WFA Reports: Marketers Find Excitement, Not Threat, in AI

 The nature of work is evolving, particularly for highly skilled jobs like marketing, as artificial intelligence (AI) continues to make its mark. With predictions that AI will impact 40% of all jobs and a substantial 60% in advanced economies, concerns about job displacement and changes in the workforce are surfacing. However, according to Stephan Loerke, the Chief Executive of the World Federation of Advertisers (WFA), marketers are not apprehensive about the technology; instead, they are excited about its potential impact on their roles.

The International Monetary Fund (IMF) suggests that AI integration could enhance productivity in about half of the job roles, while the other half may see functions previously carried out by humans being taken over by AI. This could lead to a reduction in labor demand, resulting in lower hiring numbers, reduced wages, and the disappearance of certain roles. Kristalina Georgieva, Managing Director of the IMF, encourages a focus on helping lower-income countries adopt AI and leverage the opportunities it presents.

Marla Kaplowitz, President and CEO of the 4A’s, echoes a similar sentiment, emphasizing the need for agencies to adapt to AI rather than ignore it. She sees it as a crucial moment where agencies must either adapt or risk becoming irrelevant.

A survey of more than 60 chief economists ahead of the World Economic Forum reveals that 94% believe AI will enhance productivity in high-income economies. However, opinions differ for poorer nations, with 54% expressing skepticism about their readiness to harness AI's potential benefits.

The World Federation of Advertisers has already released a guide for marketers on adopting generation AI (gen AI), revealing insights into the increasing use of technology in marketing. The survey included responses from 68 professionals from 55 member companies globally spending a collective $118 billion on marketing. Notably, 75% of respondents reported using gen AI tools, expressing a cautious optimism about its role in driving growth.

Marketers seem more enthusiastic about AI compared to legal professionals, with AI primarily used for automating less exciting tasks and content creation. Concerns among marketers focus on brand-related issues such as intellectual property protection, copyright, brand safety, and diversity and inclusion, rather than fearing job displacement.

A recent CMO Barometer survey involving 767 marketing decision-makers across 11 countries found that the use of AI, machine learning, and marketing automation is a top priority for most marketers, surpassing other concerns like content creation, emotional branding, sustainability, and omnichannel marketing.

In conclusion, the changing landscape of work, driven by AI, is met with optimism by marketers who view the technology as a tool to enhance productivity and drive growth, emphasizing the importance of adaptation in this evolving digital era.