Welcome to this week’s issue of AI in Marketing.

McKinsey expects more workforce to get upskilled to AI in the next 3 years than getting separated from employers.

Start integrating AI into your existing skillset and seek opportunities with AI Native or AI Emergent companies to stay relevant in the near future.

Also, this issue has a new section - From the AI Community.

IN THIS ISSUE

• McKinsey’s State of AI in 2023 report

• Start with evaluating your existing MarTech stack for AI capabilities.

• AI-driven workflow automation enhances marketing outcomes

• From the AI community: In praise of Boring AI, and others

• Event Calendar: AI Marketing Virtual Summit, Aug 24 (New)

• Growth Corner: Prompt Engineering for ChatGPT, Vanderbilt University

• Tech Spotlight: Workflows by Copy.ai

TOP PICKS

“Industries relying most heavily on knowledge work are likely to see more disruption - and potentially reap more value.“

• The expected business disruption from gen AI is significant. There will be workforce cuts in certain areas and large reskilling efforts to address shifting talent needs.

• The most commonly reported business functions using newer AI tools are marketing and sales, product and service development, and service operations, such as customer care and back-office support.

• Within marketing and sales, organisations are using gen AI most regularly for crafting the first draft of text documents, personalized marketing and summarization.

• Technology and financial services industries are the most likely to expect disruptive change from gen AI.

• Inaccuracy is the most cited risk of using gen AI. Cited more frequently than cybersecurity and risk compliance.

• AI high-performer organisations are leveraging gen AI to create entirely new businesses or sources of revenue. They’re most likely to cite the increase in the value of existing offerings through new AI-based features.

Access the (free) full report here.

Start with evaluating your existing MarTech stack for AI capabilities.

Individuals and organisations are racing to include AI-powered tools to reap benefits in time, revenue and effort.

This does not mean that you must buy new tools that have AI or claim to be AI-based.

Most companies have been working on adding AI technology to their existing offerings. It means that your existing vendor may already be offering AI capabilities. You may need to learn and train your team to utilize these during the course of their work.

Such as,

• Hubspot now has Content Assistant and ChatSpot

• Salesforce now has Einstein GPT

• Canva now has text-to-image capability

• Zapier has a ChatGPT plug-in

Read the original post here.

AI-driven workflow automation enhances marketing outcomes

Robotic Process Automation (RPA) predates most AI applications of today and is used most commonly for testing user interfaces. It’s most useful for highly repetitive functions which would need a team of humans an excessive amount of time to work on.

In marketing & sales, near-term use cases for workflow automation can be:

• Automated responses to customer service requests

• Automating lead qualification

• Automated report generation

• Automated annotations to customer records

Read the full article here.

FROM THE AI COMMUNITY

• In Praise of Boring AI - Ethan Mollick, Associate Professor, The Wharton School

• Stop Saying AI & ML - Ben Bronson, VP Business Ops, Avix Networks

• Sensible AI Regulation Will Amplify Human Potential - Don Schuerman, CTO, Pegasystems

• Head of AI. Who is this person? - Dr. Michael G. Kollo, CEO, Evolved Reasoning

EVENT CALENDAR

1. AI Content Detection Tools - Myth vs Reality, Aug 23

2. AI Marketing Virtual Summit, August 24

3. State of Marketing and Sales AI in 2023, August 24

GROWTH CORNER

Prompt Engineering for ChatGPT, Vanderbilt University

You will learn:

• How to apply prompt engineering to effectively work with large language models, like ChatGPT

• How to use prompt patterns to tap into powerful capabilities within large language models

• How to create complex prompt-based applications for your life, business, or education.

Available on Coursera

TECH SPOTLIGHT

Bonus Tip: Commit to an annual subscription of any AI tool only AFTER doing a trial run for 3 months.

Even if you have to pay on a monthly basis for it.

Once you are certain that the tool brings value to your organisation and is a good fit for the use case that you are leveraging it for, consider it for the longer term.

Workflows by Copy.ai

Imagine that you enter a webpage URL for the recently released survey report conducted by your organisation. You hit enter, and within 5 minutes receive the first draft versions for social media posts across social channels, an email text copy with subject lines and a follow-up email copy.

In 5 mins.

Everyone in your team can do this exact thing, completely standardised. Every single time. For any piece of written content.

The dream for any content marketer!

This is exactly what Copy.ai’s Workflows feature does. It takes instructions from you, like any smart intern would, clarifies each step that it should undertake and once you approve of those steps, proceeds to execute the task.

Copy.ai folks have been conducting weekly webinars and office hours to introduce and train marketers on this feature.

You can check them out here. 

Sign up for the AI in marketing newsletter over here.

Thanks for reading.

Which section stood out for you? Let me know by hitting reply to this email.

Stay curious about AI in Marketing,

Shubhangi