Almost nine-in-ten (87%) marketers view artificial intelligence (AI) as an essential part of their marketing strategy.
According to research from Scibids, a global AI builder for digital marketing, in collaboration with insight-driven research company Censuswide, AI has already become an almost unavoidable tech innovation for marketers.
Of the 252 UK-based senior brand marketers surveyed, 61% revealed they are already using AI to help deliver effective advertising, citing a belief that the technology facilitates privacy friendly campaigns that respect consumers and are less harmful to the planet by minimising data wastage.
The golden age of AI?
These findings have prompted the question, are we headed towards the golden-age of AI? Or has it already begun?
Almost three quarters (74%) of respondents expect their programmatic investment into the technology to grow in 2023, with average growth expected to be at least 30%. The technology is already being applied within digital advertising by 94% of respondents, predominantly for targeting, measurement and data application.
Use of AI for programmatic buying is lagging somewhat, having been incorporated by less than a quarter (24%) of brand marketers, outlining that plenty of scope remains for further adaptation of the technology.
Delay in use of DSP
Creating something of a contradiction, 92% of survey respondents claim to be well or fairly-well informed of the opportunities AI presents for customisation in their programmatic strategy, yet just over half (51%) believe they are making full use of demand side platform (DSP) customisation features.
A lack of budget, staff resources, and time were cited as the biggest blockers to fully investing in AI as a tool for DSP customisation, potentially leaving a gap in the market for brand marketers to exploit.
Matt Nash, UK Managing Director at Scibids, said: “Digital marketers are increasingly embracing and enhancing their use of AI as a tool to overcome the new hurdles and challenges they are facing. This research also showcases that while the industry has come a long way in terms of utilising AI, there is still plenty that can be done to ensure further stability and growth in the future.
“AI, particularly custom algorithms, is vital as brands seek to drive ROI across programmatic-bought paid media and increase sales and brand equity. Indeed, programmaticity is here to stay, but only by embracing AI's Golden Age can its true potential be unlocked.”
Key to future development or future disaster?
It's important to note that not everyone is so bullish on AI and although it possesses the capabilities to streamline marketing practices and drive ROI, many experts at the forefront of its development have warned of the dangers the technology presents.
The rapid expansion of AI prompted thousands of tech leaders, including Apple co-founder Steve Wozniak and Twitter CEO Elon Musk, to sign an open letter published by The Future of Life Institute in March 2023 urging governments to enforce a 6-month AI-development moratorium, warning of the tech’s potential “risks to society and civilisation” if expansion continues to go unchecked.
One thing is certain however, AI is here to stay and marketers will need to make up their minds on how they plan to use it.