AI Is Now: Embracing Accelerated Change In Advertising
The emergence of artificial intelligence (AI) is reshaping industries at an unprecedented pace, and the advertising industry is no exception. According to Michael Dobell, co-founder and EVP for Innovation at Media.Monks, AI is not just the future; it is now. "What's for dinner is the current economics of advertising," Dobell emphasises, highlighting the transformative impact of AI on marketing strategies.
With AI, there is potential for consumers to bypass traditional marketing channels and access the information they seek directly. Dobell acknowledges this shift, stating, "There is this potential for people to skip marketing and get to the information they want." However, rather than fearing this acceleration, Dobell suggests embracing it. He views AI not as a threat, but as a powerful tool akin to a new type of camera, offering fresh perspectives and opportunities for innovation.
One of the key advantages of AI in advertising lies in its ability to streamline processes and accelerate the supply chain. Dobell emphasises the importance of simplification, "By simplifying, by bringing your people along and by connecting the steps, we're accelerating the supply chain.” This approach enables companies to adapt more quickly to changing market demands and deliver content with greater efficiency and effectiveness.
AI is changing the way brands engage with consumers, offering personalised experiences and targeted messaging tailored to individual preferences. Through advanced data analytics and machine learning algorithms, AI can analyse vast amounts of consumer data to identify trends, predict behaviour and optimise advertising campaigns in real-time.
Moreover, AI-powered technologies such as natural language processing and computer vision are enabling more immersive and interactive advertising experiences. From chatbots that provide instant customer support to augmented reality ads that allow users to visualise products in their own environment, AI is expanding the possibilities for creative storytelling and brand engagement.
As the advertising industry continues to evolve, embracing innovation and leveraging technology-driven solutions will be essential for staying ahead of the curve. By harnessing the power of AI to streamline processes, personalise experiences and drive meaningful connections with consumers, brands can navigate the evolving landscape with confidence and creativity.
