And it will revolutionalize sales and marketing.
Artificial Intelligence (AI) is all the rage today in the marketing and advertising world. But the industry is focused on more traditional and expected AI applications - typically natural language processing (NLP) and algorithmic uses such as intelligent targeting and rapid optimization iterations.
But a growing - and arguably an even bigger game changer - is the advent of Emotion Detection and Recogition capabilities.
According to Data Bridge Market Research, this new dimension of AI is defined accordingly:
"Emotion detection and recognition is a technique used in software that allows a program to read the emotions on a human face with the help of advanced image processing technologies. Not only this technology is capable of going through facial expression such as anger, sadness, happiness, and others but also capture subtle body language. It is widely applicable in enterprises, defense and security agency, commercial, industrial, and others.
For the marketing and advertising world, one can just imagine the applications of emotion detection.
First, it's easy to think about advertising and branded content being instantly measurable from an emotional standpoint. The industry has always grappled with the true meaning of "impressions", which is only the potential delivery of a message. Emotion detection provides a quantum leap forward in terms of the many meaningful layers of measurability that an emotion metrics provide.
Second, while the industry is focused on "engagement" where some sort of action is required to demonstrate impact, emotion-based metrics opens up the value of messaging research. And, one can start to understand the linkage between meaningful impressions and what triggers engagement.
Third, expand emotion detection to product packaging, promotions, even to product consumption (imagine understanding, in real time, how a product makes a customer feel as they use the product). Pretty powerful stuff.
Of course, the applications extend way beyond just messaging, advertising, sales, etc. Think about how it can be used to gauge website or app usage. Or maybe deliver the right programming. Perhaps used to read an audience reaction to a presentation or sales pitch?
The emotion detection and recognition market is growing rapidly. Companies such as: Affectiva, Beyond Verbal, CrowdEmotion, Emotient (acquired by Apple), Eyeris Medical Center Pvt. Ltd., Kairos AR, Inc., Noldus Information Technology, nViso SA, Realeyes, Sentiance, Sightcorp, SkyBiometry, Tobii AB, and others are the main players according to Data Bridge. According to their research, the Global Emotion Detection and Recognition Market accounted for USD 7.3 billion in 2016 growing at a CAGR of 40.1% during the forecast period of 2017 to 2024.
It's clear that brand marketers need to pay close attention to this developing technology.
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