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Tech Talk: Top AI updates for marketers in August 2024

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2nd August 2024

A Glowing purple brain against a dark black background with a neon purple glow in the shape of a computer

Welcome to the latest instalment of our AI series, where we uncover the groundbreaking trends and tools reshaping the marketing landscape. Today, we explore the immense potential of multimodal AI in transforming marketing strategies and enhancing customer engagement.

Multimodal AI: The next frontier in marketing technology

In the rapidly evolving world of marketing technology, a new player is set to revolutionise how brands interact with consumers: multimodal AI. Imagine a system that processes diverse types of information at once, like the human brain. 

What is multimodal AI?

Since our very beginnings, humans have learned about the world through multiple senses, such as sight, sound and touch. Our brains naturally absorb these various types of information to form a complete understanding of our environment. Multimodal AI systems mirror this approach. 

The global multimodal AI market is projected to grow at an impressive annual average rate of 32.2%, reaching a valuation of $8.4 billion by 2030.

Whereas unimodal AI systems might only analyse text to generate insights, multimodal AI comprehends the nuances of a video, the tone of a voice recording and the sentiment in a piece of text simultaneously. 

For marketers, this means the ability to analyse and leverage various data sources in ways never before possible, enabling a much deeper insight into consumer behaviour and preferences, leading to more targeted and impactful marketing strategies.

Enhancing customer experience 

One of the most exciting applications of multimodal AI in marketing is in customer experience and service. Imagine chatbots that can not only grasp text queries but also interpret images, voice and even emotional cues. 

Multimodal AI reads emotional cues by:

  • Analysing facial expressions
  • Interpreting voice tone
  • Detecting physiological signals

Through computer vision and natural language processing, it:

  • Detects feelings through key facial points (eyes, mouth, eyebrows)
  • Examines audio signals for tone, loudness and speech tempo

By integrating these inputs, multimodal AI provides a comprehensive assessment of the user’s emotional state, making interactions more empathetic and responsive.

This will lead to more natural, human-like encounters between brands and consumers, boosting customer satisfaction and loyalty.

The future of personalisation 

Personalisation, a holy grail of modern marketing, could reach new heights with multimodal AI. By analysing user activity across text, visuals and audio, these AI systems create highly tailored experiences that match individual preferences and behaviours.

Multimodal AI combines data from various sources to decipher user preferences better. For example, by examining past purchases and social media engagements, it tailors marketing messages and recommendations precisely​.

This could significantly enhance adaptive marketing by connecting with customers on a highly curated level.

Transforming advertising 

In the realm of advertising, multimodal AI opens up endless possibilities for more dynamic and interactive ad formats. Picture ads that can adapt their visual and textual content in real-time based on viewer patterns, or video ads that can be instantly localised for different markets with appropriate language and cultural nuances.

Overcoming obstacles in multimodal AI implementation

As with any powerful technology, multimodal AI comes with its challenges. Data privacy and ethical use of information will be critical concerns as these systems process increasingly diverse and sensitive personal details. Marketers will need to navigate these issues carefully to maintain consumer trust.

Additionally, the complexity of multimodal AI systems may require new skills and expertise within marketing teams. There will likely be a learning curve as people adapt to working with these sophisticated tools and interpreting their outputs.

Embracing the potential of multimodal AI in marketing

By 2026, single-modality AI models will be severely outpaced by multimodal AI models in over 60% of AI solutions, a substantial increase from less than 1% in 2023.

Despite these challenges, the potential of multimodal AI in marketing is immense. As the technology matures, we can expect to see more intuitive, adaptive and effective marketing strategies that blur the lines between different modes of communication. 

Marketers who embrace this technology early stand to gain a significant competitive advantage in the increasingly digital and AI-driven landscape.

The future of marketing is multimodal and it’s arriving faster than we might think. 

Are you ready?

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