The Cannes Lions International Festival of Creativity is in full swing, with brands and agencies competing to win prestigious Lions. Artificial Intelligence (AI) has become a major topic of conversation and is being featured in many brand campaigns.
Philippe Krakowsky, the global CEO of Interpublic Group, discussed the impact of Generative AI and its potential to change the face of the media and advertising business. While some people fear and are curious about AI, Krakowsky believes that when combined with human expertise, it can unlock value and drive technological advancements.
Interpublic Group has already integrated AI into its business, particularly on the media side, where machine learning has played a significant role in analytics and decision-making processes. Krakowsky highlighted that while AI enhances efficiency, it also allows professionals to focus more on client interactions and higher-level marketing challenges. He emphasised that AI is still in its early stages and will persistently impact the industry, helping professionals conduct tasks more efficiently and elevate human expertise in specific marketing areas.
To prepare for the future, Interpublic Group is focusing on every aspect of commerce. They aim to connect data with marketing technology platforms and leverage owned and earned platforms to engage with consumers and drive commerce.
India holds great importance for Krakowsky and Interpublic Group, as they see it as an area of expertise and a promising market. Despite being the fastest-growing advertising market, India’s ad dollar investment per person is significantly lower compared to Western Europe, the USA, and China. Krakowsky remains optimistic about India’s potential and expressed interest in exploring the gaming industry and its impact on Indian consumers.
(Compiled by Aashrey Baliga)