Ad spend forecasts revised upward as more ad dollars are handled by AI tools

U.S. advertising spending is set to rise faster than expected this year, but so is the proportion of ad dollars spent through AI or automated campaign types like Meta’s Advantage+ or Google’s Performance Max . The Interactive Advertising Bureau (IAB) estimates that U.S. ad spend will grow 12.3% this year, up from its previous estimate of 9.5%. David Cohen, CEO of the IAB, said the upward revision was the result of strong spending around the Winter Olympics and soccer’s World Cup. “The first half was strong, major live events delivered, and advertisers have increasingly powerful tools in their arsenal to find and engage customers,” he said.…

This is a curated summary. The full story was reported by Digiday.