AI in festive mode as brands celebrate efficiencies in spends
The festive season in India is a complex interplay of tradition, emotion, and commerce. In recent times, a technological disruptor has entered this arena: artificial intelligence. No longer a mere buzzword, AI is evolving into a strategic imperative for brands seeking to captivate audiences during this peak consumption period. As Gulab Patil, Founder & CEO of Lemma, observes, "Generative AI has evolved beyond creative generation, enabling brands to harness its power for data-driven decision-making." AI's ability to process vast datasets and identify patterns is transforming how marketers approach campaign planning and execution.
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Varun Mohan, Head of Growth & Revenue of MiQ India, echoes this sentiment, highlighting the growing enthusiasm among brands across sectors for AI-powered solutions. “We see a lot of excitement for the festive season among Automobiles, Consumer electronics, FMCG, e-commerce and retail brands," he says. The potential for AI to optimise media buying, create personalized ad experiences, and measure campaign performance is driving this adoption.
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A recent GroupM report underscores the transformative impact of AI on the advertising industry. The prediction that 69.5% of ad revenue will be AI-informed by 2024, rising to 94.1% by 2029, is a stark indicator of the technology's growing influence. Beyond media buying and optimization, AI is reshaping the creative landscape. Abhishek Upadhya, SVP, Digital Strategy and Innovation at Hiveminds, envisions a future where AI-generated content seamlessly integrates across platforms, creating immersive experiences for consumers. "Large-scale creation of content like sounds, memes, and customized videos - and where User-generated content becomes more participative and interactive, with professionally generated aesthetics are my predictions for AI this festive," he states. “If we discuss BAU ad streams, AI has already inched into a good double-digit percentage percolation, thanks to extensive AI usage in their mainstream products by the likes of Google & Meta. This is already being used for Ad copy generation, Creative trimming, Creative Adaptation etc. On Innovations, apart from a few brands that have done full-fledged AI-led mass-personalization campaigns, AI continues to be a small, single-digit percentage experiment that is one-off and separately constructed from the main campaign thought. This needs to change, and hopefully will in this festive period,” he adds. Amit Thaker, SVP, Interactive Avenues (the digital arm of IPG Mediabrands India) expects larger brands to invest in more complex and capital-intensive AI projects, while emerging brands may take bolder creative risks. “Although most brands' budgets may not dramatically shift towards AI, some will deploy disproportionate spends on AI-driven campaigns. To date, AI has primarily been used for static content and face / voice swapping. However, we are now seeing innovative campaign concepts that leverage AI-generated video content. Undoubtedly, integrating brand messaging with current AI capabilities will be crucial for success.” The festive season, once a domain dominated by intuition and experience, is now being redefined by data and algorithms. AI is no longer a luxury but a necessity for brands aiming to thrive in this increasingly competitive marketplace. The integration of AI into marketing strategies is not merely an option; it's a strategic imperative for brands seeking to capture the hearts and wallets of Indian consumers during the festive season and beyond. The business imperative of AI is clear. Samir Asher, Co-Founder and COO of Tonic Worldwide, notes a substantial increase in AI ad spending, particularly in sectors with high festive purchase intent. "We see a steady increase in AI-driven ad spends," he says. "Generally, we see a 25-30% increase in ad spends overall during festive periods." However, the AI revolution is not exclusive to large corporations. Amit Thaker of Interactive Avenues emphasises the role of AI in democratizing marketing. "We expect larger brands to invest in more complex and capital-intensive AI projects, while emerging brands may take bolder creative risks," he notes. As Sharath Madhavan, Lead - Performance Marketing at TheSmallBigIdea, points out, AI is empowering smaller players. "With AI tools becoming more accessible and cost-effective, SMEs will increasingly leverage these technologies to compete with larger brands," he observes. The future of festive marketing is undoubtedly AI-powered. As technology continues to evolve, we can expect even more innovative and effective applications to emerge, shaping the way brands connect with their audiences in the years to come.
Tags : Generative Ai Festive Season Ai