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Marketing 4.0: Emerging Technologies That are Refining Digital Marketing
Technology can be defined as the application of scientific knowledge to meet a specific practical need. This definition is an all-embracing one and is more relevant in a world which has seen its influence permeate every facet of the present-day life at a rapid pace. However, its influence can be embodied in the diverse industries that have emerged in this century. Certain industries are anticipated to change so much in the coming 20 years than they have in the last two centuries (Morrison, 2017). To counter the impact of technology and to ensure that they never lose sight of the race, industry giants are investing a huge chunk of their revenue on Research and Development; and its (R&D) part of the pie is always on the rise year-on-year (Loeb, 2018). The computational and analytical ability of AI systems are increasing faster than Moore’s Law (Perrault, 2019). Such prowess has enabled the emergence of a multitude of streams rooted in Artificial Intelligence and related technologies.
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