My image created on Midjourney
It's fascinating to see how the introduction of AI, such as ChatGPT 3.5, has brought about significant changes and opportunities for brands and agencies. The ability to leverage AI in media campaigns has the potential to revolutionize the way we create and optimize content. With the help of AI, data-driven insights can inform the development of creative copy and enable dynamic optimization for better customer engagement. Moreover, AI technology can facilitate the creation of more inclusive and emotionally resonant imagery, tailored to specific audiences and adaptable to different budget constraints.
It's crucial for brands and agencies to actively participate in these conversations and embrace experimentation in this evolving landscape. By being proactive, they can avoid being left behind in the early stages of development and miss out on the potential benefits. While current discussions predominantly revolve around creative copy and imagery, it's evident that further advancements will extend into the realm of video. Initially, these innovations may focus on shorter durations like 15 to 30-second spots, but it's inevitable that they will progress towards longer formats.
As AI continues to advance, it's even conceivable that licensing agreements for the use of on-screen talent's likenesses in deep learning-based face synthesis, colloquially known as "deepfake," will become part of these platforms' offerings. This could enable the creation of highly realistic and tailored advertisements extending beyond the traditional time constraints.
The key takeaway is that embracing AI-powered technologies and staying engaged in the ongoing developments will be instrumental in thriving and adapting to the evolving landscape of media and advertising.
Marketers across various industries should indeed embrace and experiment with Generative AI and other forms of AI. Recognizing that we are still in the early stages of AI's impact on our lives, it's essential for brands to proactively explore the potential applications and benefits it can bring.
Generative AI, as one facet of AI, holds significant promise in enriching connections with consumers and enhancing marketing efforts. However, it's crucial to keep in mind that AI technology is continually advancing and evolving. New forms of AI will emerge, presenting even more opportunities and challenges for brands.
To provide some context regarding the progression of Gen AI, we can draw a parallel to the development of Internet connectivity. Just as we witnessed the shift from dial-up to broadband to WiFi, we are currently in the early stages of Gen AI. For instance, when considering the penetration of dial-up in US households in 1997 (18%), and comparing it to the usage of chat GPT today (with only 14% of Americans reporting usage), we can reasonably draw a comparison and say that we are at a similar stage as dial-up was in 1997.
This highlights the fact that there are still numerous advancements, implementations, and integrations yet to be conceived or explored in the field of Gen AI.
The most important chart on Gen AI on the internet :)
By embracing AI technologies early on, marketers can gain a competitive edge, stay informed about the latest developments, and establish best practices within their organizations. This includes seeking out partnerships with AI experts, staying updated on industry insights and trends, and cultivating talent with AI expertise.
Getting involved in AI experimentation and learning allows brands to understand the capabilities and limitations of AI, discover novel ways to engage with consumers, and deliver personalized experiences. By staying ahead of the curve, brands can navigate the future landscape of AI with confidence, ensuring they are well-prepared to leverage emerging technologies effectively.
The innovation cycles around Generative AI will be significantly compressed due to various factors – this will not be like what we experienced with the launch of the Internet and Web 2.0 (Social and Mobile):
Technological Advances: Advancements in computing power, cloud infrastructure, data storage, and networking capabilities provide the necessary foundation for accelerated development and deployment of Generative AI technologies.
Agile Development: Agile methodologies and iterative development processes allow for quicker coding, testing, and user interface (UI) iterations. This enables faster turnaround times in developing and refining Generative AI models and applications.
Open-Source Collaboration: The open-source community plays a crucial role in fostering collaboration and knowledge sharing. Open-source frameworks and libraries provide developers with access to a wealth of resources, reducing the time required to build and improve Generative AI models.
Intense Competition: The competitive landscape drives innovation and forces companies to stay ahead of the curve. The pursuit of capturing audiences and the fear of missing out (FOMO) motivate organizations to continuously push boundaries and release cutting-edge Generative AI solutions.
Consumer Expectations: Consumers now expect seamless integration of AI-powered features and intuitive user experiences. This demand for product integration and ease of use drives companies to innovate rapidly and deliver Generative AI solutions that meet these expectations.
Unprecedented Funding: Generative AI has attracted significant investment from corporations, venture capitalists, private equity firms, and even sovereign funds. This influx of funding provides resources and support for research, development, and commercialization of Generative AI technologies, fueling the pace of innovation.
Collectively, these factors create a dynamic environment where technological advancements, collaborative efforts, market competition, consumer demands, and robust funding converge to compress the innovation cycles around Generative AI.
Ultimately, as AI continues to shape our world, marketers must be proactive, adaptable, and open to exploring new possibilities. Embracing AI-driven technologies and integrating them into marketing strategies will help brands create meaningful connections, drive innovation, and stay ahead in an ever-evolving digital landscape.
So be proactive and boldly go where no brands have gone before!*
* You know I had to squeeze a Star Trek reference in there somehow.
