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We’ve all been inundated with AI news over the past 12 months so there’s no need to recap a timeline :)
Instead, this article provides a quick rundown of some key pros and cons of generative AI in digital marketing and the POV of Gravity Labs.
This article does not speak to AI at large, nor does it intend to address any of the societal ramifications of artificial intelligence (good or bad).
TL;DR
We are all beginners at this and in the spirit of testing, curiosity, and learning, I can appreciate it.
I see some obvious pros and cons and am keeping an open mind to testing new products and learning more about their capabilities.
Like most people I've talked to, I would be lying if I said I wasn't somewhat skeptical, as a lot of this is new and as a result, unnatural. But, I believe that digital teams (among others) have a responsibility to at least understand how generative AI works and what it can do for them and their clients/companies.
I don't advocate for resisting technological innovation. Instead, I'd rather accumulate information from reputable sources, peers, and first-hand experiences and decide whether generative AI is a good fit for my situation and the goals at hand.
Pros: Generative AI in Digital Marketing
Strategy and Brands for the Win
With the influx in saturation, it'll take real strategy and creativity to stand out, and I think that bodes well for thoughtful marketers and companies who have worked hard over time to cultivate a strong brand and deliver a positive customer experience.
Furthermore, teams who have a holistic approach to their digital strategy, tactical management, and attribution – and the broader implications that these have on the business – will continue to find success. I view this as a benefit.
Expertise
Similarly, having true expertise on a topic matters, and being to go deep and provide more meaningful information will hopefully be rewarded. Google has been rewarding experience, expertise, authoritativeness, and trustworthiness for years (see all of the E-E-A-T updates).
Now that basic content creation is easier than ever, this will challenge content creators to do better work. Ultimately, this will provide more value to the user.
Learn Fast
As an analytics nerd, I can test more at a higher rate and get the necessary metrics in order to scale what works and sunset what doesn't work. Learning fast can save lots of money in wasted resource allocation and budgets.
Reduced Barriers to Entry
Generative AI can lower the barrier for entry for some deliverables, which is especially helpful to teams who don't have a lot of budget.
Idea Generation
Utilizing software to generate ideas for marketing campaigns, content, etc. is not new. Considering its ease of use, generative AI can help to level up those offerings and provide richer iterations.
Focus on High-Impact Items
By being able to automate some of the minutia and tasks, marketers can use their time more impactfully to focus on planning, strategy, analysis, and more.
Cons of Generative AI
Again, this isn’t inclusive of everything. Instead, this is what I see at a high level, at the moment.
Noise
The number of AI mentions on earnings calls during the second quarter of 2023 increased 366% compared to the previous quarter, and companies who mentioned AI on their earnings calls during Q2 2023 saw their stocks rise 4.6% three days after call; compared to a gain of only 2.4% for companies that did not mention the term. Similar to the dot com bubble and the NFT crash a few years ago, if all you need to do is say the buzzword to see serious movement in company valuations and net worths, something feels a little off.
Generative AI has practical application and feels real, but knowing who is in it to provide meaningful solutions versus those who are just trying to make a quick buck is increasingly difficult as we’re still in the “gold rush” phase.
Generic Output
I am looking forward to the algorithm updates that crack down on the mass deployment of generic content. Google has penalized this behavior before and it will again, but until that happens at scale, it’s going to be messy.
That said, I go back to my point above that teams who can be creative, resourceful, and strategic won’t have problems.
Quality and Facts
I recommend a heavy hand in human review when it comes to generative AI, especially for companies in niches with compliance considerations. Generative AI is still in the early stages and doesn’t always show verifiable facts.
Unknowns & Balance
As far as digital marketing goes, I am excited about some of the things generative AI can do, and skeptical of others. That said, I do feel that it's part of our job to understand how technology can impact what we do (for better or for worse) and to know how to use it – then decide if it’s a good fit.
While we’ve all heard the doomsday scenarios, there will undoubtedly be instances where generative AI can actually help people do their digital marketing jobs better and deliver a more impactful solution, and that shouldn’t be overlooked.
Lotta ballgame left.