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Companies And Marketing Agencies Steadily Adopting GenAI In Marketing!

By TD NewsDesk

TD NewsDesk

Updated on Mon, Aug 21, 2023

Overall Rating
Surf's up in the world of marketing!

In order to supercharge their marketing campaigns, businesses and agencies are jumping on the AI bandwagon. Let's ride on the new-age wave of AI and see how they're making their digital work simpler, faster and more engaging for audiences!

The ability of generative artificial intelligence to generate content using historical data has made it a topic of discussion in a wide variety of industries in the past year. So, marketing departments across businesses had anticipated that this technology will lead to more efficient and versatile product promotion at a lower cost.

Reuters spoke with executives from two major consumer goods businesses and the world's largest ad agency, WPP, who expressed concern that artificial intelligence (AI) might fundamentally disrupt the way advertisers bring items to market.

Unlike other forms of AI, which are limited to categorizing and identifying data, this technology may be trained to generate what appears to be unique text, images and videos.

Executives at companies including Nestle and Unilever, two of the world's largest advertisers, say they are experimenting with generative AI tools such as ChatGPT and DALL-E to reduce expenses and boost output in marketing-oriented activities.

Statista forecasts that the market for generative AI in advertising will grow from its current $1.9 billion in 2022 to $22 billion by 2032, so this is in line with their expectations.

WPP, one of the largest advertising firms, is using generative AI in campaigns for clients like Nestle and Oreo manufacturer Mondelez, according to CEO Mark Read.

According to Read's estimations, the cost savings might be as high as 20 times. "Rather than flying a film crew down to Africa to shoot a commercial, we've created that virtually."

TechDogs-"Image Of Nestle Logo."
Artificial intelligence is being used by major businesses for everything from data-driven advertisements to customised sales presentations.

Let's keep reading to learn more!

In What Ways Are Businesses Utilizing GenAI In Marketing?

Advertisers have started employing the technology in their marketing collaterals and advertisements as lawmakers and philosophers argue over whether or not the content generated by generative AI models is on par with human ingenuity. (Add your thoughts in the comments section!)

Aude Gandon, Nestle's Global Chief Marketing Officer and a former executive at Google, said in an email statement that the company is exploring methods to use ChatGPT 4.0 and Dall-E 2 to promote its products.

According to Gandon, "the engine" is providing responses to campaign briefs that are "great ideas and inspiration that are fully on brand and on strategy." The team's imaginative members "further develop the ideas into content that will be produced," such as articles for the company's websites.

The Nestle representative Gandon further told Reuters that the company "keeping security and privacy top-of-mind."

Yet, there are worries about using GenAI in marketing – read on!

Where Do Their Current Worries Lie On Artificial Intelligence?

Unilever has its own generative AI engine that can write product descriptions for retailers' websites and digital commerce sites, the company announced. Unilever controls more than 400 brands, including Dove soap and Ben & Jerry's ice cream.

TRESemmé, the company's haircare brand, has been selling on using both the AI content generator and the automation tool. #Wow

However, according to Reuters' interview with Unilever's worldwide vice president of Go To Market Technology, Aaron Rajan said that copyrights, intellectual property, privacy and data are all major concerns for the company with this approach.

The company is working to ensure that its products do not perpetuate any inherent biases in the data they use, such as sexism or racism. "Ensuring that these models when you type in certain terms are coming back with an unstereotyped view of the world is really critical," he said.

TechDogs-"Image Of Unilever Logo."
Will AI-powered marketing be a game-changer or a glitchy disaster for major companies and agencies? Let us know your thoughts in the comments section below!

First published on Mon, Aug 21, 2023

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