Gen AI's Growth Potential & Impact On Modern Marketing

There is a remarkable disagreement about the growth potential of Gen AI. Though emerging at a micro level, evidence shows substantial improvements, informed productivity and worker performance, the macroeconomic efforts can be very uncertain.

Modern marketing is incomplete without talking about AI. Vipin Yadav, Director - Marketing, Hisense outlined that AI has become a significant part of the company’s day-to-day work. “Its role is very critical because it is the next product revolution that is happening across marketers. Apart from the day-to-day work exposure, students are using AI a lot.

The very fact that ChatGPT has the word ‘chat’ in it - it denotes interaction. It puts across clearly about how prompt AI is when resolving queries. In a way, it is AI but it is about seeing it from the lens of humans and how they are dealing with AI. The way we chat on WhatsApp, is what is expected out of ChatGPT as well. We need to maintain brand hygiene and also have to understand and manage the usage of AI in our everyday life. Gen AI is still in its early stages, and still needs to get past surpassing human intelligence which is still about 20 years away. The need of the hour is where we wish to use it and how much we want to use it. In a gist, AI is all about data – what you feed in as an input, and accordingly the output is defined by the algorithm machine learning processes.”

He adds, “Human intervention is required. There are tools which are used on a day-to-day basis, but we can’t avoid human interference at this stage as it is too early for AI to give a desired output.”

Yadav cites the example of the way Google Gemini launch faced a backlash due to the cultural nuances which were missing in it and mentioned that this is where the scope and gap in AI is currently.

Sarvesh Tiwari, Chairman, Public Relations Society and Founder PR Professionals explained that in today’s times, Gen AI is not to be missed. “When it comes to authenticity, any tool which has the possibility of posing as a danger, you tend to become more responsible and cautious. When the responsibility factor comes in, you have to decide and design on certain factors and keep a lot of things in mind. In a larger scheme of things, when it is about catering to the masses and about creating a larger impact, even small errors could lead to severe consequences.”

He emphasised on the characteristics of AI wherein its usage could prove beneficial for amplification, as well as speed and for large amounts of data.

Speaking at the Momentum Conference 2024 - Unravelling the next chapter in modern marketing, which took place on 3 July, 2024 in the capital under the theme – ‘The Great Creativity Reset’, Tiwari underscored the pros and cons of the usage of AI, highlighting the impact of its usage.

Neha Kalra

BW Reporters She is the Senior Editorial Lead at Businessworld and majorly covers pieces on advertising, marketing, branding and experiential marketing. She writes closely for BW Marketing World and Everything Experiential.