Generative AI is revolutionizing the digital marketing sector. What you need to know / digital information world

Published by Amirshop on May 25, 2023

The stunning rise of ChatGPT 3 has revolutionized numerous markets around the world and with the recent release of ChatGPT 4 these disruptions are likely to become even more apparent. One of the many industries facing tremendous change due to the presence of Generative AI is marketing, and there are several ways you can make your advertising campaigns more effective than they otherwise would have been. A report published by Goodfirms Highlights some of the prevailing trends in this area.

With that all said and now done, it’s important to note that around 45.3% of companies plan to start using generative AI like ChatGPT in the future. This will lead to rapid growth in the market, with a staggering 34.6% CAGR forecast for the remainder of the decade.

Much of this growth is coming from the media and entertainment industries. Approximately 41.7% of the revenue generated by this AI came from this niche and the growth rate for this specific revenue stream is expected to be around 33.9% CAGR within the next eight to 10 years.

While this is the case, 55.7% of companies still say they are unsure of the benefits generative AI can bring. While 17.4% have already started using Generative AI, 29.8% consider it a form of spam. This raises the issue of compliance, as well as the possibility of generative AI being used for misinformation campaigns and other malicious activities that can cause tremendous damage.

Regardless of these concerns, generative AI offers several advantages that nonetheless make it an enticing prospect for various marketers. 81.8% of people in the advertising and marketing industry said it helps them reduce the time it takes them to get a campaign up and running, and 74.1% said it helps them scale their campaigns easier.

On the one hand, generative AI can create usable content on the fly. This saves time that would otherwise have been spent on a lengthy creation process. Even if you don’t rely exclusively on AI for all of your content, you can still use it to develop clues and ideas that can then be expanded upon.

The fast pace of Generative AI increases scalability by offering a rich volume of content, and recent advances have made that content much more personalized.

A majority of marketers, 58.2% to be exact, agreed that using generative AI allows them to create better campaigns for less money. This increase in cost effectiveness could greatly expand a marketing company’s ability to meet the needs of its customers when all aspects are considered and considered.

This is closely related to the benefits of content creation mentioned above. Hiring developers can be a costly endeavor, but generative AI gives markets the power to take matters into their own hands. The content may not be of the same quality, but it won’t be long before generative AI can create works of art on a par with the best human artists.