Artificial intelligence (AI) is nothing new to those who work in marketing. After all, it has played a central role in powering social media and search engine algorithms for years. Nonetheless, even those well-aware of this might be surprised by just how potent a marketing force AI is set to become in the very near future. Below are three important ways this technology is poised to transform the way businesses of all kinds market their products.
The Business to Robot to Consumer (B2R2C) Model
One of the hottest growing applications of AI is B2R2C technology, which capitalizes on the constellation of devices with which we interact on a daily basis. The proliferation of virtual assistants, digital avatars, and even robots gives companies insight not just into consumers’ preferences, but into their specific wants and needs. An example is the AI Foundation’s AI chef.
Seeing an opportunity in the cooking boom driven by the recent pandemic, the AI Foundation set to work on developing a virtual kitchen aid “who’s familiar with what is in your kitchen, pantry and even knows what is on your mind for dinner!” However unsettling this may sound, the Foundation insists that it aims to develop responsible technology controlled by individuals (not corporations) and which shares users’ values.
Applications of B2R2C technology to estate planning and elder law are not hard to imagine. An AI-driven personal assistant familiar with your personal life and medical history would be invaluable in ensuring your estate plan remains up-to-date and reflective of your goals. Likewise, such technology could be instrumental in allowing aging adults greater independence and thus wider-ranging long-term care options.
While such premonitions might sound like science fiction, progress in AI technology proves that, on the contrary, they are right around the corner.
Another important AI-powered advance already having a seismic impact on marketing is synthetic media. This technology is most well-known for its application in producing deepfake videos but that is far from the only way it is being used. By exploiting synthetic video, companies can now shoot a single commercial and then adapt it to different brands or items, thereby allowing them to reach all of their target markets at a fraction of the cost. Synthesia’s recreation of Just Eat’s Snoop Dogg commercial for Australian subsidiary MenuLog serves as an example.
When synthetic video is combined with the ability to create digital people at scale, as AI company Soul Machines has done, the potential applications for estate planning attorneys (and many others) seem endless. Imagine being able to connect every client with a personal, emotionally-engaging experience catered to their specific profile? All of a sudden, convincing young adults of the need to draft a will and advance directives does not seem so challenging nor does walking clients of all backgrounds through the crucial importance of long-term care planning.
A simpler example of how AI is set to transform the way legal firms conduct marketing concerns its applications to email. By drawing on the technology’s ability to predict consumer behavior and needs, AI allows you to send personalized emails triggered by specific actions that have a far greater likelihood of landing authentically. Subject lines, content, and product recommendations can all be programmed to align with clients’ genuine interests, thereby maximizing results.
Ultimately, AI does what any good marketing technology aspires to do: reach the right customers at the right time. The difference is that it has the potential to do so both far better and at a fraction of the cost of current marketing strategies.
To learn more about how AI is set to revolutionize the world of marketing and how you can catch the wave, give us a call at (720) 990-9673 or reach out via the contact form on our website.