GroupM has released AI-trend report – The Next 10: Artificial Intelligence – looking into technology and behaviours shaping the next decade of advertising
According to the report by Kate Scott-Dawkins and a number of contributors across their group, AI-enabled marketing already accounts for more than $370 billion of global advertising revenue or roughly 45% of all advertising.
The growth will only continue and by 2032, AI-enabled advertising is likely to account for $1.3 trillion in advertising revenue, more than 90% of the total.
The company’s report also revealed some major implications including the declining reach of linear TV and less tolerance of irrelevant, interruptive ad pods.
It also noted the growth of audio-first devices with digital assistants (i.e., earbuds and smart home speakers) means that voice search will overtake text-based search
Additional implication is that data will most often be managed on-device and will be increasingly unclear or anonymised by AI and privacy services.
“Humans must remain in-the-loop as the architects and supervisors of these campaigns as we work to answer certain vital questions on the future use of AI in advertising,” the company’s report noted.
It also noted additional key takeaways in a number of several categories. Advances in AI and evolving media channels could result in marketers increasingly tying together products, consumer experiences and advertising experiences:
• Automotive: the use of generative AI and digital twins will enable greater personalisation of advertising in the sector—i.e.: a custom colour model shown driving in the buyer’s own city.
• CPG: machine learning paired with genomic sequencing will make personalised nutrition and personal care products increasingly possible.
• Apparel: computer vision, machine learning algorithms and generative AI could disrupt the apparel and retail industry by creating a vast grey market of copycat goods or user generated designs competing for image searches.
• Entertainment: personalised storytelling could become a reality as ads and IP are customised based on audience data and/or selections.
The GroupM report concluded: “Before long, we will likely need to overcome our fear of riding in an autonomous vehicle. Similarly, we should not let fear of AI augmentation paralyze our progress toward offering better advertising experiences for consumers and advertisers alike. AI is already here, and it’s not slowing down.
“Our human effort can best be applied imagining what we want the future to look like, designing the right goals and guardrails, and learning to put AI to use in service of those.”