What is AI in Marketing?
What is AI?
It’s very interesting and also because AI has been around for a long time. In here, this is me, and this is a book that I have published. This book is now over 20 years old to-date. It’s in German, but let me translate it. You can imagine neural networks in marketing management and the applications described in this book are basically the same, as what you know today, because the main application is to predict and the prediction is basically used to automate processes.
So, if you can predict which person will respond to your targeting therefore, you can basically adjust your happening, or if a Google car can predict that there will be an obstacle when a person jumps on the street therefore, it can then push the brakes. So simply, AI is used for 99% in a black box way that it basically predicts things and we can automate certain decisions.
So that’s what AI is doing. Nothing magical. It’s simply learning the unknown. Basically, the formulas. Unknown deterministic relationship between input and output from data and that’s what it does. secure our future.