| Main question | What impact / possibilities does generative AI have on the creative sector and marketing? |
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| Method used | Trend analysis |
| Date | 13-02-2023 |
| Link to document | Research 2: Trendanalyse Generative AI |
Figure 1: Generative AI market growth in 2020-2023 (Grand View Research, 2022)
The market for the use of generative AI tools will greatly expand over the coming years. Reportlinker announces in their report that between 2022 - 2030 the market for generative AI is expected to expand at a CAGR (Compound Annual Growth Rate) of 34.6%. Meaning that in 2030 the market size for generative AI will reach USD 109.37 billion. (Grand View Research, 2022) Leading into big companies such as Google, Microsoft, Amazon and more giants to invest in these tools making them even more sophisticated and accessible for the public.
In the creative/marketing industry there will be big changes in the way traditional advertisements are made and will even look like. Some advertisement agencies are experimenting with using generative AI in their campaigns and are very successful. An example of a successful campaign is Messi Messages where a deepfake technology is used to create personalized messages. (Lays, 2021) This is one example of how traditional advertising will change into more personalized content.
Not only in the advertising is generative AI interesting but also to modernize workflows. Generative AI can help speed up the creative process in almost every phase. From inspiring new ideas, actually visualizing, delivering and distribution of this media. It can all be done faster with the help of generative AI.
To conclude, this research shows that generative AI is predicted to expand at an enormous rate. Leading into more available advanced tools for fast content creation. The results mentioned that advertising agencies have already achieved success with personalized advertisements campaigns when using generative AI, demonstrating the relevance for GroupM. To stay competitive, it is crucial to be early adopters into utilizing this technology.
Generative AI offers benefits other than personalized campaigns as it can also optimize workflows. It is applicable in every phase of the creation process and can automate repetitive tasks. Leading into saving time and reducing cost for GroupM.
To summarize, generative AI is having a big impact on the marketing industry as it can optimize workflows and it shows new ways on how to make advertisements better for people. However it is important to look at possible problems that will arise when using generative AI for a company such as GroupM. What possible harm can it do? Are there already guidelines within GroupM for the use of generative AI?
