Generative AI is an innovative algorithm that utilizes existing data to create new content, and it is increasingly popular due to its ability to find novel solutions to problems. Examples of these useful platforms include Chat GPT, Nova, and Bard. 77% of companies are exploring the uses of generative AI, and many businesses have reported significant productivity increases of up to 40% as a result of using this technology.
Generative AI has been particularly beneficial in marketing, where it has been used to create patterns that capture people’s attention. This approach has been tested across a variety of industries, including legal and professional services, high-tech and telecom, and financial services. As generative marketing continues to evolve, it is expected to enable marketers to personalize offers, emails, and ads for specific audiences.
Small businesses can also take advantage of this technology, as it has become more accessible over time. Experts predict that there will be a surge in generative AI startups due to the vast potential of this technology. The number of AI startups has already increased by 14 times since 2000, and this trend is expected to continue. As such, business leaders must monitor this trend closely to remain competitive.
Learn more about generative AI in marketing in the infographic below:
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