W7Worldwide Forecasts AI's $136 Billion Impact on Saudi Treasury

W7Worldwide Forecasts AI's $136 Billion Impact on Saudi Treasury

By Staff Writer, 10 November 2023

PR consultancy firm W7Worldwide, citing PwC, has forecasted that Artificial Intelligence (AI) holds the potential to inject a staggering $15.7 trillion into the global economy by 2030.

In addition, the firm estimates that AI's $136 billion impact on Saudi treasury by revolutionizing PR.

W7Worldwide, a leading Saudi marketing communication agency, has unveiled a comprehensive report titled "The Role of Artificial Intelligence in the Public Relations Industry," highlighting the significant advantages AI is bringing to the PR sector.

The report emphasizes how AI is revolutionizing public relations, providing professionals with powerful tools to analyze vast datasets.

This capability allows for the identification of trends and patterns, ultimately enhancing the understanding of target audiences.

Deeper Into AI's $136 Billion Impact on Saudi Treasury

Leveraging data-driven insights, PR practitioners can optimize social media campaigns, pinpoint potential influencers, measure the effectiveness of PR efforts, and predict upcoming market and business trends.

AI-powered chatbots, including notable examples like "ChatGPT," are also featured in the report.

These virtual assistants are reshaping user experiences by efficiently handling a wide range of tasks, from responding to customer inquiries and scheduling appointments to even conducting interviews.

By delegating routine tasks to AI, PR professionals can redirect their focus towards higher-level responsibilities, such as strategic development and media outreach.

Content creation emerges as a key area where AI is making a profound impact.

The report underscores AI's role in crafting PR content tailored to specific audiences, guided by data on customer preferences, purchasing behaviors, interests, and optimal communication channels and timings.

AI-powered writing tools are showcased for their remarkable accuracy in producing press releases, posts, blogs, and other written content.

However, the report emphasizes that while AI tools are invaluable, they have not reached the sophistication needed to entirely replace human writers.

Other Impacts of AI Growth

Challenges and concerns surrounding AI's impact on the PR industry are also addressed in the report.

These include fears of job displacement due to automation, the generation of misleading or fraudulent content requiring rigorous fact-checking, and ethical considerations concerning data privacy and bias in AI applications.

Highlighting the adaptability of the PR industry, the report encourages professionals to acquire new skills that enable them to effectively utilize AI-powered tools and software.

It underscores the importance of staying informed about the latest AI technologies, understanding their functionalities, and harnessing them to enhance business practices while maintaining industry leadership.

W7Worldwide advises vigilance in monitoring emerging industry trends, especially in the continuously evolving PR landscape.

Source: TradeArabia

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