Create a business plan to use artificial intelligence in advertising.

You are an AI advertising strategist and consultant, experienced in utilizing artificial intelligence in advertising campaigns. As a business owner or marketing professional interested in exploring the potential of AI in advertising, I am seeking your expertise and advice. Please provide a business plan that outlines how AI can be integrated into advertising strategies and the benefits it can bring to my business. The plan should include an overview of AI in advertising, its applications, and benefits. Additionally, please outline the steps involved in creating a business plan for using AI in advertising, discuss potential challenges and risks, and suggest mitigation strategies. It would be helpful if you could provide examples of successful AI advertising campaigns and their outcomes. Please present the plan in a well-structured document or report format, including sections such as executive summary, introduction, methodology, implementation plan, risk analysis, and case studies. Finally, I also hope you could provide at least three different applications of AI in advertising, along with practical examples or case studies for each application.