AI Market in Media and Advertising Overview by Business Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast
Over the last few years, artificial intelligence (AI) has
shifted from being a branch of computer science to an everyday technology that
majority of consumers carry in their pocket daily, such as an Apple smartphone
with voice input Siri. The artificial intelligence technologies has been
gaining significant interest in the media and advertising industry in the
recent years. Although the applications for artificial intelligence in the
media and advertising business are still in infancy stage, there is huge
potential for the technology to shape the next generation media and advertising
sector.
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Machine learning already has a significant impact on the
advertising ecosystem. The best example for this is real time bidding (RTB), which
is buying or selling advertising space online in real time. Through artificial
intelligence, self-learning algorithms are used for running online campaigns
that enable advertisers to critically identify the most potential shoppers.
This further helps in deploying personalized advertisements to each shopper and
in taking the desired action.
The demand for artificial intelligence in media and
advertising industry has been increasing due to greater demand for rich digital
customer experience, worldwide. Media and advertising companies are focusing on
optimization of email and website communications by continuous learning from
user behaviour and actions. In addition, programmatic advertising is also
fueling the growth of the global artificial intelligence market in this
industry. Automated process of buying and selling advertisement inventory
through artificial intelligence is effectively connecting advertisers to
publishers.
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The trend toward effective voice based search technologies
has also added value to the market growth. Businesses are trying to bring next
generation input method in their product and services through artificial
intelligence. The widespread adoption of smartphones has let media companies to
include artificial intelligence technologies as a crucial part of their product
development lifecycle. Artificial intelligence provides a new competitive edge
to the media companies through contextual relevancy for connecting right people
to the right content at the right time and in the right way.
Globally, North America and Europe witness greater demand
for artificial intelligence solutions in the media and advertising sector, due
to robust technology and information technology (IT) infrastructure. The market
in Asia-Pacific is expected to witness the fastest growth rate during the
forecast period, owing to huge growth opportunities in media industry and
emergence and rapid adoption of predictive technologies by major media and
advertising companies in the regional market.
Market Segmentation
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Some of the major players in the global artificial
intelligence market in media and advertising are IBM Corporation, Microsoft
Corporation, Google Inc., NVIDIA Corporation, Intel Corporation, Sentient
Technologies, and Numenta Inc.
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