Digital
Leading with purpose creates wins for consumers, community and country: Hina Nagarajan of Diageo India
AI is advertising’s most profound revolution yet: WPP's Mark Read
Another driving force in the advertising industry especially in India, are small and medium businesses. Also, new advertising models, such as search and social media, have democratized access to marketing tools, said Mark Read, WPP, CEO during Waves 2025 in Mumbai.
"Advertising plays a significant societal role by funding the media industry, supporting entertainment, drama, and film. It also helps fund technologies and services like search engines, free tools like Google Maps, social media platforms, email, and creative platforms such as YouTube," said Mark Read, WPP, CEO at WAVES 2025 in Mumbai.
During the first-ever World Audio Visual Entertainment Summit (WAVES), held in Mumbai, Mark Read, CEO, WPP touched upon the future of advertising and why it matters. "Globally, advertising is a trillion-dollar industry. During the strongest years of the COVID-19 pandemic, the sector continued to grow at a rate of around 6 to 7 percent. Our clients learned a great deal during this period. In today’s economic and societal environment, brands hold increasing value because consumers trust them."
"Another driving force in the advertising industry especially in India, is small and medium businesses. New advertising models, such as search and social media, have democratized access to marketing tools. Platforms developed by technology companies like Google and Meta have enabled small and medium enterprises (SMEs) to launch ventures and reach new customers," he added.
He highlighted advertising’s contribution and said it goes beyond direct economic growth. "It plays a significant societal role by funding the media industry, supporting entertainment, drama, and film. It also helps fund technologies and services like search engines, free tools like Google Maps, social media platforms, email, and creative platforms such as YouTube."
"Advertising plays a significant societal role by funding the media industry, supporting entertainment, drama, and film. It also helps fund technologies and services like search engines, free tools like Google Maps, social media platforms, email, and creative platforms such as YouTube," said Mark Read, WPP, CEO at WAVES 2025 in Mumbai.
"We’re also in the midst of what I believe is advertising’s fifth industrial revolution."
Read went back to history and shared, "Advertising has evolved with successive technological revolutions: the advent of television introduced a new generation of creators; the digital revolution brought online advertising to the forefront; the launch of the iPhone in 2007 sparked the mobile revolution; and the rise of social media once again transformed the industry bringing computing power and internet access to everyone in society."
"Today, we are at another critical juncture with the AI revolution. In my view, this is as profound if not more so than any previous shift. For the first time, computers can perform tasks we once thought only humans could - writing copy, taking photos, creating videos, analyzing documents, making recommendations. While AI may not be creative in the human sense, it can augment human creativity in incredibly powerful ways."
Read also highlighted WPP's initiatives in India and said, "WPP is strengthening its global development centers in India, growing and supporting our enterprise tech, investing in new creative technology capabilities here."
"The convergence of creativity and technology is central to what this event is all about," he concluded.
SPOTLIGHT
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