In the dynamic realm of modern marketing, the integration of Artificial Intelligence (AI) has emerged as a crucial asset for businesses seeking to secure a competitive edge. This series of blogs delves into the dynamic intersection of AI and marketing strategies, uncovering how intelligent algorithms and machine learning are reshaping the landscape. From crafting personalized customer experiences to facilitating data-driven decision-making, join us as we explore the transformative power of AI in marketing. These articles provide insights and practical applications, catering to both seasoned marketers and those embarking on their digital journey. By demystifying the role of AI, we aim to shed light on its profound impact on the future of marketing.
Companies investing in AI are increasingly investing more to market it.
At least $40 million has been spent this year on advertising AI products across print, digital, TV and events, according the ad-tracking firm MediaRadar. And in recent months, momentum is picking up.
Tech giants and startups racing to stand out spent more than $35 million in just the third quarter of 2023 — a 550% increase over the third quarter of 2022 — noted MediaRadar, which analyzed spending data through September for more than 360 advertisers. The total number of third-quarter advertisers also increased by 135%, jumping from 80 in 2022 to more than 180 in 2023.
Only 6% of AI advertisers spent over $100,000, contributing $36 million to total spending in the first nine months. The remaining 94% collectively spent just $4 million. MediaRadar highlighted new major advertisers like IBM and Salesforce — for products such as WatsonX and Slack GPT — along with startups like cloud communications provider Dialpad.
The findings illustrate what might be in store for the category as AI expands into various business and societal sectors. (In September alone, overall AI advertising skyrocketed 730% from August, which MediaRadar said was thanks to new advertisers and a spending surge from IBM across TV and online video.) 
In terms of AI advertising formats, 34% of total spending went to TV, 29% to online video, and 12% to print. Digital advertising made up $19.8 million or 49% of the total spend. This included $11.7 million for online video, with digital display and paid social each receiving around $3 million. Event exhibits and sponsorships accounted for $1.8 million, or approximately 5%.
As tech giants and startups both collaborate and compete, it’ll be worth watching how marketing strategies evolve across various ad formats. Can newcomers create compelling campaigns as a way to stand out, or will current incumbents use their size and familiarity to stay on top?
It’s once again earnings season, and AI is being mentioned plenty in Q3 results and accompanying earnings calls. 
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