AI Adoption in Advertising: Key Insights from The Myers Report

How the Advertising Industry Stacks Up

The Myers Report, a leading authority on industry insights in media, advertising, and marketing, has conducted a pivotal benchmark study examining the integration and understanding of generative AI tools within the advertising industry. The study surveyed 3,450 professionals, asking two essential questions:

1. AI Tools Understanding: "I feel that I have sufficient understanding of generative AI tools to use them for researching and writing reports that I'm responsible for preparing and presenting."

2. AI Tools Usage: "I feel that my company is investing to increase my knowledge or ability to use generative AI tools for my professional use."

The results reveal that only 11% of respondents strongly agreed they have a sufficient understanding of AI tools, while 31% somewhat agreed, indicating room for growth in AI literacy. When it comes to company investment in AI tools, 18% strongly agreed their company is actively investing in their AI education, with 34% somewhat agreeing.

The findings show that professionals with fewer years of experience are generally more comfortable using AI tools, while larger companies are leading in investment to increase AI knowledge across their workforce. However, a notable gap remains among professionals with over 15 years of experience, where understanding and confidence in AI tools decline despite company investments.

The findings from The Myers Report on AI adoption in the advertising industry, showing that 42% of professionals feel confident in their understanding of AI tools (11% strongly agree, 31% somewhat agree), and 52% acknowledge that their companies are investing in AI education (18% strongly agree, 34% somewhat agree), can be compared to data from other industries that have also embraced AI at different rates.

For instance, a 2023 McKinsey survey found that 65% of organizations across various sectors are regularly using AI in at least one business function. This is higher than what is observed in advertising, suggesting that industries such as technology, finance, and retail are ahead in AI adoption. Companies in these industries are not just adopting AI but also embedding AI capabilities deeply into their operations, with AI high performers—those achieving significant revenue growth from AI—spending more than 20% of their digital budgets on AI technologies​ (McKinsey & Company),

The IBM Global AI Adoption Index corroborates these findings, revealing that sectors like retail (73%) and finance (54%) have higher AI adoption rates than advertising. In these industries, AI is being applied for more advanced uses, such as optimizing product development cycles and improving supply chain management ​(MediaRoom). Meanwhile, the advertising industry is still in an early phase of adoption, focusing more on gaining a foundational understanding and investing in AI skills.

While advertising is making strides in AI adoption, particularly in larger companies, other industries like retail, technology, and finance are further ahead in integrating AI into multiple business functions and deriving significant value from it. To keep pace, advertising companies should continue to increase their investments in AI education and explore more advanced AI applications that go beyond operational efficiency to creating new revenue streams. This ongoing benchmark study will help track the industry's progress and provide valuable insights for future decision-making.

Scroll down for key points and highlights from The Myers Report on AI adoption and understanding. The Media Ecologist is supported exclusively by your funding support. Become a FREE subscriber to explore more content. Your paid subsriber support is welcome, of course.