The age of AI is upon us. As marketers, we must embrace it. If we do, and if we can find the opportunities to use artificial intelligence to our company’s advantage, there will be nothing but success in our future.
Those who don’t, those who fight back against the changing tide, who insist on doing things the old way, are going to quickly find themselves out of a job. They will be passed over for promotions, will lose existing responsibilities to machines and those who realize their power, and will either go down with the sinking ship that is their company or will be shown the door as their company moves into the future without them.
It’s no longer a question of IF, it’s a question of WHEN. How soon will the algorithms come for your job? Or, put in a more optimistic way, how soon will the algorithms make you better at your job?
First Mover Advantage and AI
The algorithms that will help us become better marketers will help us in a number of ways – from targeting new users to optimizing our offers and pricing. But regardless of what they will do for us, there is one thing that bonds them all. They need data to function. They need data to learn, to grow, and to succeed. That is why there is such a large first-mover advantage in AI.
Those companies with the greatest capabilities at the end of the day will be the ones that are investing in those capabilities right now. If you come late to the party, you may be permanently at a disadvantage. That is because your competitors will have better algorithms than you do, trained on more data, over a longer period of time.
When We All Have AI
When all companies in a place are using artificial intelligence to their advantage, it becomes a question of whose algorithm is best. And there are a number of factors that will come into play:
Who has the larger data set?
Whose algorithm has been around longer?
Who has trained out the initial bugs best?
These are still early days of implementation of machine learning and other technologies in the marketing space. It’s not too late to claim that first-mover advantage.
But what should you do now to set your company up for success in the future?
How to Move Your Company Forward with AI
There are a number of things you can do today that will help your company succeed in an AI-driven future:
Do your research. Find out what other companies are already doing. Talk to experts, attend conferences, and network. There is a lot to learn, and people will spend their whole lives learning the intricacies of this new science. So don’t expect to pick it all up or become an expert overnight. But you can become the go-to source for information and innovation in your organization.
Make the case. Once you have a basic understanding of how companies are going to be using these new technologies to improve their marketing, it’s time to loop in the decision makers. To get them on board, give them real-life examples. How will your company save money? Grow revenue?
Partner with early-adopters. There are a lot of big companies out there that are already making gains with these new technologies, and they are willing to collaborate if it makes good business sense. A great way to get started is to take advantage of the tools that these first-movers produce, and partner with them to expand your own capabilities.