As the CEO of The Marketing AI Institute, Paul Roetzer is at the forefront of businesses' use of artificial intelligence (AI). While there is a lot of talk and speculation about the long-term impact of AI, we wanted to get his insights on what we can expect in the coming year. Roetzer also shared some concerns about the potential blindspots when it comes to the impact of AI on businesses and society.
Q: Where are we in terms of using AI in marketing?
A: We are still in the experimental phase. While there are some case studies showing efficiency gains and impact on SEO, our research shows that most companies are still trying to figure out how to use AI. Additionally, heavily regulated industries may not be able to fully utilize AI yet.
However, this year we will likely see more companies incorporating AI into their strategies and seeing its impact on marketing teams, technology, and overall strategies. Many enterprise marketers are still building their strategies the same way they did last year, showing that we are still in the early stages of adoption.
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Q: What is needed for AI to be a useful tool for marketers?
A: Literacy. It is essential for everyone in the marketing department to have a deep understanding of what AI is capable of and how it can be applied to their specific use cases. This may require formal training programs, but individuals can also seek out reliable sources to learn from. It is crucial to find a few trusted sources that can help cut through the noise and focus on the practical applications of AI in their specific career paths.
Q: Do marketers need to learn how to use natural language when working with AI?
A: Yes, while AI can understand natural language, marketers still need to learn how to effectively use it. This may require finding reliable sources for training and focusing on specific areas such as social media, SEO, or email marketing.
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Q: Should marketers try to become experts in AI?
A: It is unrealistic for most marketers to become experts in AI. Instead, they should focus on their specific areas of expertise and find ways to use AI to increase efficiency and productivity. Trying to become an expert in AI overnight is not feasible, but utilizing it in their specific roles can make them more valuable as professionals.
Q: How will AI impact technology?
A: AI will likely make many current software solutions obsolete, creating redundancies in technology. This will be a challenge for martech companies to keep up and remain relevant.
Q: What are the potential ripple effects of AI?
A: In the United States, there are approximately 136 million full-time jobs, and about 100 million of them are knowledge workers. It is estimated that within two years, 80% of these jobs will be assisted by AI. This will have a significant impact on the workforce, and there may be millions of jobs lost in the next two years.
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While new jobs and opportunities will be created, it may take time for them to offset the negative effects of job loss. In the short term, companies are not prepared for this shift, with no change management plans or AI roadmaps to understand and project the impact on their teams.
Q: How can companies prepare for the impact of AI?
A: Companies must develop change management plans and AI roadmaps to understand and prepare for the potential impact on their teams. It is essential to stay informed and seek out reliable sources to learn about AI and its practical applications for specific industries.
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Originally reported by Martech: https://martech.org/paul-roetzer-looking-forward-with-ai/
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