Google is taking big steps to stay in the race of generative AI and keep up with Microsoft and Amazon in the AI gold rush. A recent report by TD Cowen published that generative AI software revenues will rise to $81 billion by the year 2027, from under $1 billion in 2022.
Jerry Dischler, the head of the products that drive the tech giant’s $224 billion annual ad revenue, recently told Insider how new generative AI products from Google could be beneficial for marketers. Google will enable advertisers to improve its Performance Max solution with the help of generative AI to input their website into a chatbot, which will generate copy and image assets. In addition, a tool will be released to let advertisers upload a product image and use generative AI to create variants. These new search ad formats are still in a testing phase within the Search Labs forum.
Rohan Ramesh, the VP of data science at the ad agency Known, believes that the implementation of generative AI in the ad sector may be equivalent to the desktop-mobile shift. He suggests that even advertisers without sophisticated skillset may be able to use these tools to generate a baseline of sophistication.
Once the testing phase for these tools are completed, searches may use AI-driven advertising to find relevant information more efficiently. Google’s ability to grab a piece of the generative AI market will open up more opportunities for marketers and search advertisers.
Google is a multinational technology giant that has been around since 1998. In addition to their digital advertising services, they also provide services such as the Google Cloud Platform and Google Assistant along with products like the Google Pixel smartphone and Nest Smart Home devices.
Jerry Dischler is the VP of Product Management for Google Ads, the system used to manage Google’s different ad platforms. Before joining Google in 2012, he was a VP at Yahoo and a Product Manager at Netscape. He holds an MBA from UCLA and an MS in Information Systems and Computer Science from Stanford.
