Artificial intelligence (AI) and operational machine learning are set to revolutionize various fields, including advertising, public relations, and content creation, according to industry experts. In India, these advancements are expected to have a significant impact on the digital advertising industry, which is valued at approximately $8 billion.
Machine learning company Moloco’s General Manager, India, Siddharth Jhawar, explains that operational machine learning can transform the effectiveness of ads by running thousands of mini experiments to determine which ad creative resonates with different types of users. This is particularly important in India, where multiple languages and diverse cultures exist.
Google recently announced new campaign workflows and the use of Learning Language Models (LLM) and generative AI in its advertisements. Companies like Myntra, Samsung, HDFC, and Tata AIG have already experienced up to 18% growth in their advertising efforts through Google’s AI technologies.
Businesses can leverage deep neural networks and machine learning to increase revenue using first-party data while ensuring data privacy and personalization.
Moloco has partnered with gaming companies, a streaming app, and an e-commerce player to monetize their platforms and enhance revenue returns. With their use of machine learning, they have successfully served ads to 150 million users, expanding their operations with local offices.
In the field of public relations (PR), communication software-as-a-service provider Wizikey has launched Imara, an AI Avatar that utilizes generative AI to process news data for insights.
Archana Jain, Founder and Managing Director of PR Pundit, emphasizes the transformative potential of AI in PR. By analyzing large amounts of data quickly and efficiently, AI enables PR professionals to make better-informed decisions and develop more effective strategies. AI also streamlines basic tasks such as media coverage tracking, leading to greater efficiencies.
While there have been concerns about AI’s potential to replace jobs, Jain believes that the PR industry needs more talent than is currently available. Instead of eliminating jobs, AI will complement and facilitate the overall growth of the PR industry.
Reports have surfaced about Google testing a product that generates news items from ingested information. This product aims to assist journalists and has been showcased to prominent media organizations.
Content creator Ankur Warikoo believes that AI will be the primary source of content generation in the future. A McKinsey study further supports this claim, suggesting that marketing and sales will be sectors most affected by the revenue effects of AI.
In conclusion, the advancement of AI and machine learning is poised to transform various industries in India. From digital advertising to PR and content creation, these technologies have the potential to enhance effectiveness, increase revenue, and streamline processes. While concerns about job displacement exist, experts believe that AI will work in tandem with human talent, leading to industry growth.
