New Delhi: What started in 2022 as just a chatter, AI is now a necessity that cuts across sectors and spaces. The impact of AI on media has been prolific. From content to media buying, AI is taking on mundane tasks in the industry.
Sharing his perspective on the impact of AI on media, Vikram Sakhuja, Group CEO, Madison Media, and OOH at Madison World, took to the stage at the 19th India Digital Summit and said, “The principles of marketing will remain pretty much the same. What's going to change and what's going to transform are the methods of marketing.”
During the session, Vivek Malhotra, Group CMO and COO - Consumer Revenue, Marketing, and Strategy at India Today Group, raised the question about the algorithms that publishers can develop to facilitate media buying and selling as advertising media races to hit the $ 1 trillion mark.
Sakhuja replied, “You can't simply write an algorithm for AI; it's the data that is fed into the system, and the program itself learns and improves over time. Currently, companies like Google are developing advanced AI applications using this data, and various agencies are creating additional technologies to enhance these AI engines further. These AI engines will continue to improve themselves but what you can do is feed better data and more data to the already existing engines and make the predictions better. You can improve your AB testing and plan your media spends based on that data.”
Moving further Malhotra pointed out the concern about whether it's possible to establish a deep connection with consumers through these algorithms.
Sakhuja replied to the question with a Yes and said, “What Meta has started doing is broad targeting. For example, when you launch a trailer and people see and share it, it's a strong indicator that the product is gaining traction. By sending out a broad targeted message and analyzing how many people share it, you can identify the effectiveness of AI in reaching your audience. This approach allows you to bypass conventional targeting methods and directly identify the people who are engaging with your content.
Companies like Google and Meta are at the forefront of this strategy, using AI to send broad messages and then analysing the signals to refine their targeting. This method leverages AI's ability to process vast amounts of data and identify patterns, establishing a deep connection with consumers through these algorithms.”
Achieving scale using AI
Sakhuja spoke of how brands can achieve scale when it comes to their marketing using AI.
Providing an example of how Cadbury achieved scale using AI, Sakhuja said, “During Diwali, we had Shah Rukh Khan promoting local neighbourhood grocers through lip-sync videos, encouraging people to buy their festive supplies from nearby stores. For instance, if you wanted to celebrate Diwali, you could visit Sharmastore, Sai Stores, or Mukherjee Stores, depending on your location. Each of these stores had customised offerings, all powered by an AI engine to enhance the shopping experience. This approach not only personalised the shopping journey but also supported local businesses during the festive season.”
Can legacy brands hop on the AI bandwagon?
Using AI innovative marketing has always been typecasted to new-age brands that are nimble in their approach, so, Malhotra propped up the question if legacy brands can also integrate AI in their marketing strategy.
Sakhuja had a simple response to the question and he answered by saying “of course.”
Elaborating his thought further, he said, “AI is an integral part of our daily lives, from ordering food on Swiggy or Zomato to various other applications. If older generations pay attention, they'll notice AI's pervasive presence and realise its potential in marketing. Integrating AI into marketing efforts is achievable for anyone, as demonstrated by brands like Cadbury. It's all about understanding how to leverage AI effectively. By recognising AI's capabilities and thinking strategically, businesses can harness its power to enhance their marketing strategies and achieve remarkable results.”
AI and data validation
While using AI can help marketers greatly, AI requires data to function effectively and marketers will have to constantly collect data if they wish to make the best use of AI the data collected is not always authentic, sometimes it is “garbage in and garbage out.”
In simple words when unvalidated data data is fed to AI engines, they hallucinate or provide outputs that are not useful.
So, how can marketers solve this challenge, asked Malhotra?
To this, Sakhuja said, “AI is a powerful tool that requires careful validation checks to prevent issues like hallucinations and biases. In the medical field, platforms are being developed with filters to ensure data authenticity and prevent misinformation. The concern is that people might rely too heavily on AI, leading to a loss of human judgment. The key is to balance AI's capabilities with human oversight to ensure ethical and responsible use while addressing privacy concerns and potential biases.”