The rise of artificial intelligence in media has been a focus for several years. But the use of AI in advertising is just getting started, and a new study suggests it will influence the space in the years to come.
GroupM has released its This Year Next Year forecast. In its projections, it believes that AI will be a prominent tool in advertising optimization. By the end of 2024, it forecasts that 69.5% of all advertising revenue will be AI-aided, while that number is expected to grow to over 90% by 2029.
The company also projects that AI-generated content in advertisements will account for 1.6% of all commercials in 2024. GroupM believes that figure is likely to grow to 10.7% by the end of the decade.
While the organization forecasts an increase of $365.9 billion, up 5.8% compared to previous projections, it shows a 1.5% drop in revenue for terrestrial radio, according to RadioInk.
