Artificial intelligence to influence 94.1% of global ad revenue by 2029 – Report 

This milestone will be achieved three years earlier than previously forecasted, according to the 2024 Global Midyear Advertising Forecast.

Artificial intelligence (AI) is set to reshape advertising, with AI-driven content predicted to influence global ad revenue by 2029.

“By 2029, AI could inform 94.1% of ad revenue, three years earlier than previously predicted,” the report stated.

In 2024, digital advertising continues to lead the global advertising industry, accounting for 70.6% of total ad revenue in 2024, equivalent to $699.0 billion.

“Digital pure-play advertising will account for 70.6% ($699.0 billion) of total ad revenue in 2024, with retail media remaining the fastest-growing digital segment,” the report stated.

Another major growth area is Connected TV (CTV), which is experiencing significant expansion. CTV refers to TVs connected to the internet through smart features, streaming devices, or gaming consoles, allowing viewers to access streaming platforms like Netflix and YouTube.

AI-driven machine-generated content is poised to revolutionize how advertisements are created and delivered, playing a pivotal role in the shift towards a more technology-driven advertising ecosystem.

While digital platforms continue to thrive, traditional media channels are experiencing slower growth or even declines.

Advertising on television, in print, on the radio, and in cinemas is losing traction as consumers shift toward digital spaces.

However, out-of-home (OOH) advertising, such as billboards and transit ads, has seen a robust recovery, benefiting from renewed consumer engagement and increased visibility in public spaces.

The role of Artificial Intelligence (AI) in the global economy is expanding rapidly. According to a report by Public First commissioned by Google, AI has the potential to contribute over $30 billion to Africa’s economy in the next decade.

For African governments to harness AI’s potential, the report recommends policies prioritizing cloud infrastructure, strengthening STEM education, and creating opportunities for continuous learning. It also advocates for the development of high-quality, diverse datasets to support responsible AI development and ethical regulations.