MUMBAI: We live in a world of artificial intelligence (artificial intelligence). A study published by marketing data and analytics company Kantar found that artificial intelligence is already being used by 9 out of 10 internet users in India thanks to the enormous computing power of computers, phones, connectivity and cloud infrastructure. The country’s current AI user base is 724 million and is poised to grow 6% year-on-year. These are users who have previously used any AI features, such as image filters, personalized recommendations and sharp devices.
Social media and fitness apps are leading the adoption of AI with the highest number of AI-based features built into these apps. Entertainment apps are in second place. Artificial intelligence is also influencing digital commerce and pharmaceutical applications. Kantar predicts that many more digital commerce and entertainment apps will adopt AI capabilities to improve customer experience and stay in line with emerging trends. The study found that adoption remains leisurely in the BFSI, job search and compact video application segments.
The operate of AI technology is expected to be higher among youth (19-24), but those aged 45 and older are also keeping pace with the times, reaching approximately 81% in this cohort.
However, consumers prefer AI and marketers are not as widely using the technology due to privacy and security concerns, Deepender Rana, Executive Director, Insights, South Asia and Puneet Avasthi, Senior Executive Director, South Asia, Analytics at the company Kantar told TOI in an interaction. About 60% of organizations surveyed by the company said they rarely or never operate AI. “There is a lot of data out there, but consumers are reluctant to operate AI in a manipulative way, and companies are still discovering what the boundaries of privacy are,” Rane said. Additionally, marketers must also ensure that bias does not creep into AI-based consumer recommendations. “What should not happen is that recommendation engines or artificial intelligence algorithms leave out our underrepresented parts of society,” Rana said.
Kantar expects the Generative AI market to become a $1.3 trillion global market by 2034, with a possible CAGR of 42% over the next 10 years. “We are at an inflection point where the next few years will enable a competitive advantage between early adopters and others. As the operate of AI grows rapidly, it is critical that marketers do not operate AI in isolation and as a fad, but weave consumer behavior data into it to remove bias and continue to focus on building capital, not just running activations. , – said Avasthi.
Artificial intelligence is inevitable, added Soumya Mohanty, managing director and chief customer officer, South Asia, analytics at Kantar. The company has created a number of offers to aid marketers and consumers. “LINK AI is one such solution that helps assess innovative performance at scale and has revealed a novel perspective on creating better video ads on YouTube, which has a proven track record of growth as per Google’s ABCD framework,” Mohanty added.
Social media and fitness apps are leading the adoption of AI with the highest number of AI-based features built into these apps. Entertainment apps are in second place. Artificial intelligence is also influencing digital commerce and pharmaceutical applications. Kantar predicts that many more digital commerce and entertainment apps will adopt AI capabilities to improve customer experience and stay in line with emerging trends. The study found that adoption remains leisurely in the BFSI, job search and compact video application segments.
The operate of AI technology is expected to be higher among youth (19-24), but those aged 45 and older are also keeping pace with the times, reaching approximately 81% in this cohort.
However, consumers prefer AI and marketers are not as widely using the technology due to privacy and security concerns, Deepender Rana, Executive Director, Insights, South Asia and Puneet Avasthi, Senior Executive Director, South Asia, Analytics at the company Kantar told TOI in an interaction. About 60% of organizations surveyed by the company said they rarely or never operate AI. “There is a lot of data out there, but consumers are reluctant to operate AI in a manipulative way, and companies are still discovering what the boundaries of privacy are,” Rane said. Additionally, marketers must also ensure that bias does not creep into AI-based consumer recommendations. “What should not happen is that recommendation engines or artificial intelligence algorithms leave out our underrepresented parts of society,” Rana said.
Kantar expects the Generative AI market to become a $1.3 trillion global market by 2034, with a possible CAGR of 42% over the next 10 years. “We are at an inflection point where the next few years will enable a competitive advantage between early adopters and others. As the operate of AI grows rapidly, it is critical that marketers do not operate AI in isolation and as a fad, but weave consumer behavior data into it to remove bias and continue to focus on building capital, not just running activations. , – said Avasthi.
Artificial intelligence is inevitable, added Soumya Mohanty, managing director and chief customer officer, South Asia, analytics at Kantar. The company has created a number of offers to aid marketers and consumers. “LINK AI is one such solution that helps assess innovative performance at scale and has revealed a novel perspective on creating better video ads on YouTube, which has a proven track record of growth as per Google’s ABCD framework,” Mohanty added.
