Google is heavily pivoting towards artificial intelligence (AI) in advertising as shown in the company’s Q2 report, rolling out over 30 new AI-based advertising products.
Despite debates about privacy, Google plans to continue investing in machine learning to improve ad performance and targeting capabilities. However, there are concerns among users and experts surrounding data privacy and misuse.
Google maintains that it is committed to guarding the highest standards of data protection while unlocking the potential of AI. The company aims to simplify operations and facilitate innovative resource development through its latest upgrades.
Features like the virtual try-on and the new Discovery campaigns feature are formulated with the aim to revolutionize the way online retail businesses operate and strategize their marketing.
Over the last three years, these advancements in advertising have significantly contributed to YouTube’s growth. Video views on the platform have increased by 130%, making it the second most viewed platform after Disney.
The surge in user engagement can be largely attributed to the adoption of mobile devices. Consequently, advertisers are allocating more budgets to YouTube, leading to a 60% increase in platform’s ad revenue.
Google’s significant shift to AI-based advertising
Advertisers using AI-based profit optimization and Google’s Smart Bidding feature have seen an average profit increase of 15%. When demand generation and search or PMax strategies are used, there is a typical yield of a 14% rise in conversions.
Despite these successful strategies, Google has urged patience in transforming AI capabilities into practical solutions for customers and businesses. The transition process to AI-driven advertising solutions requires intricate planning and development.
Google is committed to balancing the effective delivery of advertisements while preserving user privacy rights.
The author of the report, Anu Adegbola, is a seasoned professional who started her career in 2008. She is known for running digital marketing campaigns and optimizing ROI, leading to her recognition internationally as a speaker and name in the media industry.
After launching her career, Anu has not only gain experience in digital marketing, but she also created a platform for PPC experts to network, known as PPC Live.
She has then become a brand ambassador for ClickTech, a leading marketing technology company, and has presented on a number of international stages.
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