May 26, 2024

Enterprise JM

Do the Business

What’s Next for AI and Marketing? Experts Weigh In

Since its launch in November 2022, ChatGPT, the chatbot developed by OpenAI, has been inescapable. Across the business world and society as a whole, people have been equal parts amused by its capabilities, excited for its potential and impressed by its iterations like GPT-4. They’ve also been fearful, with many speaking up about the technology’s safety, carbon footprint and ethical implications.

The fervor surrounding the new AI tool culminated in an open letter, signed by over 10,000 people at the time of writing, calling for a moratorium on AI development. Though the letter is unlikely to result in a full-scale shutdown of AI projects, it underscores the divide between proponents and skeptics—and at a time when geopolitical and economic uncertainties are injecting more caution into the next phase of AI’s evolution.

Given these realities, we’ve asked industry experts to weigh in on the use cases, possibilities and limitations of generative AI across their sectors of marketing and offer recommendations on how to proceed. The consensus among them, of course, is that along with the advantages come significant risks, and use of the technology without human oversight is irresponsible. It’s clear, though, that the industry is on the precipice of something big, not to be ignored and it’s best, for now, to tread carefully.

Media buying

From expediting research to streamlining ad buys, AI-based solutions can help marketers make the most of their valuable time and resources in day-to-day tasks. As with all AI, finding the right input to ensure a particular outcome is paramount. When conducting research through tools such as ChatGPT, marketers need to set clear parameters: Define how technical the responses should be, a clear subject matter and what the research will be used for. And don’t forget to fact-check.

More sophisticated AI solutions for ad campaigns, meanwhile, can assess which ad formats and mediums are best for achieving business objectives and optimize media buying accordingly. Marketers can specify that they want to purchase inventory that boosts engagement or conversions, for instance, and AI can use previous successes to inform future buys. —Sam Matharu, director of analytics, marketing science EMEA, Xaxis

Processes and workflows

We’re all being challenged to do more with less. But recession or not, success in media is all about the execution of the task at hand. Implementing automation and AI into existing processes and workflows should be seen as an opportunity for growth and expansion of skills.