ChatGPT and Generative AI are two powerful new technologies that are transforming how media and advertising works today. Generative AI, also known as AI-generated content, is able to instantly generate content that is clear, engaging, and grammatically correct – but also can be filled with factual inaccuracies and biases. This has made adoption of the technology challenging as US adult don’t fully trust AI-generated content, with only one-fifth believing that such content would be error-free. Despite this, US consumers remain confident that generative AI will be around for the long-term with 52% of respondents to a recent Morning Consult survey expecting the technology to remain in use.
It is clear to see that generative AI will have a major impact on the media and marketing space regardless. Business owners can eliminate the need for intermediate agencies as platforms could use generative AI technology to create business ads themselves. Publishers could potentially be freed from their relationship with search engines too, as generative AI could efficiently summarize reporting and synthesize press releases. Generative AI could even revolutionise search advertising economics with definitive responses to search queries.
However, to properly adopt generative AI, marketers and advertisers will have to be well-prepared. Training data and assets must be ready for use and understanding how to spot potential factual inaccuracies or biases will be a learning process. With the products of ChatGPT, an AI product offered by Microsoft, burning-out content creators may soon see some reprieve. This technology is designed to improve customer support through enabling customer reps to handle more conversations with less supervision – allowing companies to improve customer service while avoiding staff burnout.
The question of trust will likely remain a stumbling block in the adoption of AI-generated content, so it is important to continuously monitor public sentiment. Knowing the implications that ChatGPT and Generative AI will have on the media and advertising industries is key to future-proofing strategies, and understanding the sectors’ future directions is essential for success.
