Google announced on the 3rd that it held 'Google Marketing Live 2024,' an event presenting the latest trends in advertising and marketing strategies.
About 2,500 digital marketing industry professionals, including advertisers, advertising agencies, creators, and developers, attended the event both online and offline. The Marketing Live event was held under the theme of the Gemini era and a new era of Ads created together.
Cases of accelerating business growth by establishing and executing strategies based on Google's artificial intelligence (AI) marketing tools were also introduced. In particular, LG Uplus's 'Full-funnel marketing' and Olive Young's AI-based integrated performance marketing showed high achievements in expanding new customers and return on advertising investment.
At the 'AI Sandbox' booth, Google's multimodal AI model 'Gemini,' which can read and generate both text and images, was demonstrated through various technologies, attracting much attention. Following ▲ImageFX ▲MusicFX ▲Google Workspace, a special experience zone featuring a mini golf demo called 'Golf with Gemini,' which recognizes the trajectory of a golf ball and broadcasts it like an actual golf game, was also set up.
Meanwhile, global consulting firm Accenture announced a research report titled ‘AI Marketing Maturity Framework,’ containing survey results on AI utilization trends in marketing across the Asia-Pacific region.
According to the survey, in Korea, existing AI is expected to record an average annual growth rate of 19%, and generative AI 26% by 2030. Strategies for utilizing generative AI are being planned and executed mainly in the consumer goods and retail industries, and this growth trend is seen as an opportunity factor for domestic companies to accelerate AI-based innovation, the report stated.
However, despite growth prospects, Korea's AI market adoption is relatively low compared to other countries due to the necessity of the Korean language and limitations of existing AI platforms' multilingual functions. As public media interest increased, generative AI technology development was expedited, and it is expected that more than 50,000 personnel shortages will be faced in technology fields such as AI over the next five years.
Regarding AI marketing readiness and implementation, Korea scored 3.24 out of 5 in readiness (Asia-Pacific region 3.23) and 34% in implementation (Asia-Pacific region 38%). Most Korean companies showed relatively low implementation compared to readiness, appearing at the 'AI adopter' stage. Patrick Kwon, Senior Manager at Accenture Singapore, said, "If talents with AI marketing experience increase and leadership support and data governance capabilities are strengthened, companies can advance to the 'AI leader' stage with high readiness and execution."
Kim Kyunghoon, President of Google Korea, said, "Google is actively cooperating so that Korean companies can leverage the opportunity of AI to reach more customers worldwide and accelerate business growth," adding, "With brand safety and personal information protection as top priorities, we will provide various AI-based solutions that marketers can utilize to help all partners, including advertisers, agencies, and creators, achieve greater results in the AI era."
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