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Five Big AI Marketing Predictions for 2024
181 Plays1 year ago
Welcome to AI-Driven Marketer, in this episode Dan Sanchez discusses his five big predictions for AI in marketing in 2024. He shares insights on the impact of AI on big and small companies, the incorporation of AI into existing products, the potential for new AI applications, and the need for building competencies in AI beyond the basics. As the conversation unfolds, listeners can expect to gain valuable insights into the future of AI in marketing and how they can adapt their strategies to stay ahead of the curve.
Timestamps:
00:00 High expectations for AI despite potential setbacks.
04:08 Small, agile AI companies outpacing larger players.
06:30 Content automation and bots to increase in 2024.
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Transcript
Dan Sanchez's AI Predictions for Marketing in 2024
00:00:01
Speaker
Hey, hey, welcome back to the AI Micro Skills Podcast. It's just me, Dan Sanchez, AKA Danchez, talking to you today because I have five big predictions that I think AI is gonna, that's gonna happen in AI for marketing in 2024. Now we're at the end of the December, like everybody's throwing out predictions. So I was like, dang, I got some predictions. I know, I think I know what's gonna happen, but at the same time, I've only been doing a deep dive for a couple of weeks. So take this with a grain of salt.
Comparing AI's Potential to Past Tech Waves
00:00:29
Speaker
But I will say there aren't a lot of people pushing in specifically into AI and marketing, so I don't know. I'll give it a shot. I've certainly seen these things come and go before with social media, marketing automation, Facebook ads. I've caught and run with some waves in WordPress. I called that one. I knew it was gonna work. I didn't document it, so I can't prove it. But there's a number of predictions that I've made that things that were going to be big, and I actually think AI is going to be bigger than a lot of those things.
00:00:57
Speaker
But it's really hard to see how big i will be into the future and everyone generally anybody in a i no matter how good there is this kind of like yeah i don't know what's going on behind a few years.
Big Companies' Investment in AI: Boon or Bane?
00:01:09
Speaker
And it is hard it's hard to know exactly the rate of change has been so great that it's kinda like i don't know three years out who knows it's anybody's guess but when you're out.
00:01:18
Speaker
It's a little bit more known. There's some things we can know. We've seen the trend happen in other categories and new inventions that have come out. So maybe it'll happen a little faster, but who knows? So it's anybody's guess as to what will happen. But here are my five based on what I've seen play out before.
Small Businesses Thriving with AI
00:01:36
Speaker
Number one is a lot of companies, a lot of big companies are talking about AI aggressively right now.
00:01:41
Speaker
And in multiple industries, I mean, we're talking like the big accounting companies of the world are talking about it. Food manufacturers are talking about it. Marketing companies are talking about it. Everybody's talking about it. Everybody's looking at AI, seeing the disruption happening. Everybody's trying to prepare. Everyone's trying to get ahead. My prediction is, number one, is that a lot of big companies will take a big bets on AI this year.
00:02:05
Speaker
with very
Empowering Innovation Through AI
00:02:06
Speaker
mixed results. I think a lot of those big bets will come away with so-so results or even disappointing results. And I actually think because it will have some disappointing results from some big players taking big bets, it's going to backfire and there will be a slump in AI and it will catch up to the hype. And some people will be like, you see, AI isn't as good as we thought it would be.
00:02:29
Speaker
Well, that's because they bet too big on it and thought it was too capable for doing something really complicated too fast. It kind of, it's kind of like. Expecting iPhones to be as good as they are now, but it's, it's 2015 and it's gotten a lot better since 2010, but you know, the 2015 models of iPhones were only so good at photos. Now, like the newest iPhones.
00:02:53
Speaker
It's hard to tell a pro photo from an amateur photo these days because it's so good at making great looking photos. So I think we're gonna expect, I think I'm expecting that. I'm expecting some big companies take some big swings in some big ways on AI. Miss for there to be a backlash and people crying about AI. That doesn't slow me down because I'm expecting that to happen. I know AI is gonna be big and continue to get better and better over the next couple of years, even this one year. So let's see what my next predictions are.
00:03:22
Speaker
I think for all the big companies taking big bets, all the small companies, the solopreneurs, the creators, and a few scrappy marketing departments and mid-sized companies, they're going to take a lot of small bets and it's going to pay off big. I think a couple of, not a couple, but many smaller teams and players are going to run whole companies with AI.
00:03:45
Speaker
Why do I think that? Because I've seen it happen before.
AI Integration in Existing Products
00:03:48
Speaker
It's exactly what happened with marketing automation 10 years ago, when small tools like Infusionsoft were making small business players be able to do million plus companies with just them and their assistant or a very small team. It was possible because they could now automate a lot of the processes that only big companies can handle with lots of people before.
00:04:07
Speaker
The same thing's going to happen with AI, it already is happening with AI. So it's not much of a prediction, because it's already starting to look like that. The AI companies that I'm talking to are like, Yeah, my best players are all small people.
00:04:18
Speaker
That's because small independent people can innovate faster, find what works quicker, because they're so much more connected to the end result. They're the ones working on the product, talking to the customer and are making stuff happen, which is why they can find perfect utilizations of AI to help augment what they're currently doing to make them more effective fast.
00:04:37
Speaker
So I think those people will end up being the ones that write the playbook that's mid-sized. The bigger companies will be following in 2025 through 2026. The plays that happen this year from those players will set the stage for what happens in the next years. And then who knows, there might be some big innovations after that that end up rewriting the whole playbook again. So we'll see.
AI-Driven Content Automation and Its Challenges
00:04:59
Speaker
Prediction number three, a lot of AI
00:05:02
Speaker
will get incorporated into the products we're already using. I mean, it's already getting incorporated into it, like HubSpot's already adopting it. Right now it's in kind of like small fry aways, like shorten this, change the tone of this in your writing and stuff, but they're gonna keep pushing the envelope and they're gonna keep making it useful.
00:05:19
Speaker
So we're actually going to see AI incorporated like every tool that we use, maybe not every tool this year, but the majority of tech companies are playing around with this right now this year and are going to start releasing things if they haven't already this year, next year. And a lot of these tools are just going to get better because honestly, like what AI does fills in a lot of gaps that couldn't be automated before.
00:05:42
Speaker
It answers a lot, it fixes a lot of problems that we reached with automation in general and data hygiene and being able to do basic analysis on all these different numbers and data and stuff we had coming into our CRM. It's going to fix a lot of that. And it's just going to make what we're doing already so much more efficient. It's not going to invent crazy new stuff, but a lot of it's just going to get way smoother. Like Loom automatically creating titles and summaries before every video. It was a nice little touch that just made Loom so much better.
00:06:12
Speaker
That's going to happen across the board on so many different tools and it's going to be fantastic. We're all going to love it because we've just gotten used to tools working a certain way and now it's going to have this AI layer on it and it's going to make things better. So that's prediction number three, AI gets put into everything. And honestly, an extension of that is not only will things be automated more, but that means a lot of content is going to be automated more and there's going to be a greater proliferation to the point where
00:06:39
Speaker
We'll probably run into lots of bots next year in social media and we'll constantly have to be asking like, are you a human or are you a bot? That's going to be a frequent question. I think in 2024, are you a human or you a pot? But that's part of AI being built into things that we're already doing. It's not like a big AI prediction. It's just part of it. And of course, content proliferation and an election year means it's going to be more weird fake content and it's going to be
00:07:05
Speaker
It's going to be funky, so there's just going to be more content, more needs for filtering out content. That part's going to start getting weird, but I'm not going to start delving into what's going to happen with politics because of AI.
Emerging AI Applications in Marketing
00:07:15
Speaker
So let's move into prediction four. A few new ways are going to come up with AI, new ways to use AI for marketing that we would have never even dreamed of using.
00:07:26
Speaker
Some company's gonna come out and be like, look what you can do with AI. And we're all gonna be like, what the crap? Didn't even think about that. It's gonna blow our minds. I didn't even think you could use AI for that, but cool. And it's gonna actually be helpful. That's my prediction, that a few new twists on AI are gonna happen. And it might be this weird video thing or augmented reality. I don't know. Something's gonna happen.
00:07:48
Speaker
that's gonna surprise and delight us and marketers are gonna instantly gobble it up and start using it because it's gonna be really cool. I don't know what those things are, but I'm expecting to be surprised by at least two or three different major things that we couldn't have predicted now. That'll be unpredictable, but they're gonna be cool and as marketers, we're gonna start using them. So I'm just keeping my eyes open for them so when they come, I'm ready to adopt them and start using them when they come.
Building AI Competencies Beyond Tools
00:08:13
Speaker
So that's prediction number four, prediction number five. Lastly, people will begin working towards building competencies AI beyond just fiddling with chat GPT.
00:08:23
Speaker
Okay, so maybe that last prediction is a little bit self-serving since that's the whole purpose of this podcast and the show and AI micro skills. But I think it's true and I probably won't be the only one doing it. Trying to build step-by-step guides and learning how to use AI that are not tool specific because the tools will change and like how we use them will change all the time.
00:08:43
Speaker
but will give people broad strokes of how to measure where they're at in their skill set with AI and also how to start building up so they can actually start proving their competency, building the skills that will set the stage for the work for tomorrow. So that's the point of this whole show, if you haven't found out already. So
00:09:04
Speaker
subscribe if you aren't and Stay tuned for the next episode have another interview coming up that I'm really excited about about AI and how to automate your podcast coming up shortly