In the digital era that we are living in, all forms of business and
industries have ventured into digital media, helping them to collect data
from numerous sources and cataloging this data for formulating their
marketing and advertising campaigns. This invasion in the digital world
backed by the introduction of Artificial Intelligence (AI) has transformed
the face of businesses all across the world. In industries ranging from
automobiles to medical or BFSI, AI has made its way in! Artificial
Intelligence (AI) is the science of infusing human-like intelligence into
the machines and making them smart so that they can take their own wise
decisions. Machine Learning (ML) is the ability of these programs to learn
from the past data so that they can handle similar or more complex
situations in future.
Programmatic advertising is another influential part of the digital
advertising industry, and the amalgamation of Programmatic with AI and ML
has brought about a transformation in the entire advertising industry. With
the audiences’ omnipresence, data scientist are employed to track and
analyze the collected data, and give advertisers a perspective on the
current market trends.
AI and ML come in the picture as they are wired to collect all the data and
dig into it to find plausible links in the user’s behaviour patterns which
will then help in providing right product communication to the right
audience at the right time. Thus, bridging the gap between the brands and
the target audiences. AI & ML are also empowered enough to make their
own decisions like, which consumers are more likely to convert or which
platform guarantees more yield and increased conversion rates.
All these data collection results in a more personalized experience for the
customers, which helps marketers achieve better KPIs. Experience-based Data
Management Platforms (eDMPs) help in achieving these goals. A research by
Forrester indicates that customers having a high-quality experience with a
brand are 3.6x more likely to make additional purchases and are 2.7x more
likely to be retained by that brand.
The AI and ML technologies hold quite a promising future for the
programmatic advertising industry. Advertisers may soon wake up to the day
when they only have to provide inputs on parameters like the campaign
budget, the product information and set the KPIs, while AI and ML will
efficiently manage the aspects of the campaign to deliver the best results.
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