by David Kosmayer, CEO and Founder of Bookmark
Artificial Intelligence (AI) has been around for a long time but it’s only in recent years that people have begun to understand how pervasive it’s become. What’s more, most of us who are always digitally connected will find that we’ve become increasingly reliant on AI without even realizing it.
What is artificial intelligence?
As opposed to the natural intelligence of humans, artificial intelligence is the ability of a machine to imitate the cognitive processes of human beings. You can see it everywhere from Facebook’s suggestions on which people to tag in your photos to Siri who can call someone or find a restaurant for you.
AI may have limitless potential to improve any industry but not everyone agrees on what the future will be like as AI gets even more advanced. Whether machines will help humans become the best versions of ourselves or rise up and take over the world remains to be seen.
One thing is for sure, however. Artificial intelligence is here to stay and you need to embrace AI if you want your startup to move forward and be the success you envision it to be.
How AI is disrupting advertising.
For most owners of startup companies, going through countless of details and formulating strategies to increase brand awareness can be overwhelming.
The good news is, digital advertising doesn’t have to be so intimidating anymore, thanks to artificial intelligence. Many of the AI systems that are currently available can collect, analyze, and make sense of consumer information to create advertisements that will appeal to your target market.
In fact, experts believe that one of the biggest ways AI will impact marketing this year is the creation of better ads. If you already have an existing campaign that you haven’t implemented yet, AI can even tell you its likelihood of success. This predictive quality will not only help you craft a targeted campaign but will also save you time and money.
How AI is disrupting website building.
Unless you have the expertise and experience, designing a website can be a challenging process. In the past, the other alternatives to website creation were getting someone else to do it for you and buying a template that someone else has already built.
Today, however, individual users and startups have another option, and that is having AI create your website for you. Bookmark Website Builder, for example, has the Artificial Intelligence Design Assistant (AiDA) that does just that. You sign up, put in your website name, choose your industry, and then let AI design your website in just a few minutes.
Is it really that simple? Yes, it actually is.
How AI is disrupting customer service.
One of the innovations in AI is machine learning, which is the ability of an artificial intelligence system to learn from processing large amounts of data. This is the concept behind product suggestions when you browse through Amazon, eBay, and similar platforms. The same is true when you see YouTube video recommendations.
As a result, AI helps deliver the best products or services to the right people. This gives prospects access to helpful information and increases conversions.
Despite AI’s potential to improve overall customer experience, is it something you should invest in as a startup? Maybe not right away.
For one, AI needs large quantities of data to learn from, which you may not have yet. While you don’t need to worry about how to use AI to enhance your customer service at first, it’s something you need to consider as your company grows, especially when you factor in the predictions of industry experts about how AI will change the future of marketing.
How AI is disrupting decision-making.
Before AI became available commercially, company executives have had to base their decisions on data that are either incomplete or inconsistent. But even if they had had access to all the pertinent information necessary to make sound business decisions, processing the data and considering all factors and scenarios would’ve still been difficult, if not impossible.
Now, the decision-making process is easier and produces more reliable results because business owners and managers can turn to AI tools that use simulations and data-based models.
So what does this all mean?
AI can produce a wide range of useful information from predicting customer behavior to analyzing a consumer’s lifetime value. Of course, you are already familiar with the recommendation system where AI learns a user’s preferences and promotes content that correspond to those preferences. Consequently, the data AI gathers from the process can be used to create better-targeted content and decrease bounce rate.
A future with AI doesn’t have to be cold and robotic. You only need to accept that AI has now become a reality and that using artificial intelligence in your business can mean the difference between failure and success.
David Kosmayer is CEO and Founder of Bookmark, a Website Builder disrupting the future of web design with Artificial Intelligence. David created his first company at 22 just coming out of college. Marketing Extensions Inc., an online affiliate and marketing agency, was born from the basement of his parent’s home. This company grew under his leadership into a 55-person team, topping $60M in revenue in less than a decade. David is highly focused, dedicated and passionate about building successful companies.