Artificial Intelligence in Advertising
Investment in the development and promotion of AI technologies has reached significant sums, reflecting the growing interest and prospects in this field. Brands have spent at least $40 million on advertising AI-based products this year, and momentum is growing every month.
According to Digiday, companies developing #AI products spent more than $35 million on advertising in the third quarter of 2023 alone, an impressive 550% year-on-year increase. Approximately 6% of large companies are actively investing in advertising for AI-based products, while the remaining 94% are spending much less on this goal – just $4 million in the first nine months of 2023.
Prominent among the big new players in the advertising market are IBM and Salesforce, which are promoting their WatsonX and Slack GPT products, as well as startups such as cloud communications provider Dialpad. This data suggests that the proliferation and use of artificial intelligence is becoming an integral part of various sectors of business and society.
As investment in AI increases, major IT companies are increasingly focusing on incorporating the technology into their products. Meta CEO, Mark Zuckerberg, said that artificial intelligence will be the biggest area of increased investment. Sundar Pichai, CEO of Alphabet and Google, stated the company’s intention to continue working on generative search and experimenting with new ad formats.
However, the development and use of artificial intelligence raises questions about security, copyright and data privacy. States have begun to regulate the field in an effort to ensure “safe and trustworthy” AI. Recently, the G7 countries decided to endorse a code of conduct for companies developing AI, which promotes ethical AI practices.
The findings show that investments in artificial intelligence are paying off and continue to attract the attention of major players and startups. This confirms not only the relevance of AI development, but also its importance for the future of the digital world.