As AI continues to become more advanced, some agencies are exploring its potential for media buying and planning. Nuno Andrade, Chief Innovation Officer at performance focused-agency Media Culture is currently testing AI chatbot, ChatGPT, on media buying queries. The results have been impressive as the AI managed to nail down four out of five top stations based on one client example – a math tutoring service targeting women 25-54 with children. According to Andrade, the AI can potentially help planners save a lot a time by eliminating all the research required for media planning and can also be used to train agency coordinators.
Similarly, Stagwell agency Code and Theory is taking the generative AI a step further by partnering with Oracle to build new AI capabilities. The company is focusing on building an infrastructure and framework for clients with its long-term strategy and some of the initial sectors that they are focusing on are financial, automotive, hospitality and retail industry. Dan Gardner, Executive Chairman and Co-Founder of Code and Theory believes that generative AI and creative enablement can go a long way in solving the digital transformation challenge for many organizations in the CPG, finance, and health care sectors.
The agency network Media.Monks is also exploring how AI can be used across platforms for social media and other content applications. As per Amy Luca, Evp Global Head of Social, AI can be used to do rapid A/B testing and also reduce the friction points which can help in moving faster and better.
ChatGPT can be an effective tool for media buying and planning but it is not capable of replacing humans yet. The accuracy and reliability of the AI depend on the specifics of the query; meaning the more broad the ask is, the lower the accuracy. Additionally, the AI cannot provide sources for its answers. Despite the limitations, more AI training and advancements in the technology can potentially improve its effectiveness.
Havas is a holding company which every year issues its Meaningful Brands report. This year, the survey catered to 91,000 people from 10 markets globally. The top-line findings showed that people are assessing brands through the prism of how they are personally affected by them and the survey was dubbed the ‘Me-conomy’.
