In 2021, the market for artificial intelligence (AI) in marketing was estimated at billion U.S. dollars. The source projected that the value would increase to more than billion by 2028.
What is AI and who uses it?
Artificial intelligence (AI) has become one of the most impactful digital innovations of the past few decades. The term refers to the ability of a computer or machine to mimic the competencies of the human mind, with the current ecosystem consisting of machine learning, robotics, artificial neural networks, and natural language processing. All of these features and algorithms are highly versatile and adaptable to the specific requirements of the user, explaining why they have become embedded into many different industries, ranging from telecommunications and financial services to healthcare and pharma. Overall, the global artificial intelligence market was valued at around billion U.S. dollars in 2021.
AI at the marketing wheel
AI is deeply embedded into the digital marketing landscape, and based on the latest reports, more than percent of industry experts integrate some form of AI technology into their online marketing activities. This vast adaptation of artificial intelligence for marketing purposes is no surprise considering that its benefits include task automation, campaign personalization, and data analysis, to name but a few. When asked about marketers' main application areas of AI in a recent survey, roughly percent of respondents from the U.S., Canada, the UK, and India mentioned ad targeting. Other popular activities they trusted AI with included personalizing content, optimizing e-mail send times, and calculating conversion probability.