This article cites a Forrester report which forecasts that advertising agencies will need to adopt AI and automation to be able to do more but with a reduced workforce in 2021.
By 2023, 11% of ad agency and media tasks could be automated. This figure would be 23% for an overall agency by 2032.
A shrinking agency workforce would be an encouragement to entrepreneurialism as the former agency personnel would start their own ventures to deliver ad and marketing services. Further, the number of small-and mid-sized marketing, ad tech and martech providers will grow by at least 5%.
Amid disruptions, agencies would divert human resource leaders into more strategic roles to help structure the agency to better serve marketers. Another Forrester report predicts that B2C marketers would spend 15% more than current towards loyalty and retention marketing.
[3 minute read]