Among the many sectors that Generative AI is poised to transform, marketing and advertising stand out. Generative AI has the potential to create full articles and digital images from a few text prompts, churn out endless social media posts on a given topic, or create multiple versions of a given image or ad campaign to allow greater targeting (And, as many stories have highlighted, firms must tread carefully because Generative AI has the potential to introduce fictitious, inaccurate, or inappropriate content).
But what about the other side of a marketing agency’s business – the nuts-and-bolts work of managing the business, building proposals, negotiating contracts, tracking deliverables, and meeting deadlines?
Generative AI capabilities are a little bit like the fiction and non-fiction sections of a bookstore… They’re both great, but they shouldn’t be confused!
It’s clear that Generative AI has the potential to advance the creative side of marketing businesses by generating creative concepts and variations quickly, for refinement by skilled humans.
But can Generative AI advance the contract and financial side of the marketing business, where accuracy is paramount?
A typical mid-sized marketing agency might have dozens or even hundreds of clients, and even more individual projects, each with its own contract, scope of work, deliverables, costs, and myriad other terms.
Identifying, tracking, and managing all of this business-critical information can be extremely time-consuming and cumbersome, and can often sidetrack employees from more strategic work.
Some marketing agencies have tried to use contract lifecycle management (CLM) tools to get a handle on critical business documents, but these tools are expensive and have limited insight into the content of the documents, requiring too much staff time to identify and enter critical information.
Other agencies have invested in intelligent document processing (IDP) software to extract key information. Unfortunately, many IDPs require expensive IT setup and training and perform poorly with unstructured information such as long-form business documents.
What digital marketing agencies need is a solution that combines the power, ease, and intuitive usability of Generative AI with the rigor and precision marketing leaders need to run their business and finance operations.
There’s an old saying – “garbage in, garbage out.” That’s especially true when it comes to Generative AI.
When a marketing professional needs to write a new proposal, the source material should not be “everything the AI has scraped from the internet.”
The source material should be “all of the firm’s relevant prior proposals.”
When an account executive needs to track deliverables across multiple scopes of work, they shouldn’t have to worry that the AI has created work items that were invented from questionable sources.
And when the executive team needs a report on contract end dates, revenue impacts, and renewal opportunities across the entire agency, they need to be able to trust every data point.
More broadly, Generative AI for business documents cannot be just for big companies. It can’t require a full IT department and weeks or months for deployment – that’s not realistic for most marketing firms.
So, what's the solution for marketing agencies who want to streamline business documents through AI?
Generative AI that is trained on your own documents and business scenarios, not Wikipedia entries, true-crime websites, and Reddit posts. You can trust AI that generates content exclusively from your firm’s existing content – content that is predictable and familiar to your agency.
Big multi-purpose Generative AI models like ChatGPT and OpenAI are generating a lot of headlines right now, due to their potential and due to some of their more infamous fails. For the creative side of the house, these tools are fine. For the business side of the house, marketing firms need Generative AI for business documents.
Docugami is Generative AI designed and trained exclusively for business scenarios. Content generated by Docugami is derived exclusively from your own business documents, minimizing the potential for inaccurate or inappropriate results.
And Docugami is designed to provide immediate value to front-line business users and managers on Day One, using your company’s familiar tools and systems, without costly IT projects or training.
Learn more about how generative AI can help YOUR business with YOUR own awesome non-fiction marketing service agreements.