Monday 26 February 2024

W7Worldwide report

'AI to contribute $136bn' to the Saudi economy by 2030

JEDDAH, November 8, 2023

AI has the potential to contribute a staggering $15.7 trillion to the global economy and SR511 billion ($136 billion) to the Saudi national treasury by 2030, said PR consultancy firm W7Worldwide citing PwC.
AI is conferring significant benefits upon the public relations industry also, according to a report titled "The Role of Artificial Intelligence in the Public Relations Industry" published by W7Worldwide, a prominent homegrown marketing communication agency based in Saudi Arabia, 
It empowers professionals to analyse vast datasets, identifying trends and patterns that enhance their understanding of target audiences. This data-driven insight, in turn, facilitates the optimisation of social media campaigns, identification of potential influencers, measurement of PR effectiveness, and prediction of forthcoming market and business trends.
AI chatbots
Beyond this, AI chatbots and virtual assistants, like "ChatGPT," enhance user experiences by handling a spectrum of tasks, from responding to customer inquiries and scheduling appointments to even conducting interviews. This delegation of routine tasks liberates PR professionals to concentrate on higher-level responsibilities, such as strategy development and media outreach.
Content Creation: The report underscores AI's role in crafting PR content and refining its delivery to specific audiences, guided by data on customer preferences, purchasing behaviors, interests, and optimal communication channels and timings. AI-powered writing tools excel in producing press releases, posts, blogs, and other written content with remarkable accuracy. However, it is essential to note that these tools, while invaluable in specific scenarios, have yet to attain the sophistication required to replace human writers entirely.
Challenges and Concerns: The report addresses challenges and mounting apprehensions regarding AI's impact on the PR industry. These include concerns about job displacement due to automation, the generation of misleading or fraudulent content necessitating rigorous fact-checking, and ethical considerations in AI application, particularly concerning data privacy and bias.
PR adaptability
The report underscores the adaptability of the PR industry, which has previously navigated the digital revolution. PR professionals have demonstrated their ability to thrive in an ever-evolving landscape and can replicate this success with AI. This involves staying informed about the latest AI technologies and applications, understanding their functioning, and harnessing them to enhance their business and maintain industry leadership.
W7Worldwide advises PR professionals to acquire new skills, enabling them to effectively utilise AI-powered tools and software while addressing potential challenges. It further encourages vigilance in monitoring emerging industry trends, especially in the continuously evolving PR domain.--TradeArabia News Service


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