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Artificial intelligence for smart bidding
Journal of AI, Robotics & Workplace Automation,
2
(2),
153-164
(2023)
Abstract
Growth in industry digitisation in recent years has resulted in consumers, manufacturers and service providers succumbing to the allure of the online platform, leading to the erosion of the long-standing supremacy of traditional businesses. With increasing competition among manufacturers both at local and global scope, it becomes crucial for them to make intelligent digital marketing decisions which could help get ahead of their competitors. Artificial intelligence (AI) has proven to be an effective medium for supporting decision-making in digital marketing. This paper discusses the application of contextual multi-armed bandits to optimise the bidding strategy used by digital advertisers in main search platforms. The highly scalable algorithm, apart from suggesting a winning strategy in an advertising auction, also enables clients to improve return on investment (ROI) using digital advertising.
Keywords: ad exchange; advertiser; contextual multi-armed bandits; digital marketing; publisher; reinforcement learning; AI (artificial intelligence); data-driven decision making
The full article is available to subscribers to the journal.
Author's Biography
Pratyush Shandilya is a Data Scientist at Amplify Analytix. He has developed bespoke end-to-end data science solutions for clients in diverse industries. His expertise is in Deep learning, Reinforcement learning and Natural Language Processing. Pratyush holds a Master of Science from the Carnegie Mellon University.
Laura Murphy is the co-founder and Chief Executive Officer of Amplify Analytix. A former head of business transformation in international markets, Laura specialises in helping organisations embrace the benefits of data science to improve commercial performance.
Fernando Perales is Head of the Research Lab and Strategic Partnerships at JOT Internet Media, where he is responsible for the coordination of innovation projects, from developing in-house technology to participating in pan-European collaborations to test cutting-edge Big Data applications.
