AI and the Services Revolution: The impact of AI and Data on Digital Marketing
21st October 2019, 9:15 am
Unprecedented volumes of data and advances in Artificial Intelligence are transforming the marketing services industry, according to a report released today by leading technology advisory and investment firm GP Bullhound.
AI and the Services Revolution reveals that investments in marketing-related AI have grown steadily, with $2.5bn of investments in emerging companies in 2018 – and $1 billion invested in Q2 2019 alone. A total of $11bn has been invested in the sector since 2014.
Oliver Schweitzer, Executive Director at GP Bullhound, commented: “AI is being increasingly integrated into digital services and marketing processes to connect vast amounts of disparate data, uncover patterns and make predictions. However, human intelligence and intuition will remain critical to interpret its findings and implement strategic and creative plans accordingly.”
Founder of S4 Capital Sir Martin Sorrell added: “Having data first and foremost improves the output, but it doesn’t replace output. Access to vast amounts of data will therefore make our job more effective, not less effective. The traditional argument, that data destroys creativity, is nonsense – AI will aid creativity. Better input in the form of data leads to better output.”
Three major themes within marketing AI are considered: hyperpersonalisation, branding and B2B. The report also includes views from companies at the forefront of marketing AI, such as MiQ, Emarsys and RAIN, digital marketing groups, such as S4 Capital and Tinuiti, as well as other entrepreneurs, investors and academics.
The full report is available for download here.