WPP Woes Could Spread: DIY AI Ad Creation/Campaign Tools
The real problem WPP is facing is not simply loss of accounts to other major players in advertising/markeitng. Sure, that's hurting financial performance right now, as The Wall Street Journal details. Yeah, maybe WPP isn't as nimble on its feet, even with new leadership, as its competitors.
But the core threat is only given a brief mention in WSJ. Here's a bit of it:
" ... the bigger concern is whether big tech companies’ advances
in automating ad campaigns through AI will put the role of ad groups at risk."
Throughout business, which used to rely on the creative producers for whatever, there is the opportunity to cut out the middlemen. That ranges from public relations agencies which historically have chured out the press releases to the kind of "Mad Men" advertising/marketing firms which conjure up the catchy ideas and roll out the campaigns.
Now AI DIY tools are increasingly available. Investors in those businesses are pressuring them for more and more cost-efficiency. The likely solution is to go with AI. Experiment. Learn. Then embrace a full strategic shift to do the work primarily in-house.
WPP could just be the tip of the iceberg. Soon enough firms handling the speeded-up pace better could also get hit.
What am I advising "Mad Men" manpower? There's growing demand for solopreneurs. That is, niche-oriented consultants who can provide the additional services which an AI-process might require. Fast. And more affordably.
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