concerned that it could replace its human counterparts. In fact, it’s already doing so. In May of 2023, over 3900 job losses were linked directly to AI, a staggering 5% of all job losses that month, and that number is only rising.
AI also has another major disadvantage, the way it produces data. As shown in the snippet from ChatGPT below, when asked a question regarding the logic of towels drying, it incorrectly stated information that it believed to to correct. This could be due to multiple reasons, such as incorrect training data or the AI mistaking what was asked, however this simple mistake, if on a much larger scale in a business or manufacturing environment, could be catastrophic.