Definition
Generative artificial intelligence (AI) is the technique of designing AI that mimics human imagination and creativity. Unlike other fields of AI’s focus on predictions and automation, generative AI enables machines to produce creative content, including text, images, and videos that mimic and go beyond human imagination. The application of generative AI in marketing means that businesses can produce unique and compelling content on a large scale. This technology can help create innovative product designs, brand identities, and marketing campaigns that capture the interest of their target audience.
Generative AI has also helped to improve audience engagement through personalized marketing campaigns. Personalization is a critical strategy in today’s marketing world as it helps to connect with customers on a more emotional level. With the application of Generative AI, businesses can create unique and personalized content that appeals to their target audience, resulting in a higher conversion rate.
Generative AI also has significant implications for e-commerce, specifically in product recommendations. By analyzing customer data, generative AI can provide personalized and relevant recommendations to customers based on their previous purchases. This technology can help to increase sales, improve customer engagement and loyalty, and reduce cart abandonment rates. A practical example is Amazon’s AI-powered product recommendation system which recommends relevant products based on customers’ previous search and purchase history.
Generative AI is an innovative technology with the potential to impact marketing in many ways. The ability to produce creative content, improve audience engagement, create personalized marketing materials, and provide relevant product recommendations will mean substantial competitive advantages for early adopters. Understanding the basic principles of generative AI is essential for businesses looking to stay ahead of the competition in the future.
Related
- Artificial intelligence (AI)
- Data Science
- Citizen Data Scientist
- Data Science for Marketers
- (4) Principles of Explainable AI
Resources
Articles
- The recent growth of artificial intelligence
- Generative AI: Effective Usage and Governance
- Machine learning improves decision-making
- How to prioritize impactful use cases for AI implementation
- Artificial intelligence relies on good data as its foundation
- Using Generataive AI to create high-performing visual content
- The Undeniable Business Case for Using Generative AI
News
Book: The Agile Brand Guide to AI & Marketing (2023) by Greg Kihlström
Products Related to Generative AI
See more in our product directory.
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Arthur Bench
Arthur Bench allows organizations to evaluate LLMs, prompts, and hyperparameters for generative text models. It is an open source tool that enables businesses to make informed decisions about how large language models (LLMs) will perform in real-world scenarios.
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Descript Overdub
Descript’s Overdub lets you create a text-to-speech model of your voice or select one from our ultra-realistic stock voices.
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AIVA
Generative AI that composes music for movies, commercials, games and tv shows.
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Hugging Face
Hugging Face develops tools for building applications using machine learning. It is most notable for its transformers library built for natural language processing applications and its platform that allows users to share machine learning models and datasets.
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Tabnine
Tabnine provides generative AI features for writing code, including autocomplete that adapts to existing codebase, with privacy and security features.
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Runway Gen-2
Runway Gen-2 allows the creation of videos using text prompts and includes the ability to edit, adjust, and collaborate in real-time in the cloud.