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Artificial Intelligence (AI) in Social Media Market Trends and Forecast 2018 - 2026: IBM, Facebook, Amazon, Microsoft, Intel, Twitter, Xero, FreshBooks
Rapid evolution of social media platforms and technology such as cloud computing, mobile accounting, OCR technology has significantly changed human communication. The main goal of artificial intelligence systems is to develop systems capable of tacking complex problems in ways that are similar to human reasoning and logic. Artificial intelligence (AI) is helping vendors find new leads through social media. According to digital marketing experts, fully automated artificial intelligence systems are likely to take over all the areas of marketing in the next few years. Targeting social media users online is a highly specialized field. Owing to the increasing number of social media users and their active online behavior, integrating artificial intelligence is taking the social experience to new heights. AI is one of the fastest growing technological segments, combining artificial intelligence with marketing helps marketers generate new leads through social media marketing. Tech companies are working on tools to integrate AI in marketing strategies due to high importance of artificial intelligence-based systems. Artificial intelligence is expected to drive digital businesses across the globe. AI in social networks is one of the most efficient ways to sort through a large cluster of user’s information. The term used to describe the functions of this type of AI is known as deep learning, which means a high-level knowledge that is formed by establishing and analyzing patterns in large data sets.
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The global artificial intelligence in social media market is expanding due to factors such as high demand for better insights into CRM and increase in usage of social media for advertising. Additionally, growing adoption of customer-centric marketing strategies and increasing demand for virtual assistant are projected to drive the artificial intelligence in social media market. There are many social networking sites that have acquired small artificial intelligence businesses to increase their appeal and functionality to users. For instance, LinkedIn has invested in Bright, a company that permits the site to suggest better candidate matches for both job seekers and employers. It considers the user’s work experience, hiring patterns, and similarities in job descriptions. However, privacy, data security, and reliability concerns among users or businesses are major factors that are expected to hinder the artificial intelligence in social media market globally.
The global artificial intelligence in social media market can be segmented based on application and geography. In terms of application, the artificial intelligence in social media market can be divided into advertisement, auto traffic analysis, virtual assistant, image recognition, intelligent search, automated writing bots, and others. The virtual assistant segment is anticipated to expand at a considerable pace. This is due to rise in its usage for sales as it is designed to increase productivity and eliminate time-consuming lead generation activity.
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Based on geography, the global artificial intelligence in social media market can be categorized into North America, South America, Asia Pacific, Europe, and Middle East & Africa. The artificial intelligence in social media market in North America is anticipated to expand at a substantial growth rate during the forecast period. This is due to the increase in adoption of advanced technology and high focus on technology innovation, especially in the developed markets of the region. However, Asia Pacific is expected to be a lucrative region for the global artificial intelligence in social media market. This is due to the presence of a large customer base and a large number of small- and medium-sized enterprises.
The global artificial intelligence in social media market is characterized by the presence of several key players. Major players of the artificial intelligence in social media market compete with other players based on features such as price and quality. Key players operating in the global artificial intelligence in social media market include IBM, Facebook, Amazon, Microsoft, Intel, Twitter, Xero, FreshBooks, NetSuite ERP, and Oracle.
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