At one time, artificial intelligence, data-driven marketing and voice search engine optimization (VSEO) were ambitious concepts bordering on the ridiculous. Today, these innovative trends are among the top priorities for most business owners in 2020.
And why wouldn’t they be? After all, if your business has any intention of remaining competitive in today’s online landscape, you must adapt to the rapidly evolving changes in digital marketing:
Read on to discover how more than 60% Companies will adopt Artificial Intelligence in 2020. It will help your business not just survive, but thrive in this age of innovation.
Artificial Intelligence Innovations
If you haven’t already realized it, 2020 may be the year that a lot of people wake up to the dominance of artificial intelligence (AI). It’s sure to be at the heart of global business and industry in the future – and it’s already taking over many simple jobs.
For example, Microsoft and Uber use Knightscope K5 robots to “patrol parking lots and large outdoor areas to predict and prevent crime. The robots can read license plates, report suspicious activity, and collect data to report to their owners.” You can rent these R2-D2-like robots for $7 an hour – which is less expensive than a human security guard’s wage:
Predictions about AI
Just a couple years ago, Gartner analysts predicted that by 2020, AI technologies would be pervasive in almost every new software product and service – a prediction that Harvard Business Review seconded earlier in 2019.
According to Techgrabyte:
“Artificial intelligence is the biggest commercial opportunity for companies, industries, and nations over the next few decades” and “will increase global GDP by up to 14% between now and 2030,” which means that “AI latecomers will find themselves at a serious competitive disadvantage within the next several years.”
Here are the top reasons why adopting AI?
Percentage of respondents who somewhat or strongly agree with each statement
AI can analyze consumer behavior and search patterns, and use data from social media platforms and blog posts to help businesses understand how customers find their products and services.
One exciting example of AI in practice is chat bots (more on that later). MasterCard created a Facebook messenger bot – which uses natural language processing software to decipher what the customer wants and respond as if it were a real person – to automate handling payments:
Artificial intelligence will soon be the driving force behind many services and, currently, we already see it implemented in such areas as:
- Basic communication
- Product recommendations
- Content creation
- Email personalization
- E-commerce transactions
Where is Artificial Intelligence right now?
- Two out of three people are already using AI, without even knowing they are interacting with chat bot.
- By the year 2020, 60% of companies will be using artificial intelligence for driving digital revenue.
- AI will grow into a $190B industry by 2025.
- 97% of mobile users are already using AI-Powered voice assistant.
- 71% B2B Marketers are interested in using AI for personalization.
Businesses adopting AI in 2020 will be able to cut staffing costs and accelerate growth, getting an edge over their competitors.