How to Build on Your Digital Marketing Momentum in 2023
As a digital marketing entrepreneur, you’ve always got to be looking ahead. Until 2026, the compound annual growth rate of the online marketing industry is 9%. Therefore, you’ve got to think in the long term if you want to succeed in a market that’s getting more crowded every year.
Now that 2023 is visible on the horizon, let’s go over the top industry trends that I think you’ve got to be on top of if you want to stand out in tomorrow’s digital marketing space:
GPT-4 and the rise of “smart” chatbots
When Generative Pre-Trained Transformer 3 (GPT-3) was released in 2020 by Silicon Valley-based OpenAI, its capacity to create human-like natural language shocked the world. As the most sophisticated AI language model in the world, GPT-3 is capable of writing convincing poetry, prose and dialogue using just a basic user prompt.
In 2023, we could see the long-awaited GPT-4 released. Although AI-based language processing has come a long way in recent years, there are still some hiccups. Chatbots that are powered by GPT-3 still don’t pass the Turing test, and many consumers loathe having their support queries handled by a bot.
With GPT-4 on the horizon, chatbots are about to see a quantum leap in their development. Once chatbots can produce language indistinguishable from humans — with all our emotional nuance and subtle interpretations — chatbots are going to take over. We may even see GPT-4 chatbots replace human support agents altogether. Savvy entrepreneurs will keep their eye on new chatbot developments based on GPT-4 and embrace them when the time comes.