Watch out for Generative AI in 2023 | WARC | The Feed

Watch out for Generative AI in 2023

Generative AI is a phrase we’re going to be hearing a lot more, not just because of its role in ‘deep fakes’, but because of its potential for cost savings and hyper-personalisation in advertising.

It’s one of the tech trends highlighted in Wavemaker’s recently launched Growth Trends 2023 report.

What is Generative AI?

Generative AI uses artificial intelligence and machine learning to create new digital content (this can be text, video, audio, imagery) with little human intervention beyond a starting input. The output can be believably real or consciously stylised. 

Why it matters

With the tech giants all involved in the sector, Generative AI is about to hit the mainstream. Already it is facilitating new modes of creative thinking and enabling the development of digital assets without long lead times or high production costs.

Ultimately, the report suggests, every digital touchpoint could be automatically customised using Generative AI in response to consumer needs and signals. 

Takeaways 

• Using Open AI tools it can take just seconds and cost as little as three cents to generate an image – offering significant time and cost savings for brands and agencies. 
• Gartner estimates that by 2025, 30% of all outbound marketing messages from large brands will be from Generative AI.
• Spending on AI is growing and the global generative media market is expected to reach almost $400m by 2025.

Sourced from Wavemaker