Transformative Potential of AI and Operational Machine Learning
The communication sectors, including advertising, public relations, and content creation, are on the cusp of a revolution, thanks to the transformative potential of artificial intelligence (AI) and operational machine learning. According to industry experts, these cutting-edge technologies, like generative intelligence and machine learning, are set to make a significant impact on the Indian digital advertising industry, valued at around USD 8 billion (about ₹66,142 crore).
Operational Machine Learning: Paving the Way for Effective Ads
Gone are the days of relying on intuition alone for ad effectiveness. Siddharth Jhawar, General Manager of Moloco in India, emphasizes that operational machine learning can revolutionize the digital advertising landscape. By running thousands of mini experiments, this technology can determine which ad creatives appeal to specific user segments. This holds particular significance in India, given its diverse linguistic and cultural landscape.
Google’s AI-Powered Advertising Tools
Google, a frontrunner in AI adoption, has introduced advertising campaign processes and automatic ad creation utilizing Learning Language Models (LLM) and generative AI within Google Ads. Companies like Myntra, Samsung, HDFC, and Tata AIG have witnessed impressive growth rates of up to 18% through the use of Performance Max, a Google advertising tool that leverages AI for bidding, budget optimization, audience targeting, creative development, and attribution.
Unleashing the Power of Deep Neural Networks
Jhawar points out that companies can boost revenue using first-party data by leveraging deep neural networks powering machine learning. This empowers businesses to uphold data privacy while delivering personalized customer experiences.
AI Avatar: Transforming Public Relations
In the realm of public relations and communications, AI is making its mark with Wizikey’s AI Avatar, Imara. Imara, driven by generative AI, analyzes news data to derive valuable insights. The adoption of generative AI in communication operations is gaining traction and sparking discussions within the workforce, with PR professionals ready to embrace the ongoing transformation.
PR’s AI-Driven Advantages
Archana Jain, Founder and Managing Director of PR Pundit, emphasizes the need for PR to adapt to the AI revolution. AI enables rapid and efficient analysis of vast data, empowering professionals to make informed decisions and devise effective PR strategies. Additionally, AI facilitates the creation of tailored content for digitally-focused audiences, while streamlining media coverage tracking.
AI-Generated News Articles: Assisting Journalists
Google has reportedly been testing a product designed to generate news articles by processing ingested information. The tool aims to assist journalists and has been showcased to leading media organizations, signaling the increasing role of AI in journalism.
McKinsey Study: AI’s Revenue Impact
According to a McKinsey study, AI’s implementation has the most significant reported revenue impact on marketing and sales, affirming its transformative potential across various industries.
As AI and machine learning continue to reshape communication sectors, India stands at the forefront of embracing these cutting-edge technologies, ushering in a new era of efficiency, personalization, and innovation in advertising and public relations.
