If 2023 was hailed as the Year of Wonder, then 2024 is shaping up to be the epoch of Plan AI. We are on the cusp of an AI revolution that promises to redefine the landscapes of marketing and media agencies with unprecedented scope and scale.
This year’s Consumer Electronics Show (CES) underscored this shift, showcasing innovations that hint at a future where AI’s integration into our personal and professional lives is not just imminent but integral. For instance, the CES 2024 Innovation Award in the Smart Home category went to Motion Pillow, a smart pillow that uses AI to tackle snoring problems and improve sleep quality. Its AI Motion System detects snoring and adjusts airbags to lift the user’s head, opening their airway.
According to the latest McKinsey Global Survey, generative AI (gen AI) tools have seen explosive growth, with one-third of surveyed organisations already integrating them into at least one business function, including utilisation by company leaders. Additionally, 40% of respondents plan to increase their overall investment in AI due to advances in gen AI.
Yet organisations are in the early stages of managing related risks, with less than half actively mitigating the risk they consider most relevant: inaccuracy.
Fifty-four percent of global consumers use AI daily, and that number is expected to increase significantly this year. By the end of 2024, many of us will likely have an AI-enabled assistant as part of our everyday work and life.
Though gen AI is still nascent, experimentation is common, with respondents foreseeing its industry-transforming potential across regions, industries, and seniority levels. Seventy-nine percent of respondents have some exposure to gen AI and 22% use it regularly. The European Commission projects a €105 billion cumulative impact by 2030 due to AI’s transformative potential in various sectors.
While current stats indicate modest AI adoption, the expected surge in usage promises a transformative period for industries embracing AI’s potential. Publicis Groupe is at the forefront of this revolution, investing $326 million in AI over the next three years to innovate its disciplines in creative, media, software, operations and insights, while also ensuring that these technologies are used responsibly to create value for clients and society.
At Zenith, we’re integrating AI into our products to optimise operations and offer cutting-edge solutions to our clients. Our recent AI Day provided valuable insights, highlighting a growing enthusiasm for AI’s potential in driving innovation and results, and reflecting a shared vision of a future where AI’s role in shaping marketing strategies and consumer interactions is both transformative and invaluable.
Seven AI Marketing Technologies and Trends to Watch in 2024
This year will mark a significant leap in how AI is utilised, transitioning from experimental phases to full-scale implementation across various marketing areas, from content creation and audience targeting to ethical considerations and user privacy. Below are some of the trends we expect to see as artificial intelligence continues to advance both in terms of sophistication and usage.
1. Predictive analytics
Real-time analytics powered by AI facilitate quicker, data-driven decisions, including campaign performance monitoring and real-time strategy adjustments for optimal results. AI’s ability to analyse large datasets is pivotal, enabling marketers to better anticipate market trends, understand customer behaviour, and personalise marketing strategies effectively.
Technologies like machine learning and data mining allow agencies to forecast trends and behaviours with astonishing accuracy, enhancing customer engagement and ROI.
The unprecedented scaling of AI is driven by the exponential increase in data availability and computational power. Publicis agencies leverage AI to analyse vast datasets in real-time, identifying previously undetectable patterns and trends, enabling marketers to anticipate consumer needs with unparalleled precision.
Additionally, AI-driven tools are integrating across all marketing stages, refining predictive analytics’ accuracy, and revolutionizing agencies’ audience interaction and understanding.
2. Personalisation at scale
AI’s data processing capabilities transformed marketing, enabling hyper-personalised experiences. AI algorithms analyse vast datasets to identify individual preferences, behaviours, and engagement patterns. For instance, personalised email marketing campaigns now leverage AI to tailor content, offers, and messaging based on the recipient’s past interactions, purchases, and even predicted future behaviour, ultimately enhancing engagement and loyalty.
AI-driven personalisation extends to web experiences, dynamically optimising content with real-time data. For example, e-commerce platforms adjust products displays according to browsing history, search queries, and social media activity. Netflix’s recommendation engine exemplifies this, using AI to analyse viewing habits and rated content to predict what a user is likely to enjoy watching next, enhancing content consumption and subscription retention.
3. Chatbots and customer interaction
Chatbots and virtual assistants use natural language processing (NLP) to provide seamless, personalised customer service interactions, addressing inquiries based on purchase history and preferences. AI-driven conversational agents offer intuitive, human-like interactions, crucial for enhancing engagement and service quality. This shift is not just a technological marvel but a strategic imperative for agencies focused on elevating customer service and engagement.
Recent statistics show the rapid growth of the chatbot market. According to a report by Grand View Research, it is expected to reach USD $1.25 billion by 2025, growing at a compound annual growth rate of 24.3%. This surge demonstrates companies’ increasing reliance on conversational AI for efficient customer service.
Studies reveal chatbots can handle up to 80% of routine queries, significantly cutting response times and costs while allowing human to handle more complex queries. Juniper Research estimates that chatbots will enable businesses to save more than $8 billion per annum by 2022, up from $20 million in 2017.
4. Creative enhancement
Creativity will remain the soul of marketing, but AI will strengthen it. Tools for AI-powered content generation, graphic design, and video production like Sora, DALL-E, Midjourney, and Synthesia allow creatives to focus on the innovative ideas while AI handles routine tasks.
This technology is at the forefront, revolutionising content creation across mediums. From crafting compelling written content to generating unique visual designs and video content, generative AI enables the production of high-quality content at unparalleled pace.
5. Ethical considerations and privacy
With great power comes great responsibility. The ethical use of AI and the protection of consumer privacy are paramount. Marketing agencies are adopting transparent practices and ensuring compliance with evolving data protection laws.
6. AI in SEO
AI algorithms are now integral to SEO, enhancing its dynamism and efficacy through AI-driven keyword research, content optimisation, and deciphering search engine algorithms for better page rankings.
AI’s real-time data processing enables agile SEO tactics, helping brands adapt to changing search trends and maintain a competitive digital presence. As voice-assisted and image search technologies advance, AI plays a critical role in optimising content for these formats, creating new opportunities to reach audiences.
Pinterest’s visual search tool, Lens, exemplifies this trend, allowing users to photograph objects for AI-driven identification and related pin suggestions, enhancing user experience and brand discovery in a contextually relevant manner.
7. Emotion AI for deeper insights
Emotion AI, or affective computing, can better understand and respond to customer emotions. Facial recognition detects subtle expressions like happiness or frustration, while voice analysis algorithms assess tone and pitch during customer service calls or interactions with voice-activated devices. This sophisticated analysis offers brands insights into how consumers emotionally engage with their content, products, or services, which enables tailored strategies for enhanced customer engagement and loyalty.
In 2024, AI is not just a tool but a partner in the marketing journey. As we navigate the year ahead, it’s vital for agencies to adapt, innovate, and responsibly harness the potential of AI. The future of marketing is here, and it’s intertwined with the advancements of AI.
Written by Ricky Chopra, Global Business Director and Head of Zenith’s AI Taskforce.
Sources
(1) New year, new models: AI predictions for 2024 – CSIRO. https://www.csiro.au/en/news/All/Articles/2023/December/AI-predictions-2024.
(2) 10 Transformative AI Trends Affecting Enterprises in 2024. https://appian.com/blog/acp/ai/ai-trends-enterprises-2024.html
(3) Can we embrace AI and journey towards a brighter future?. https://www.weforum.org/agenda/2023/09/can-we-embrace-the-ai-revolution-and-journey-towards-a-brighter-future/.
(4) The Future Of AI: 5 Things To Expect In The Next 10 Years – Forbes. https://www.forbes.com/sites/forbesbusinesscouncil/2022/05/05/the-future-of-ai-5-things-to-expect-in-the-next-10-years/.
