Chase to Use AI for Marketing Content Creation. JPMorgan Chase embraced AI for its marketing content creation, partnering with AI firms to generate compelling copy. This strategy aims to increase efficiency and effectiveness in ad copywriting. AI algorithms analyze data to produce optimized headlines and ad content, potentially revolutionizing traditional marketing approaches by combining creativity with data-driven insights.
Are freelance copywriters and in-house teams soon to be out of a job? We’re in the v. Writing algorithms have been available for purchase or a while now. Major companies are using them and they are creating well written articles supported by data.
When it comes to content writing bots you’ll see a lot of phrases such as intelligent narratives, automated storytelling technology, and natural language generation. Let’s take a closer look at some of the major players in the AI content field.
Quill by Narrative Science
Narrative Science began in 2010 as a Northwestern University experiment turning baseball scores into stories. The following year it raised more than $6 million to study the landscape of creating stories without humans. In 2013, they raised another $11.5 million for further development. Today, will generate news stories, headlines, and Industry reports all without human intervention. Though it’s limited to the confines of data backed content and news reports, it generates that type of content at scale.
Narrative Science rents their platform to mostly financial clients who can get reports 10 – 15 pages in length within a matter of moments. A writer would need weeks to put it together. Reports show that Quill turns out over a million words a day creating content for clients such as Forbes, USAA, T Rowe Price and Groupon.
Though pricing is not listed directly on the Narrative Science website, other sources indicate that pricing is based on story types. One story type could generate up to 100,000 stories and cost $70,000 a year while using three story types would cost $175,000 a year.
Persado is an AI platform that focuses on creating digital marketing copy. Recently they announced a five-year partnership with banking giant Chase. Their pilot relationship began three years ago using the toll for its card and mortgage business. The relationship now expands across all of the financial giant platforms. Chase says that ads created by Persado’s machine learning performed better than ads written by humans with a higher percentage of click-through rates twice as many in some cases. The company works alongside chases marketing team and agencies.
Chase says their relationship with Persado has not had an impact on their staffing structure. Persado says that the chase is the first brand to use their AI technology across platforms they already work with 250 marketers across a variety of Brands including Expedia, Williams-Sonoma and Dell.
Automated Insights and WordSmith
The Associated Press, one of the nation’s oldest news networks, founded in 1846 are now using robots to write thousands of news stories. Their platform Automated Insights was used to combat the low output of corporate earning reports by their writers. Using the AI technology they increased output 1200%.
Using Automated Insights, the Associated Press now produces 3,700 quarterly earnings stories which are short.
Automated Insights has gone on to create their own smart content robot called Wordsmith. Automated insights maintains that Wordsmith is the world’s first public natural language generation platform. The catch is that a lot of human content work is required to make the algorithm work.
You must add your data to the software with a few data points for the story then write a template for the story. Then preview the output of the software and edit it. Then, you publish your half robot and half human-created story from the app.
Because Wordsmith is essentially a mutation of a bot with a human, we could see many marketers going in this direction. Hundreds of businesses, such as Microsoft Yahoo and Allstate have invested in using the platform which generates more than one and a half billion pieces of content every year. It can develop content in more than 20 languages and generate content in seconds compared to taking a team of writers possibly weeks to develop.
Access to Wordsmith starts at $2,000 per month with an annual contract. Managed services are an additional fee. Set up costs associated with each stories data points are also an additional fee.
The Washington Post has published more than 850 stories in the past year using its in-house automated storytelling technology. More realistically however, it may be better referred to as in-house reporting technology because it generates news articles and social media posts.
The Washington Post sells Heliograf technology through Arc Publishing. Pricing starts at $10,000 a month and can increase to over $150,000 a month. As the Wall Street Journal reports, profitability is huge with 60% to 80% margins.
The good news for content creators is there is still plenty of room on the market. As the more advanced AI tools are very expensive and out of range for many small businesses, human writers still hold a lot of value. Though more bots are coming onto the scene on a regular basis, it will be a while before the technology is perfected to the point where it produces stellar copy at an affordable price.