MUMBAI: We live in a world of AI (artificial intelligence). According to a study published by marketing data analysis firm Kantar, nine out of ten internet users in India are already using AI. Thanks to its vast computing power. Phones, connectivity, and cloud infrastructure. Currently, the country's AI user base is 724 million and is expected to grow by 6% year-on-year. These are users who have previously used any of his AI features such as image filters, personalized recommendations, and smart his devices.
Social media and fitness apps are leading the way in terms of driving AI adoption, with the most AI-driven features built into these applications. Entertainment apps are a close second, placing him in second place. AI is also being implemented in digital commerce and pharmacy apps. Kantar expects more digital commerce and entertainment apps to adopt his AI capabilities to improve the quality of customer experience and align with emerging trends. The survey showed that adoption continues to lag in the areas of BFSI, job search and short video apps.
While the usage rate of AI technology is expected to be higher among young people (19-24 years old), the 45+ age group is also keeping up with the times, with usage rate among their peers at around 81%.
While consumers are embracing AI, the use of the technology is less prevalent among marketers due to privacy and safety concerns, said Deepender Rana, Executive Managing Director, South Asia, Insights. said Puneet Avasthi, Senior Executive Director, South Asia, Insights, Kantar. he told TOI in an interaction. About 60% of organizations surveyed by the company said they rarely or never use AI. “There's a lot of data, but consumers don't want AI to be used manipulatively, and companies are still figuring out where the boundaries of privacy are,” Lane said. Additionally, a marketer must also ensure that no bias creeps into his AI-driven recommendations to consumers. “Recommendation engines and AI algorithms should not exclude certain underrepresented segments of society,” Rana said.
Kantar predicts that Generative AI will become a $1.3 trillion market globally by 2034, expected to grow at a CAGR of 42% over the next decade. “We are at a tipping point, and the next few years will give early adopters a competitive advantage over others. As AI increases, it's important for marketers to move beyond leveraging AI in isolation or as a fad, and instead weave consumer behavioral data into AI to remove bias and build equity beyond just activation. ,” Avasthi said.
The emergence of AI is inevitable, added Soumya Mohanty, Managing Director and Chief Customer Officer, South Asia, Insights, Kantar. The company has developed a variety of services to further assist marketers and consumers. “LINK AI is one such solution that helps evaluate creative effectiveness at scale and follows Google's ABCD framework to create better video ads on YouTube, which has a proven track record of growth. It helped us uncover new insights,” Mohanty added.
Social media and fitness apps are leading the way in terms of driving AI adoption, with the most AI-driven features built into these applications. Entertainment apps are a close second, placing him in second place. AI is also being implemented in digital commerce and pharmacy apps. Kantar expects more digital commerce and entertainment apps to adopt his AI capabilities to improve the quality of customer experience and align with emerging trends. The survey showed that adoption continues to lag in the areas of BFSI, job search and short video apps.
While the usage rate of AI technology is expected to be higher among young people (19-24 years old), the 45+ age group is also keeping up with the times, with usage rate among their peers at around 81%.
While consumers are embracing AI, the use of the technology is less prevalent among marketers due to privacy and safety concerns, said Deepender Rana, Executive Managing Director, South Asia, Insights. said Puneet Avasthi, Senior Executive Director, South Asia, Insights, Kantar. he told TOI in an interaction. About 60% of organizations surveyed by the company said they rarely or never use AI. “There's a lot of data, but consumers don't want AI to be used manipulatively, and companies are still figuring out where the boundaries of privacy are,” Lane said. Additionally, a marketer must also ensure that no bias creeps into his AI-driven recommendations to consumers. “Recommendation engines and AI algorithms should not exclude certain underrepresented segments of society,” Rana said.
Kantar predicts that Generative AI will become a $1.3 trillion market globally by 2034, expected to grow at a CAGR of 42% over the next decade. “We are at a tipping point, and the next few years will give early adopters a competitive advantage over others. As AI increases, it's important for marketers to move beyond leveraging AI in isolation or as a fad, and instead weave consumer behavioral data into AI to remove bias and build equity beyond just activation. ,” Avasthi said.
The emergence of AI is inevitable, added Soumya Mohanty, Managing Director and Chief Customer Officer, South Asia, Insights, Kantar. The company has developed a variety of services to further assist marketers and consumers. “LINK AI is one such solution that helps evaluate creative effectiveness at scale and follows Google's ABCD framework to create better video ads on YouTube, which has a proven track record of growth. It helped us uncover new insights,” Mohanty added.
