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As the generative artificial intelligence hype cycle cools down from the launch of ChatGPT last November, marketers’ expectations of the tech in 2024 will extend beyond simple chats to decoding client briefs and gathering real-time data on campaign performance, as well as cleaning up reams of unstructured data.
“In 2024, we will see gen AI used to create efficiencies in three main areas of marketing: enhancing the creative process, furthering personalization, and bringing greater precision and sustainability to the media buying process,” said Raja Rajamannar, Mastercard’s chief marketing and communications officer.
Here are key focus areas for the year ahead.
Brands build agent AIs
Loosely defined, agentic AI elevates gen AI beyond the chatbot to perform tasks on behalf of a person, mirroring the behavior of a real-world agent.
OpenAI launched its Assistant API and GPTs in November, letting developers create AI-based agents to understand queries and complete actions. Ultimately, this development will facilitate direct interactions between potential consumers and brands.
“These agents are like little minions who, based on your query, will come back with answers or complete them,” said Michael Liu, head of innovation for media company Carat.
Business models are yet to be worked out and are all new territory.
Glenn Derene, senior director of content strategy, Consumer Reports
Travel brands like Expedia or United Airlines, which already provide comparison services through third-party agents, will likely be early adopters of agent AI on their websites. Someone planning a holiday in Greece could use the gen AI agent to compare hotel and plane prices, check the weather, and convey preferences such as a desire to save money. Eventually, the AI agent would share a customized itinerary and complete the booking on their behalf.
This could open up new models for niche or specialized publishers, A travel publication with local information and user reviews contains rich source material for an AI travel booking and concierge service.
“Combine that content with an AI agent that customizes travel plans, and you can automate and book custom travel itineraries based on user preferences,” said Glenn Derene, senior director of content strategy, Consumer Reports. “However, business models are yet to be worked out and are all new territory.”
