AI, over the last decade, has transformed the marketing technology. From automating the setup of campaigns to finding intelligent solutions for every stage of sales, AI is seeking new avenues for technology.
Advertising Technology (AdTech) has moved one step toward digital transformation with the digital advertising outstripping TV. The development of advertising on social media and search and display advertising means that we have more data in hand regarding performance on the scale of advertising. Advertising management or allocation has become an imperative process leading to business leaders looking for new technology that can reduce the revenue loss and automate the advertising process. Some of the top technology businesses using AI technology for advertising are Criteo, AppNexus, Index Exchange, OpenX, The Trade Desk, and every year, many more are added.
AI tech in advertising is considered as the foremost technology behind the rising consumer influencing ads. AI implemented in Adtech creates better decision making and revenue adjustments, giving insights about different consumer actions and providing paths on how to influence them. In 2020, we would see an exponential rise in AI data implementation with some of the below technologies,
1. Internet of Things (IoT)
The Internet of Things (IoT) is now in both B2B and B2C markets. As the market becomes more matured about the technology of the device, advertising-based business models will be funding free or low-priced smart objects. For example, a smart home will intelligently work according to the season so that the users will be getting advertisements regarding the most healthy fruits for a given season available at a local vendor.
2. Augmented Reality (AR)
Glass wear technology may be making a bigger comeback, with a renewed vision on AR. As the technology moves forward, the current AR and VR will be merged with eXtended Reality (XR), which is a simpler version that can run without any hardware using just applications. Adtech can massively affect this space with technology, easing the reach and range for various market products. Combining AI and AR technology, organizations can provide the latest product offerings to users. Snapchat is one social media site where brands and AR will be coming together to entice consumers.
Promising more on data
Data will be gaining more traction in 2020 because data will be the most essential commodity for better AI targeting, which will majorly influence media buying. New data is available every day, and with every consumer interaction, online businesses now have various opportunities to influence the vendors. Several mobile vendors are using user information from various interactions by installing applications on mobile phones.
The new insights from data can open new avenues for revenue generation; it lures the users with better user experience. Facebook’s FBLearner Flow assists the social media site in filtering out offensive posts, while Uber’s Michelangelo gives users time predictions for the different types of food delivery. To keep pace with the rising competition from different platforms, eBay has unveiled an AI platform, Krylov, which provides a wide range of capabilities with new language translation services to searching with new images.
Conclusion
Advertising combined with AI technology is creating a drastic change in the way businesses function and spend their revenue. With more data and AI combined, every company now has a chance to influence consumers’ decisions about a given product/service. Recently, we have seen the negative impact of AdTech influencing the decisions of the common people to change the results of an election and change their opinion about a political topic. To know more about AI technology, download our latest whitepapers on Artificial Intelligence.