Artificial Intelligence is a boon for the marketing student
Artificial Intelligence is a boon for the marketing students in many ways, and to understand this holistically we firstly need to understand the word, ‘Artificial intelligence’ and then it will be easier to understand how this is helpful in marketing.
- What is Artificial Intelligence?
Artificial intelligence is the advanced version of the information and technological work, that got started a couple of decades earlier. It is a step ahead of moving from algorithm to forming the logarithm, from random and haphazard data to the organized data, from unstructured data to the structured data. Till now the IT has changed our life by many extents, it has made our life fast paced. IT has completely ingrained in our life, and we are using it in every walk of life like travelling, shopping, eating, education, chatting, and everything. Whenever we use IT or the internet for our work, it leaves a track record of huge but haphazard data, which is of no use if unstructured. AI is forming some patterns out of those haphazard data and using it to earn the profit.
When we give some insights and use our mind to use the randomly stored data and form some proper pattern out of it, then it becomes substantially highly useful. Ex. How Amazon knows even before your order what you were about to order, it’s because of AI and data science.
So Artificial intelligence is nothing but forming some pattern out of ill-pattern data. We use algorithm to get data and form logarithm to make some patterns of the data.
- How this Artificial intelligence is beneficial to marketing?
1) Now the market is transforming towards the data driven analysis which makes the selling of products with ease.
2) Gone are the days when business was profit centric, now it has taken the shape of consumer centric. Marketing agencies are doing everything to pamper their customers. And in this artificial intelligence plays a very prominent role to know the taste of customers beforehand, and this increases the profit of the business, which is and was the prime goal.
3) AI increases the profit of the industry, and it is even helpful in reducing the inventories cost by knowing the demand of customers in advance.
4) AI helps in making a personalized customer experience, and as a marketing expert managers try to tempt the customers with the products which they already like.
5) Marketers use the data with artificial intelligence and enable themselves to know what the customers are thinking and desiring. This helps to correct and modify regularly the branding strategies and plans to read the mind of customers.
- How to become a marketing manager and how to use artificial intelligence for the marketing students in their work?
If one has a dream to become a marketing manager in the big multinational companies then the best way is to pursue an AICTE approved PGDM program in marketing. This program will give a job in the marketing field. And as we have discussed earlier that the tactics of marketing are changing now from manual to automated, from profit centric to consumer centric. So now “Artificial intelligence is a boon for marketing students” and the marketing students should even know digital marketing basics apart from just marketing skills.
Artificial intelligence is definitely helpful but only to a learned person. For a manager to make profits, to get the desired result, and to make the business productive, artificial intelligence could be a panacea to him. So firstly become a learned person by pursuing the PGDM program and then take advantage of artificial intelligence.