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The Advertising Renaissance
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00:00Welcome everybody, great to see you all, thank you for joining us for this conversation, indeed about the advertising renaissance.
00:10As the introduction talked us through, there is a lot of discussion that the future may be a little ominous
00:16at the moment for advertising with complexity, measurement challenges, some of the regulatory changes that we're seeing come through the
00:23industry.
00:23But if you look at the evidence, demand is solid in advertising. I'm talking to many people here at VivaTech
00:30and actually it's advertising which is fueling their business growth.
00:34And we're certainly seeing that through streaming and retailers and in our world of B2B advertising as well.
00:41So I'm pretty excited to be part of this panel and we have a selection of experts with us to
00:47walk us through and really explore this topic in detail.
00:51So I'm going to introduce the panel for you. I'd love to start with Pippa, actually. Pippa, would you introduce
00:56yourself, please?
00:57Sure, yeah. My name is Pippa Scaife. I'm the VP of Global Partnerships for NBCUniversal and I sit in our
01:04London office.
01:05Thanks, Pippa. Coming to you, Adam.
01:07Hi, everybody. Nice to see you all. I'm Adam Bishop. I work at Deliveroo where I'm the Chief Global Marketing
01:13and Product Officer.
01:15Thanks, Adam. Milka, you're next.
01:17So I'm Milka Privudanova. I'm Head of ME at Pinterest.
01:21Wonderful. And by no means, at least David.
01:23No, no. I'm happy to be last. David Steinberg, CEO, founder of Zeta Global.
01:28Fantastic. Thank you for joining us. So we're going to jump into the first question to explore this topic.
01:33So we've got this context of an acceleration and actually a strong year, particularly in 2024, if you look at
01:39the data in advertising.
01:41I'd love to understand where is this increased demand coming from and are we experiencing emerging channels and what other
01:48trends are we seeing here?
01:50And I think, David, with your purview of the advertising kind of ecosystem at Zeta Global, I'd love to perhaps
01:56come to you first to help us understand what's happening.
01:59Yeah. So I think after sort of a number of years of real worry about the state of the marketing
02:06ecosystem, for many, many years, organizations have looked at marketing and said, ooh, in a downturn, it'll be the thing
02:14that gets cut first.
02:15And we just didn't see that through the downturn.
02:18What we're seeing is that the focus is really on return on investment in a way that it hasn't been
02:26before.
02:27So we should see global marketing grow by between 8% and 10% this year.
02:31Digital is going to ascend to 74%, up from 72%, 73%.
02:36And as you think about the ability for an enterprise to get closer to a consumer, a lot of it
02:43comes down to what channel are you focused on?
02:46So for B2B, nothing better than LinkedIn.
02:49It's great to have you guys here.
02:51But as you look at the ability to get closer to a customer and get a better return on investment,
02:58identity and the ability to understand what people intend to do next, I've never seen a time that it's been
03:05more valuable.
03:06And not to jump ahead into a future topic for later in the conversation, but using certain algorithms, a.k
03:14.a. AI, and the ability to access data to do that is going to change the game as it relates
03:21to what channel you focus on.
03:23Thank you for mentioning AI so early.
03:26I waited at least 32 seconds, so I apologize.
03:29I think that's a record for a Viva Tech panel.
03:31But thank you, I love this trend of advertising getting too well, where the measurement and ROI is so impactful,
03:38it's creating that business case to be a catalyst for growth, not a cost to a company which has to
03:46be reduced in a downturn.
03:47And so that's really, I think, encouraging.
03:49I'd love to open it up to the rest of our panel on the same question.
03:53Sorry.
03:55Not to jump in too quickly, but, I mean, I'm excited to talk about it, partly because I think it's
04:00just so nice to be talking about growth in the advertising industry.
04:04You know, we've sat on a few of these panels over the last couple of years having the opposite conversation.
04:09We've had some dark days.
04:11So it's really exciting, actually, that we are talking about that renewed demand, and we're definitely feeling it, not just
04:19in terms of kind of commercial sentiment, or rather not just in terms of dollar spend, but in terms of
04:25that kind of commercial sentiment and the enthusiasm that's actually out there in the market as well.
04:30And I think a large part, and I think, David, you've really touched on this with the data piece, a
04:34large part of that is because we've reached a nice juncture where the commercial sentiment and the technology that powers
04:46those commercial decisions is actually catching up with the shifts that we've been seeing on the consumer side.
04:52You know, if I think about streaming, for example, which is very much a core part of our offering at
04:58NBC, we've been seeing that consumer shift to streaming for a long time, but it's been difficult for the industry
05:05to really figure out how those dollars can follow those eyeballs.
05:08And now we're getting to a point where more and more services that previously perhaps haven't had advertising, haven't given
05:17brands an opportunity to advertise around those eyeballs, are switching on advertising and figuring out a way to monetize those
05:25environments.
05:26I mean, we're in quite a privileged position because with Peacock, our streaming service in the US, we have been
05:32hybrid from day one.
05:34And what we have tried to figure out throughout that journey and what we're trying to do day in, day
05:39out as that demand grows is understand not just how content is core to that growth story, but actually how
05:48we surround that content in a way that makes sense for that environment and those new behavioral patterns.
05:53You know, whether that's with things like binge ads, you know, whether that's with things like binge ads or pause
05:56ads, creating ad innovation that allows us to shift away from the standard digital formats that we've all become useful,
06:05used to.
06:06So it's a really exciting moment.
06:09And as all of that's happening, particularly with the data piece that David talked about, we're kind of democratizing that
06:15landscape as well.
06:16And we're seeing growth, not just because the big brands are excited to follow those trends, but actually because with
06:23data and programmatic and those new transaction methods, we're allowing some of the smaller brands to come into linear environments
06:31that they would never have had access to before.
06:33Yeah, maybe I'll go next.
06:35So from our perspective, there's two areas to cover.
06:39One is we started with, like, the shopability of, and the ability to shop on our platform, and the second
06:46thing is new audiences in the form of Gen Z.
06:49So I'll start with the first one.
06:51You know, Pinterest sits on this intersection between search, social, and commerce, but historically we were very good at upper
06:59funnel, awareness, inspiration.
07:01So this was this amazing window shop where you come, but the shop was closed.
07:05And as we are opening the shops, but in a personalized way, filled by AI, which we'll talk about later,
07:14is how do you create that very personalized version of Pinterest for whoever comes in?
07:20And so it can be wherever you are in the journey.
07:23So if I'm beginning of the journey, like, you see a very different version versus if I'm much lower in
07:30the funnel.
07:31And we've integrated shopping in the core surfaces of the platform, so effectively there'll be more ads on the platform,
07:40including most recently we launched a shoppable video, which, again, is interesting.
07:43Like, you see something, and then immediately you're able to shop what you see straight there and then.
07:48What has been fascinating is that as we've driven ad load up, our engagement has gone up as well.
07:56So users are seeing those ads as content.
08:00In fact, that's probably my favorite question when people find out I work at Pinterest is, well, where are the
08:05ads?
08:05Like, how can I see the ads?
08:07Because there's been this conversation, like, are ads additive?
08:10And I think, you know, it's absolutely the case that ads are additive in the right environment.
08:16And then the separate thing is, you know, Gen Z, we've seen a very different engagement from that audience.
08:21It's an audience that browses, shops, very different than any other before.
08:26So for us right now, they're by far our biggest and most engaged audience.
08:30Over 40% of our users are now Gen Z.
08:33But what they're looking for is even further personalization, like further ability to refine their taste.
08:40So we have a product called collages, which is you take a hat from this picture, the shoes from that
08:46one, the dress from this one, and you curate it.
08:49And really that allows them to really define their taste, which in turn allows us to understand it even better
08:56and serve them more relevant content.
08:5970% of collages are created by Gen Z, which is just, I was just amazed by that.
09:04And they engage significantly higher with that surface.
09:08Yeah, we, it's interesting, when you think about Deliveroo, you don't necessarily think of it as an advertising platform.
09:15And, you know, it's a company that's just over a decade old.
09:19We launched into advertising in 2021 and have kind of progressively ramped up on that.
09:25But it's a very similar picture, actually, in terms of, you know, A, because we put so much interest in
09:31making sure the consumer experience isn't damaged by that,
09:34but we actually see the enhancement with it.
09:36That's obviously very attractive to advertisers.
09:38But when we think about it a lot, I always kind of go back to actually what we're there to
09:43do.
09:43And to me, that's what makes us most interesting to the sector, I think, is we're kind of like a
09:49moment's business.
09:49And if I think about Deliveroo, really our positioning is, you know, how do we enhance somebody's moment, whatever they're
09:56doing?
09:56And that might be that they just want more time back so they can, I don't know, spend it with
10:00the family or, I don't know, help somebody celebrate more.
10:03And I think the way I think of it is we're kind of like a matchmaking service between an advertiser
10:08and a moment and just helping them kind of bring that in.
10:11And like you say, like as a new channel and how you build that into a whole funnel, that starts
10:18to be quite interesting when you piece it together in terms of your whole ecosystem.
10:22Great. Thanks, Adam. And some really diverse perspectives there are the different parts of the advertising ecosystem, you know, streaming,
10:30retail, the impact of the Gen Z community and how they're engaging with content.
10:34And then the importance of proximity to the customer and, of course, the AI evolution.
10:39And so I'd love to shift this a little bit to take on this topic, really acknowledging that it is,
10:45you know, very complex out there at the moment to navigate, particularly for marketers.
10:49If you think about regulatory changes, you know, cookie deprecation, potential signal loss, a lot of the ways that traditionally
10:56and digital that businesses are marketing is going to change over time.
11:01And I want to dig into that topic to sort of perhaps help our audience here on how do they
11:05ensure that they stay relevant and continue to be successful in the trend that you mentioned right at the beginning,
11:12which is marketing demonstrating return and business impact.
11:17And things are changing. And we're seeing, particularly at LinkedIn, the buying group is getting more complex, is getting, you
11:23know, sort of, it's changing all the time.
11:25The buying cycles are increasing. And so help us understand, like, you know, how are we going to navigate that?
11:31And I'd love to start again perhaps with you, Adam, this time. I know you're sort of passionate about this
11:35change in the measurement ecosystem,
11:37but perhaps not getting too caught up in that and acknowledging that, you know, we need to still balance that
11:44with the marketing fundamentals which have worked for many, many years.
11:47Yeah, I think that's it. Don't get me wrong. Performance transparency is of absolute kind of paramount to us.
11:57If you think about our platform and the different types of advertisers that we have that we engage with, you
12:03know, we have to be able to, at the kind of enterprise scale, talk to McDonald's about, you know,
12:08here's how you fit this into how you measure your investment, all the way through to, I don't know, like
12:14a local independent pizza restaurant where the, you know,
12:17the specialism there is making incredible food versus, you know, maybe plugging econometric models and that kind of thing.
12:24So we definitely think about it in both ends of the spectrum. I do think, though, on this topic, it's
12:29really easy to go down very, very technical rabbit holes very, very quickly.
12:34And, you know, I always talk with our team about, look, it's fine that we do that, but don't kind
12:39of lose sight of the, you know, the wonderful marketing fundamentals that, you know,
12:43plenty of generations before us have kind of left for us to kind of engage with and learn from.
12:49And so for me, I think that's a big thing is, you know, for one, you have to start there
12:54in terms of building the capabilities of the teams that we're working through,
12:59how we just really apply that consumer closeness into everything that we work through first.
13:05You know, there is sometimes so much danger of running down certain holes where you can see that maybe the
13:11insight work that a marketing strategy has been informed on hasn't been formed first.
13:15So for me, I think that's, it's that balance of how we make sure that, I don't know, you know,
13:21the future kind of marketing leaders that we've got in our organization are well versed in the principles and the
13:26fundamentals and equally incredibly literate with performance data and just finding ways to bring those both together.
13:33Yeah, that's great. Thank you. Yeah, I think all of that is true that the fundamentals piece is something I
13:42think we're all thinking about at the moment.
13:45You know, when we were in the world of cookies and we all felt very comfortable in the world of
13:50cookies, I think it created a bit of a false sense of security.
13:54You know, we felt that we really understood how people were navigating this online world and now we have to
14:00do a bit of a reset and a rethink and figure out how that is changing.
14:05And exactly as you say, that comes back to fundamentals, making sure you know your audience, you have the appropriate
14:13tools to think about them in that planning process and make sure that that transparency is not just happening in
14:20a post campaign report, but actually that it's kind of baked into that upfront planning DNA.
14:27We try and build tools in-house all the time that allow our brands to do that. So as they're
14:33navigating these very complex multi-channel, multi-platform environments, they have kind of a single access point to understand where
14:43an audience group is likely to be consuming in any given moment, because as you say, we are a moment's
14:49business.
14:51So we've created a tool that, whilst it sounds very complex because it uses our first-party data and it
14:58takes our advertisers' first-party data and it combines it all in a clean room and then it layers in
15:04predictive analytics and machine learning and everything else that's going to be a buzzword this week, I'm sure.
15:09I'm sure really what it is, is an optimiser to make sure that we're figuring out where that audience is
15:16going to be on linear or digital and serving the ad at that right moment in time.
15:20So I fully agree with everything you're saying. It is kind of back to basics, but leveraging those technologies that
15:28we have in the process.
15:29Yeah, and perhaps managing the complexity with these tools to still make the simple insights to make decisions.
15:37Milka, I know at Pinterest there's been a lot of investment on this side as well. I'd love to understand
15:42more.
15:43Yeah, I think there's two topics in that question. First is targeting and then measurement.
15:48I think on the targeting side, we think we're well positioned because of the strength of our first-party signals.
15:56And again, how do we train the AI on those?
16:00So we have half a billion people that come and tell us what they like, what their interests are, and
16:07they refine their tastes.
16:08So they spend hours and hours clicking, saving, searching. So we integrate that into the targeting capability.
16:13But on the measurement side, I think it's where it gets much more complex.
16:17So Accenture did a research last year. Now it's US, UK and Brazil. So if everybody here feels that's not
16:24representative, just keep this in mind.
16:2845% of advertisers have seen deterioration on their campaigns because of cookie deprecation.
16:35And yet only 8% understand the upcoming changes to feel ready for them. I mean, it's 8%.
16:42It's absolutely unbelievable. And I think it just blows my mind, you know, how unprepared in a way we are.
16:51So what we're seeing is this coming back to basics. We're seeing increasingly clients are using MMM, which historically has
17:00been used by CPG brands.
17:01And now we're seeing e-com players, you know, incorporating that. So it's a much more complicated, in a way,
17:06measurement system where you're trying to triangulate different measurement tools in order to make decisions which you have to balance
17:14long-term, you know, short-term.
17:15You know, we have spent over the last few years, you know, a lot of investment on meeting clients where
17:21they are, integrating with different measurement partners, you know, from how can we give them the self-serve ability to
17:28take the data and put it into the MMM.
17:30On the lower funnel, you know, conversion API, clean rooms, so that that conversion visibility is protected, and then they
17:36can feed that into their models, and again, optimize to what they need.
17:41But in a way, it's become more complex, and yet models like MMM, you know, and others are coming back.
17:49Yeah, absolutely. David, perhaps you can help us understand, I know you're very close to the CMO and agencies, what
17:54are you saying?
17:55We come at this from a different place. I mean, the other panelists either have direct relationships with consumers or
18:01own their own content.
18:02So where we come at this as a software platform that helps large enterprises to more efficiently and effectively manage
18:10their marketing.
18:11Today, our platform is embedded into 5.2 million publishers as a first-party part of their technology ecosystem.
18:20So we don't use a third-party cookie, and we never have. We use a very, very complex thing we
18:27call the Zeta ID.
18:29Obviously, that was Marketing 101 and calling it that.
18:33But when you look at the Zeta ID, we're able to do a lot of what they talk about, where
18:37we build what's called a CDP or Consumer Data Platform.
18:40We can build it inside of a Snowflake or other partners where you have clean rooms.
18:45We bring our clients first-party data. We then append it with our data cloud, which today has over 550
18:52million opted-in individuals that allow us to see them across the 5.2 million publishers.
18:58So, to their point, measurement and, you know, targeting are very, very different things.
19:05And I think that there's a different ecosystem there as you think about where it's going.
19:11You know, you've got a lot of people who, and I think she's totally right.
19:14I won't attempt to pronounce your name because I'm sure I'll do it wrong.
19:17But you've got a lot of people that we say are deers in the headlights here.
19:21They just don't know what to do next.
19:23And I think Google has figured out.
19:25They don't really need to kill the cookie.
19:27They're just going to make it easier and easier for the consumer to opt out.
19:31So they can look good on every front, but it's going to continue to deteriorate,
19:36which is going to create more problems for a lot of customers around how do they target and how do
19:43they measure.
19:43And you can work with great platforms like are represented on the stage where they control their first party relationships,
19:51which is going to allow them to have a disproportionate capability against everybody else is sort of talking about contextual,
19:58which to me is sort of back to the future, right?
20:01So it's like, oh, we're going to buy based on what somebody is reading in that very second with no
20:07ability to show the return on investment
20:09and no ability to really prove out how the models worked.
20:14You know, I'm not here to do a Zeta infomercial, but we sort of don't believe in that strategy.
20:19We believe in the ability to take first party data, merge it, make it actionable and then be able to
20:26measure it.
20:27We then plug into the CRM system to give 100%, you know, full capabilities around measurement.
20:34And there are other companies that do that.
20:35And I think that the organizations on the stage do an exceptional job because they know who their customers are
20:42and they know how to target them directly.
20:45Organizations that don't have access to that first party data are going to have a real problem going forward, in
20:53my opinion.
20:53And I think you're going to see organizations that can deliver true measurability and the ability to show return on
21:00investment
21:01are going to continue to grow in the marketplace while others might struggle.
21:05Yeah.
21:06And so, you know, we've had a prediction on the future of Google's strategy on the cookie there, David, which
21:12I love.
21:13But I think just by this conversation of you've got the advertising ecosystem here, really, you can see the complexity
21:19that we're perhaps shining a light on.
21:22But the fundamentals of marketing are critically important.
21:25Continuing to demonstrate ROI is going to be critical to continue to power sort of advertising.
21:30But I agree, Milka, on the sort of that urgency that's required to make those changes.
21:36And that's why we're continuing to kind of talk about this topic.
21:39It's that moment where we can now turn our attention to AI.
21:42And so you've waited patiently.
21:45So obviously AI and specifically generative AI is the big topic here at VivaTech at the moment.
21:52We know that AI is nothing new.
21:54You know, LinkedIn have been really using the sort of AI as part of the way we've built our platform
21:59really for the past 15 years or so.
22:01But of course, we've seen this paradigm shift in the capability of the technology, which is incredibly exciting.
22:07And I think what I'm really interested to sort of dig into is how do we get beyond the hype
22:12into some really sort of productive, practical executions in the world of marketing that advertisers can really leverage.
22:21So keen to perhaps come to Pippa first.
22:23I know we were talking earlier on about you've got this way of sort of almost inferring motivations, if I'm
22:28understanding it correctly, via generative AI tools.
22:32So perhaps you could help us understand one of the ways you're using this relatively new enhancement of AI.
22:38Yeah.
22:39After the dinner I had last night, I'm conscious that I might be the least qualified person at VivaTech to
22:44talk about AI.
22:45But I will give it a bash because, I mean, we're all excited about AI, right?
22:51It's probably why most of us are here this week and we're using it in a myriad of different ways.
22:57The planning and optimisation that I talked about already is one of the ways that we're bringing in AI.
23:02But on that sort of targeting piece and motivations, we are starting to try and leverage generative AI actually to
23:11build a much deeper understanding of who our audience is and therefore being able to pair our brands alongside the
23:22audiences that really are going to be responsive.
23:24Because, I mean, I think Adam's made this point really well, advertising at its core is about forging connections, right?
23:32It's about finding those right moments and building that connection and hoping that it's going to be a long lasting
23:38one.
23:38So, we have started to try and think about audiences not as data sets.
23:45You know, we all sit in these conferences and we hear data, data, data.
23:49What we don't hear a lot of is people.
23:51Who are the people within those data sets?
23:53And people are really complex individuals.
23:57You know, everyone has different interests and different experiences and different understandings and all of that, you know, if you're
24:05in an international business, all of that is additionally complicated by things like geographies and cultures and everything else that
24:13we need to be mindful of.
24:15And so, we are starting to use generative AI actually to analyze the emotional tone of every piece of content
24:22that we create and distribute.
24:24That's awesome.
24:24And then match it.
24:26I'm really glad you said that.
24:27I think it's awesome as well, Adam.
24:29I think it's great.
24:30And then match it using all of our first party data to try and determine actually what motivates an individual.
24:37What are they coming to our platform for?
24:39How are they feeling in that moment knowing what kind of content they are tuning into right in that given
24:47part of their day?
24:48And obviously, the platform that they're tuning into also dictates how they're feeling and how motivated they are.
24:55And ultimately, we are then able to align them with a brand that makes sense for that feeling and that
25:01moment in their consumer journey.
25:03And then when you add in things like shoppable, as Milk has brought in, you know, you can kind of
25:07collapse that funnel even further and bring them closer to the brand in the moment when they actually have that
25:12connection.
25:13So, I'm really excited about what AI is going to mean from that actual connections point of view.
25:20That's a great example.
25:21Thanks.
25:22Maybe I'll continue this.
25:24So, we've leaned quite intensely into Gen AI over the last couple of years.
25:28And we're using it to drive relevance and personalization.
25:33So, you know, we're using large models and they've increased over the last two years.
25:38But what we're tuning the AI for is not view time in the moment, but more really understanding the user's
25:46intent and more importantly fulfilling the intent.
25:49So, understanding, you know, clicks, conversions, saves, all of that.
25:54And then we have this additional signal that's so unique to our platform, which is the human curation.
26:01Like people are organizing all their, whether that's video, whether that's pictures, into all these boards and they name them.
26:08And so, we have this very unique understanding of their taste.
26:12And what that's doing is creating more relevant content for every individual, which in turn creates increased signal for the
26:22AI to train on, which then creates even more relevant content.
26:25So, it creates this flywheel, which basically you're driving really like a more personal experience and, again, relevance.
26:30And we have seen 10% lift in relevance and 30% in search relevance over the last year.
26:39The other thing we use AI for is for our advertising partners and how they manage their campaigns on the
26:45platform.
26:46So, that is from, you know, creation, optimization, et cetera.
26:50You know, we already have some products like automatic bidding, flexible budgets, et cetera.
26:58But there's such a runway for us to bring that automation even further.
27:03In the next few months, we'll be launching products.
27:05One I'm particularly excited is dynamic creative optimization, which is, you know, it is what it sounds like.
27:12You give us the creative, we use AI.
27:14But, again, what's unique here is, over time, we'll be able to use those signals of how each individual user
27:21is using Pinterest.
27:23And we can tailor the creative to their individual taste and aesthetic.
27:28And that brings that personalization, you know, even further.
27:31So, really, our ambition is for an advertising partner to give us budgets, give us your KPI, give us your
27:37seed creative, and we'll manage the rest.
27:39And I totally agree with HIPAA and MICA.
27:43I mean, what they've said is right on.
27:46And what you said originally, you know, at Zeta, much like LinkedIn, Microsoft, we've all been using AI for 10,
27:5415 years.
27:55We just used to call it machine learning.
27:57And we used to call it natural language processing.
27:59We've now moved from NLP and machine learning into what, you know, we're lovingly calling AI.
28:06I always joke over a bottle of wine, we could talk about whether we've really created a level of intelligence
28:11or just, you know, much more complex machine learning.
28:14But the reality is, we rolled out a thing at Zeta where we are allowing our enterprise clients to build
28:21their own agents.
28:22It's the first that I'm aware of.
28:25And we rolled it out because we find that most enterprises don't want their exhaust data feeding out of the
28:32large language models into the collective.
28:35So, we've sort of solved for that once again using the CDP.
28:39In the first week, we had over 300 enterprise clients building agents inside of it.
28:46Thousands of use cases.
28:48One in particular automated the onboarding function for a client and cut 800 hours of work with one intelligent agent
28:58built.
28:59So, you know, when you look at most technology evolution, whether it was the Gutenberg printing press, the telegraph, the
29:06telephone, the computer, it starts with massive infrastructure investment.
29:11Right?
29:12So, you look at NVIDIA.
29:13Why are they up 262% this year?
29:16Because you have to have their chips.
29:17Then it moves into efficiency.
29:20And now what we're doing in marketing is we're very, very focused on marketing efficiency.
29:25Yeah.
29:26How do we help our enterprise clients spend the same amount of money, certainly not less, but get more for
29:32it?
29:32Yeah.
29:33Right?
29:33And then it moves into revenue generation.
29:36And if you look at the evolution of almost all technologies, we're sort of in that first stage going into
29:42that second stage.
29:44And I do think the generative AI is going to change the game in the way the internet changed the
29:51game as it relates to the advertising ecosystem.
29:54Yeah.
29:54I think we're seeing that at LinkedIn as well.
29:56There's sort of two early wins in this new technology space is productivity and efficiency.
30:01And so you can build a campaign in our campaign management tool would take, on average, 15 hours.
30:06Now it can take five minutes if you want to leverage it.
30:09Right.
30:09And then, as Milka was pointing out, those return on ad spend gains because of the technology for everything from
30:14predictive audiences right through to the measurement.
30:16Well, your parent company is certainly doing a good job on AI.
30:18Yeah, yeah, yeah.
30:19Absolutely.
30:20And so, Adam, I want to bring you in.
30:21I know machine learning in particular is something you're so passionate about.
30:25I think the interesting thing for us is kind of starting with the problem and working back.
30:29So I think of, you know, Deliveroo, you know, a big problem that we've always wanted to solve and we
30:35continue to iterate on is just how do we get, how do we optimize that delivery journey?
30:40How do we make sure our models are predicting how long food's going to be kind of prepared for?
30:46How do we make sure we send the riders at the right time?
30:48How do we optimize their journey?
30:49So we've always invested pretty heavily in machine learning to do that.
30:53So we're clearly very excited about kind of where I can take us.
30:58But I guess where we always start with this is what's the problem we're trying to solve first?
31:03And then working through back from that, okay, well, is AI appropriate for that or not?
31:07In some cases, it will be and it will be the best thing for us that we could do.
31:10In some cases, there may be some other solutions that we're going to work through.
31:13I think from a, you know, with my marketing head on, a place where I'm really excited, I guess it
31:19links to your point, is the where this can take us in terms of creative effectiveness and where this can
31:24take us, you know, particularly just come from a conversation today on pre-testing and just how much faster that
31:30can maybe get, how much more accurate it can get.
31:33So, yeah, lots more to come from us, I'm sure.
31:35Yeah, I love the reframing there of actually it's the problem you're trying to solve and then figuring out like
31:40actually rather than what are we doing with Gen AI, which I think is a really good way to position
31:45it.
31:45So to bring us kind of towards a close, we've discussed about this advertising renaissance.
31:51We've covered measurement, ROI, you know, AI, of course, creativity, a bunch of different topics, like how do advertisers, how
31:59do brands prioritise investment in what's becoming an increasingly crowded marketplace?
32:05And perhaps to finish, I'll come with Tamilka first on this particular topic, but I know you're sort of passionate
32:10about trust, the sort of impact on the C-suite.
32:13And of course, you mentioned MMM earlier as well.
32:16But I'd love to understand, like, what are you seeing?
32:18How are you helping marketers make these decisions and prioritisations?
32:21Well, it's a very complex world.
32:23Yeah, I agree.
32:24As much as we tried to simplify it in the last 30 minutes, it's a very complex world.
32:29And increasingly, you know, the board is looking at prove the ROI, prove that this channel works.
32:34Yeah.
32:34So it is complex.
32:35I think what marketers have to think about is that short term, long term, how do you balance the two,
32:39but making sure that you prove the ROI.
32:42And then trust comes in as, you know, marketing is a force for good, can be a force for good,
32:48advertising can be a force for good.
32:50You know, and I'm personally very passionate about that.
32:53You know, at Pinterest, we are trying to create a more positive internet.
32:57But outside of the nice thing about it, it's also the opportunity to, we have a research that shows that
33:03when advertising shows in a positive environment, users are more likely to remember, trust and buy from that brand.
33:10So it is, in a way, a business imperative.
33:12But it's a complex world which we're trying to simplify and it's not easy.
33:17Yeah.
33:17Well, it's funny because most people want this incredible basket of information.
33:22They want great news.
33:23They want accuracy.
33:25And then they get mad about marketing.
33:27None of that exists without good marketing.
33:29Yeah.
33:29Right?
33:30So when you think about the world we exist in, you're much better off giving somebody something they're interested in
33:37than something they're not.
33:39Yeah.
33:39Right?
33:39And when you think about AI, it's gone from sort of a science fiction conversation to boardroom conversation.
33:45And the board is saying to the CEO, what's the AI strategy?
33:48The CEO is going down and screaming at the CMO, what's the AI strategy?
33:53And then we all get called.
33:55And, you know, we've got to come up with a solution that allows them to better target, create trust, create
34:02better return on investment for our enterprise clients.
34:05And often we're sitting in the middle trying to do that in a world where without it, the vast majority
34:12of information that is disseminated to humanity goes away.
34:16Yeah.
34:17Yeah.
34:18I mean, I think all of that is right.
34:21But it's interesting that we sort of start at trust and then we end up coming back to Gen AI.
34:28I sometimes feel when we have these conversations that we forget how many Gen AIs there have been before.
34:34Not in terms of the technology itself, but in terms of the thing that we all need to invest in.
34:39You know, we all have to invest in mobile.
34:41Everyone we want to reach is on mobile.
34:43We all have to invest in CTV.
34:44Everyone we want to reach is on CTV.
34:45Now it's Gen AI.
34:47We've all got to invest in that.
34:48That's what's going to solve our problems.
34:50And actually, I think because that is becoming so complicated and there is this, you know, wild world of different
34:58things that we have to be investing in.
35:01It sometimes feels as though we're in this constant kind of test and learn scenario.
35:06And I am certainly feeling from the conversations that I'm having with agencies and with brands that people are starting
35:13to revert back to just who do I trust working with?
35:16And actually, who do my consumers trust as an end content provider?
35:22You know, we're building a, I'm going to talk about CTV now.
35:26We're building a CTV.
35:27I thought that was the last great thing.
35:29Yeah.
35:30We're a step behind, but we'll integrate AI at some point, I promise.
35:34We are aggregating premium video broadcasters now so that we can kind of create a scaled premium video marketplace because
35:42when we do look at CTV, scale is the big problem state for our brands outside of the US.
35:48And as we've been doing that and we've been, you know, obviously doing a lot of research with consumers, what
35:54we hear time and time again is that those historic heritage broadcasters are who they want to come back to.
36:0170% of viewers say actually they trust a heritage broadcaster and therefore a brand who appears in that environment.
36:09So I think we're kind of seeing things come full circle and businesses leaning back on those relationships.
36:16Yeah, I like that full circle point.
36:18I worry when I say some things, I sound like a Mr. Marketing Theory or whatever, but I, I don't
36:26know, I always come back to just, you want to invest in something, invest in customer closeness.
36:29Just really, really deeply understanding consumers, move your organization around it.
36:35If I think of what we've done recently, we've taken our global marketing organization and pushed it together with our
36:41product organization, you know, which has historically been a kind of tech org.
36:46And the reason for doing that was just so that we could make sure we had a really good line
36:50of sight end to end between our positioning and the actual final product and experience that somebody has with us.
36:57And kind of without that, we felt that we couldn't quite, I don't know, own those moments fully.
37:02So for me, I think that's the kind of big investment is the, you know, the insight, the consumer closeness,
37:08how you really own end to end.
37:11So yeah.
37:12Love it.
37:13Thank you, Adam.
37:13We're going to bring it to a close.
37:15Hopefully, you've been able to learn more about why there's this advertising renaissance out there, the proximity to the customer,
37:22the absolute focus on continuing to create return in the world of marketing, but also in this world of trust
37:29as we launch into this new phase of generative AI.
37:32So we've covered a lot of topics.
37:33I just want to take a moment to say an enormous thank you to this panel for joining us today
37:37and walking through it.
37:42Thanks very much.
37:46Let's get to the bar.
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