Exploring The Marketing Potential Of Predictive AI:

Find out what an impact predictive AI and machine learning can have on your marketing campaigns and your ROI.

Success in business is all about being proactive – being able to anticipate what will happen in the future, and then using this information to your advantage.

And the key to doing this? Predictive AI.

It might sound futuristic, but using predictive analytics in business is nothing new.

Just ask Henry Ford, who used data science analysis in his business as far back as the late 19th century. This same practice continued to develop in the 1960s, thanks to the growing popularity of computers.

Fast forward to 2022, when predictive AI recorded a market size of $12.49 billion, and it’s evident just how much of a global phenomenon it’s become. What’s more, it’s showing no signs of slowing down. Reports predict it will reach $38 billion by 2028.

This means that if your business isn’t using predictive analytics yet, it risks getting left behind.

What Is Predictive AI?

Before we explore the marketing potential of AI-powered predictive analytics, it’s helpful to understand what it actually is.

As the name suggests, it’s the use of artificial intelligence and machine learning to predict outcomes.

By analyzing historical data from your business using advanced algorithms, predictive AI can allow you to make more informed, data-driven decisions. It’ll also help you identify trends, forecast behavior, predict any impending challenges, and devise solutions for them too.

It’s here that AI systems and AI research can be a valuable tool for your business – analyzing complex data in minutes to help improve effectiveness and boost return on investment (ROI).

You’ll have the insights you need to move your business forward and deliver an enhanced customer experience, all through the power of AI.

Predictive AI Vs. Generative AI

So far, so good, but where do AI models like Midjourney and ChatGPT come in?

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Now you’re talking about generative AI: artificial intelligence platforms focusing on content creation rather than data prediction.

If predictive AI is about using historical data to predict patterns, trends, and behavior, then generative AI is about creation.

And that means generating realistic images, content, music, and more, all with the help of machine learning.

Both rely on artificial intelligence, but where one focuses on prediction, the other focuses on generation, as the names of these AI models suggest. The applications of each differ as well. Generative AI models are best suited to creative industries like film, writing, fashion, and art.

Predictive AI models are ideal for industries that rely on data analysis, like healthcare, finance, and marketing. Both have their place, and both are seeing an increase in usage across various fields, with an expected annual growth rate of 37.3% projected between 2023 and 2030.

And it’s this surge in popularity that makes your understanding of predictive AI so vital. Because if you’re not already leveraging its potential, you can be sure that your competitors are.

The Benefits Of Predictive AI

Before you commit to using AI technology, it’s helpful to explore its benefits a little further.

While the benefits of generative AI are obvious (saving time and money on image generation and content creation, for one), the advantages of predictive AI are more varied:

1. Future Planning

Staying ahead of the game is all about having a competitive advantage, and this is exactly what AI tools like predictive AI can give you. Using historical data to forecast trends and outcomes allows you to plan ahead and be proactive in your business approach.

2. Improved Efficiency

The better your predictive data and the more accurate your forecasting, the more you’ll be able to avoid repetitive tasks and errors, helping you streamline your business processes.

3. Faster Decision-making

In marketing, decisions are all about data. The more accurate your data, the more informed your decisions will be.

That’s the advantage of predictive AI – giving you the data you need, when you need it, to make faster, more effective decisions.

4. Pattern Identifying

Have you ever wondered how to use your own data to look for patterns in order to identify opportunities, challenges, and solutions?

Using Predictive AI Tools

So what types of predictive AI tools are out there, and what exactly can they do? Let’s take a look.

Neurons

First up, there’s Predict AI from Neurons.

What’s remarkable is that it’s built on a database of eye-tracking data gathered from more than 120,000 people worldwide and more than 100 billion data points of brain responses.

With its foundation models built on these neuroscience studies, Predict can generate creative insights data in seconds. This allows it to increase conversions and accurately predict human behavior.

Thanks to Predict’s innovative AI technology, you’ll be able to understand how and why customers respond to your brand and your ads.

By Alex Macura

Founder at Your Digital Assembly

Follow: musai.io, Ethical AI for creators: DIGITAL ETHICAL STUDIES WITH AI FOR CREATIVE INDUSTRIES: salesLatam@musai.io