AI Shifts From 90% Data To 10x More Creativity Time, Says Richa Singh
In today's rapidly evolving marketing landscape, brands are strategically harnessing the power of AI across diverse applications to drive innovation, enhance efficiency, and transform customer experiences. From optimising operations to crafting personalised marketing strategies, the profound impact of AI on businesses is reshaping industries.
With a career spanning across two decades, Richa Singh, Managing Director India & Middle East, Natural Diamond Council, in conversation with Dr Annurag Batra, Chairman & Editor-in-chief, BW Businessworld Group takes a nostalgic journey through her two-decade career, recalling her early days in a creative agency and the revolutionary impact of the digital world.
Singh notes the significant simplification of research processes and increased access to data stating, “What has changed, is that research has become simpler. The access to data has become simpler.” She emphasises the importance of marketing elements like gut, empathy, and consumer understanding, acknowledging the transformation of data crunching into a science.
With the global-local shift in perspective, making marketing more dynamic, Singh commented, “The approach to marketing has changed, but I would think that the inherent core of creativity is still the same.”
Discussing AI, Singh acknowledges the unique challenge of absorbing information with years of experience and highlights AI as an invaluable asset, given in her toolkit. Reflecting on the transformative shift in time allocation due to AI, she underscores, “AI saves a lot of time. The amount of time we spend on gathering information, previously I used to spend 90 per cent time gathering data and 10 per cent in interpreting it and analysing it. This has flipped over. Now I have that much more time for hypothesis and analysis, more interpretations and possibilities. You have more time on the intangible, because the tangible has become so much easier.”
Intrigued by the potential of AI, Batra quizzed about AI's integration at work, prompting Singh to assert the enduring relevance of creativity and copywriting as careers. Singh emphasised leadership responsibility, discussed the need to retrain teams, adapt careers, and prioritise upskilling. She acknowledged the inevitability of certain careers becoming obsolete. Singh pointed out India's gradual pace in embracing change highlighting, “We have a large workforce so we shy away from taking it on us. The biggest challenge is that we aren’t trained to use AI to its maximum capability.”
During the discussion, Batra emphasised the upward trajectory of premiumisation in India. Singh, sharing her perspective, highlighted, “The Gen Z today have their dreams and they work towards it. They also understand that they have the right to achieve this, a sense of entitlement – you dream bigger and aspire bigger and that’s what makes it happen for them.”
In a conversation about the enduring love for diamonds, Singh underscores the emotional connection associated with these gems. She expressed, “It gives a sense of power and confidence that my team has worked on – in terms of getting the diamond industry to what it is” shedding light on the emotional significance of lab-grown diamonds, emphasising their impact on the global market.
Singh delved into the realm of savings habits among Indians and its intersection with the ‘You Only Live Once’ (YOLO) factor in the diamond industry. She mentioned, “We are in a category wherein we are saying that while we prove to be a good investment opportunity, it is also about enjoying. This generation is also about looking at making something mine, whether its social media or the way they look.”
Speaking at the 18th edition of the BW Marketing Whitebook Summit which was held on 8 December and revolved around the theme - #iammarketer: From Gen AI to Gen Z, Singh wraps up the conversation by stating that all the Bollywood stars are the potential brand ambassadors for Natural Diamond Council.
