The economic potential of generative AI: The next productivity frontier
Big Data Industry Predictions for 2024 GenAI has the potential to fundamentally change the marketing function – from storyboarding to creative content to customization for different media channels and audiences. Our analysis shows that GenAI could increase marketing productivity by about 9 percent. First, entrepreneurs should consider that challenging incumbents in the era of ML will be more difficult since incumbents’ use of ML for proprietary data makes them more formidable competitors. This fact implies that entrepreneurs need to become riskier and more creative in the future to obtain a competitive edge. They may therefore seek support from angels or […]