Integrating Artificial Intelligence (AI) With Social Media Generating Lucrative Market Opportunities
Leaders in the social media market are using AI for predictive measures in terms of forecasting users’ behaviors, as well as solving issues quickly as they develop.
As social media companies aim to maximize user data, artificial intelligence (AI) is being infused to create new market opportunities by dramatically being able to collect and analyze data more efficiently in order to maximize user experience and revenue opportunities. Fuelled by the ever-increasing number of social media users and their active online behavior, integrating AI is taking the social experience to new heights. AI is one of the fastest growing technology segments, as the International Data Corporation estimates that spending on AI platforms will reach a staggering $57 billion by 2021.
Leaders in the social media market are using AI for predictive measures in terms of forecasting users’ behaviors, as well as solving issues quickly as they develop. Just above every significant social media platform is beginning to leverage AI in some form or fashion. Active companies in the markets this week include Engagement Labs, Twitter Inc., Facebook Inc., Twilio Inc., Amazon.com Inc.
Engagement Labs has announced a powerful new enhancement to TotalSocial®, which deploys artificial intelligence (AI) and machine learning to enable clients to more quickly and accurately plan growth strategies based on unique social data and analytics. The newest release is part of Engagement Labs’ ongoing commitment to innovation. The technology update helps clients grow revenues and marketing ROI by tapping into the social trends, both online and offline, that can help them win in today’s dynamic marketplace.
In January, the company announced it was deploying AI to drive predictive analytics through the development of proprietary algorithms which rapidly build hundreds of predictive models using more than 100 variables in millions of possible combinations to identify the factors that generate sales and drive other key performance indicators for brands.
With today’s announcement, TotalSocial now deploys AI to provide new, powerful automation tools that identify unexpected variations in brand performance and diagnose the underlying factors for these changes. For example, the AI the system recognizes when an unexpected drop in sentiment occurs and sends an immediate alert. Diagnostics are run to identify the root cause as well as the appropriate course of action. This is all done in real time and empowers marketers with cutting-edge tools leading to instant detection of changes in trends and rapid optimization strategies to maximize ROI.
“Imagine that a Fortune 500 retailer is launching a new disruptive ad campaign to promote its spring attire. TotalSocial is used to monitor the success of its campaign each week,” said Engagement Labs’ VP of Analytics Rick Larkin, explaining how the new AI Diagnostics works.
Rick added, “By leveraging AI, TotalSocial now automatically builds thousands of models across all key metrics to identify true moments of lift and allow brands to optimize ROI.”
“We are committed to delivering the data and analytics clients need in real time, so they can make fast, smart decisions to improve their business performance. AI Diagnostics for TotalSocial make our platform faster and better in uncovering not only what’s happening that’s having an impact on our clients’ business, but why and how to respond,” said Ed Keller, CEO of Engagement Labs.
