Singapore – With almost 63% of marketers already using it, generative AI is expected to shape the industry in the coming months, a report from dentsu revealed.
According to the new dentsu report, generative AI, together with monetization and integrity economics, are among the rising trends set to transform the media industry in 2024 and beyond.
Around 63% of marketers have said they’ve already started engaging with generative AI in their company. With this, the report predicts that technology will take centre stage, covering areas such as creativity, media planning, and production.
The report showed three trends in generative AI. These trends are the rise of generative search, the augmentation of human creativity in fields like content and image development, and generative optimisations, where generative AI simplifies advertising production, targeting, and effectiveness.
The dentsu report also revealed key predictions pointing to the race to monetisation between tech platforms. These tech platforms are expected to double down on becoming more protective of their data, understanding their users, and stepping up their advertising offerings as they continue to monetize their services.
This megatrend incorporates trends like a world of lookalike apps where platforms become progressively similar. Also part of these trends are the platforms having a more defensive stance on their data, doubling down on people intelligence, and expanding advertising to new areas for most platforms.
Lastly, the latest report also showed trends leaning towards integrity economics, where the focus is on brands and their sustainable contributions to society. Brands that can build more carbon-efficient, diverse, and safe online spaces for people and other brands may achieve more success.
According to the report, this trend is highlighted by media consumption becoming increasingly diverse and personal, new developments in brand assurance that create safer environments for both people and brands, and brands implementing carbon media efficiency strategies.
The latest report highlights the key trends within each of these three areas of interest and provides suggestions on how brands can capitalise on them in the short and long term.
Peter Huijboom, global CEO for media international markets at dentsu, said, “Our own client research has shown that more than 60% of marketers have said they’ve already started engaging with generative AI in their company. So, in our dentsu 2024 Media Trends report, it was important for us to identify and introduce the additive advantages, trends, and technologies to help them progress in this space.”
Huijboom continued, “When we bring our experts together from our media agencies and from all around the world to create these predictions, it is essential that we showcase the most pressing topics and the best opportunities for the future. This report does exactly that, in a convenient and easily accessible way.”
Speaking on the report, Anita Kotwani, CEO of media for South Asia at dentsu, also said, “Artificial intelligence (AI) is not just a buzzword, but a game-changer for the media industry. It has the power to automate, optimise, and personalise various aspects of media planning, buying, and execution. It can also unleash the creative potential of media professionals by enabling them to generate new and engaging content, formats, and experiences for their audiences. This is what we call generative AI, and it is the focus of our 14th edition of the Media Trends Report.”
“At dentsu, we take pride in our insightful expertise that keeps us ahead of the competitive curve. We are always exploring new ways to leverage AI for our clients, partners, and employees. The Media Trends Report deep-dives into one of the most disruptive technologies, AI, taking us through the many trends that serve generative AI on a platter. It aims to enable readers to reshape their work dynamics, tapping into the untapped potential through its many facets,” Kotwani added.
