Artificial intelligence (AI) is a hot topic in commerce marketing and may be the fastest growing technology trend today. Experts believe AI will have a huge impact on our daily lives, our interactions with one another and the broader economy.
» According to Accenture and Frontier Economics, AI has the potential to double annual economic growth by 2035 in 12 developed economies that, together, generate more than 50% of the world’s economic output.
» Google Alphabet’s Director of Engineering Ray Kurzweil predicts machines will be smarter than humans by the year 2029.
» In its report Predicts 2017: Marketers, Expect the Unexpected, Gartner research estimates that AI bots will power 85% of customer service interactions by 2020.
A growing number of commerce marketing software providers claim their systems use AI. But it can be difficult to know for sure what that means for your brand and how you can use it to market products and services more effectively to consumers. Does the rise of AI and related technologies signal a sea change in commerce marketing?
In a word, yes.
