Recent advancements and concerns in artificial intelligence (AI) are dominating discussions in various sectors, shaping the future of technology, marketing, and democracy.
These topics have drawn attention from industry experts and researchers, highlighting both the potential benefits and significant challenges of AI integration.
According to a new report by research firm Forrester, AI's rapid progress among cloud providers, adtech companies, brands, and agencies is leading to the development of brand-specific AI models. These models scale and systematise ad campaigns and customer experiences, offering several business advantages such as cost efficiency, marketing performance, customer relevance, brand differentiation, and revenue growth. The firm forecasts that global spending on generative AI (genAI) software will surpass USD $23 billion in 2024, accounting for nearly 32% of all AI spending.
Jay Pattisall, VP and Principal Analyst at Forrester, emphasised, "Brand AI models are not replacements for creativity. They combine the efficiency, scale, and precision of technology with the artistry, intuition, and tastes of artists. They are trained with a company's brand IP—tangible and intangible assets that distinguish a company's goods or services from competitors—using data sets like product IP, brand essence, logos, fonts, colours, tone of voice, images, previous advertising, and/or brand idea platforms." Pattisall noted that when AI-generated creatives become equally cost-efficient and effective, brands and service providers stand to gain multiple advantages.
Contrarily, there are growing concerns about the potential risks AI poses to society. Recently, AI experts raised alarms about the existential threats AI could pose to humanity, generating significant public discourse. Flavia Colombo, VP EMEA at HubSpot, commented on the matter, stating, "Recent warnings from AI experts about potential existential threats posed by AI have driven a lot of headlines and captured the public's attention; and while it's important to acknowledge the significance of the potential pitfalls, suggesting human extinction is a bit extreme."
Colombo added, "History shows that with the introduction of any transformative technology, from the steam engine to the internet, there has always been a blend of enthusiasm and caution. Many markets have already introduced legislation to safeguard society, such as the EU AI Act, which sets guidelines for how organisations should be using and innovating with AI. While safe AI development and use is a never-ending journey requiring constant review and updating, this type of legislation ensures we harness AI's potential for good, whether it be for medical, defence, business, or other purposes. The potential benefits of AI drastically outweigh the risks."
In the context of democratic processes, concerns about AI-generated deepfakes have surfaced ahead of the upcoming General Election. Shweta Singh, Assistant Professor at Warwick Business School, highlighted the issue, stating, "Deepfakes are an increasingly big problem for trust, elections, and democracy across Britain. With the election just around the corner, it’s more important than ever that voters know that what they’re looking at is real."
Singh pointed out the recent instance where voters and even pundits and journalists were deceived by a deepfake video purportedly showing Nigel Farage playing 'Minecraft'. Emphasising the necessity for vigilance, she stated, "We know that most voters can spot deepfakes when they see them, but in elections where results can be decided by a small handful of votes, we still need to do what we can to tackle the threat of misinformation through deepfakes. I believe all AI-generated content should be watermarked as such, so that at least the vast majority of video made through AI programmes is clearly marked, making it much harder to pass off as real. Whilst these watermarks can sometimes be removed, we must place obstacles in the way of the people producing these deepfakes. Each method we have of distinguishing real from fake helps us in the fight against political disinformation."
As AI continues to evolve, it remains a double-edged sword, offering transformative benefits while presenting new challenges. The discourse among industry experts, researchers, and policymakers underscores the importance of balanced and responsible AI development to harness its potential and mitigate its risks.
