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1、AI IN ADVERTISING AND MARKETING Growth sectors While all industries are embracing AI,this powerful tool is really making its mark in the fields of advertising and marketing05M&A DEVELOPMENTS Focused approach When it comes to M&A,AI is still an early-stage market,with more interest in strategic acqui

2、sitions than large-scale consolidation“The AI genie is now completely out of thebottle and theres no way to put it back.Nowhere is that more evident than inadvertising and marketing.While todaydigital marketing has simply becomemarketing,over the next few yearsAI marketing will evolve to take its pl

3、ace.But getting there will require a lot of M&A,especially as the AI pace quickens.Keep up with this fast-moving sector with ournew series of Spot Ons covering AI,especiallyits impact on advertising and marketing.”JOHN MATTHEWSAI SPECIALIST,OAKLINSMARKET OVERVIEW Dramatic times A look at the current

4、 global situation with AI,and the extraordinary forecasts regarding its future0211PROLIFERATION OF TOOLS Strength in numbersSince the launch of ChatGPT,theres been an uptick in the generative AI tools appearing for marketers09“The AI genie is now completely out of thebottle and theres no way to put

5、it back.Nowhere is that more evident than inadvertising and marketing.While todaydigital marketing has simply becomemarketing,over the next few yearsAI marketing will evolve to take its place.But getting there will require a lot of M&A,especially as the AI pace quickens.Keep up with this fast-moving

6、 sector with ournew series of Spot Ons covering AI,especiallyits impact on advertising and marketing.”JOHN MATTHEWSAI SPECIALIST,OAKLINSAIs impact continues to rise,and advertising and marketing are embracing its powerSPOT ON|AI SERIES|NOVEMBER 2024The overall economic landscape for AI shows signs o

7、f a significant shift starting to take place,with value expected to transition in the AI tech stack from hardware infrastructure to application development.This mirrors the earlier evolution of the cloud industry,which has resulted in AI-powered cloud services now being at the heart of innovation.In

8、 addition,OpenAIs recent US$6.6 billion funding round and US$4 billion revolving credit line based on a valuation of US$157 billion highlight the critical position of foundational models and cloud AI services in the new AI ecosystem,which evolves around generative AI.They also demonstrate that AI is

9、 set to become a key driver of growth across many industry sectors.The global AI market,currently valued at US$638 billion,is projected to expand dramatically,reaching US$3,680.47 billion by 2034,with a compound annual growth rate(CAGR)of 19.1%.Leading this growth,North America today holds a market

10、value of US$198 billion,driven by substantial investments from tech giants like Amazon,Google and Microsoft.These companies are accelerating AI adoption,particularly in enterprise applications.Theyre investing heavily in laying down AI infrastructure and foundational technology,positioning themselve

11、s as AI hyperscalers at the center of the cloud AI ecosystems each is creating.2024202520262027202820292030203120322033203463875890010701273151718082157257530773681202420252026202720282029203020312032203320343,6813,0772,5752,1571,8081,5171,2731,070900758638AI market size(US$bn)Source:PrecedenceResea

12、rchCAGR:19.1%As we reflect on the evolution of AI,its clear that 2022 marked a turning point.OpenAIs ChatGPT dropped like a bombshell,catapulting AI into mainstream consciousness and culture.It wasnt completely an overnight success,however.This breakthrough moment was preceded by decades of fits and

13、 starts,including notable initiatives in the 1980s.Fast forward to 2024,and its undeniable that AI,and particularly generative AI,is poised to revolutionize industries worldwide.In this report,we provide a snapshot of the current AI market,then dive deeper into the impact of AI on advertising and ma

14、rketing.We also explore these sectors from an M&A perspective,looking at how we expect transactions to unfold from current early-stage deal activity.This is the first in a series of reports from Oaklins focused on AI in advertising and marketing.Join us as we get to grips with this unique moment in

15、the technology and business landscapes.Market overview2OAKLINS Spot On AI series November 2024Year202320242025Spending7.517.032.420232024202532.417.07.5AI INFRASTRUCTURE SPARKS INNOVATION AND INDUSTRY SHAKE-UPAccelerated development in AI infrastructure is driving new market opportunities,as firms a

16、im to overcome challenges and capture growth in a rapidly changing landscape.AI infrastructure is developing quickly,reshaping industries,driving technological advances and fueling a highly competitive landscape thats ripe for innovation and offers substantial growth opportunities.According to a rec

17、ent McKinsey survey,global AI adoption surged from 55%to 72%in just a year from 2023 to 2024,with professional services leading the charge.Nearly half of the organizations surveyed have integrated AI across multiple business functions,illustrating its widespread influence.While much of the attention

18、 currently being paid to AI is focused on cloud AI,its important to be aware that not all AI will be in the cloud.To comply with regulations and in certain cases to protect their intellectual property(IP),some organizations will implement on-premises AI,which doesnt send their data and IP to the clo

19、ud for AI processing.This will create new opportunities for those who can provide AI infrastructure and tooling for on-premises AI deployment where preferred or required(for regulatory compliance or to satisfy cybersecurity and data protection needs,etc.).It is becoming clear that the development of

20、 AI and cybersecurity are increasingly intertwined.Generative AI software spending is expected to rocket from US$7.5 billion in 2023 to US$32.4 billion by 2025,driven by fierce competition among tech giants like Google and Meta.This intensifying demand is in turn expected to spur a wave of acquisiti

21、ons,particularly of startups facing operational pressures.Major players will capitalize on these acquisitions to scale their AI capabilities and secure their dominance in this transforming market.Key players like OpenAI,Google,Microsoft,Amazon and Anthropic are well-positioned to lead this consolida

22、tion,given their expertise in foundational AI model development and cloud AI services.However,despite deep discounting of cloud AI services to stimulate the market and the development of pilots,enterprise AI,which often requires significant investment and infrastructure,remains expensive to implemen

23、t and scale,with only about 10%to 15%of enterprise pilots crossing the chasm into production so far.As the larger AI firms continue to acquire innovative startups,they will strengthen their ability to deliver complex,high-value AI solutions,reinforcing their leadership and ensuring long-term market

24、supremacy.Source:PitchbookGenerative AI software spending estimate(US$bn)201720182019202020212022202320247255505650584720Adoption of AI in at least one business function(%of respondents)Source:McKinsey Global Survey on AIMarket overview3OAKLINS Spot On AI series November 2024REGIONAL AI MARKET DYNAM

25、ICS North America currently dominates the global AI market with a 36.9%share,driven by its advanced tech infrastructure and the presence of major AI players such as Google,OpenAI,Microsoft,Anthropic,and IBM.The regions leadership is supported by substantial investments in AI across various industrie

26、s.Europe follows with a 25.47%market share,bolstered by strong government backing of key sectors like automotive and healthcare.This support is fostering innovation and enabling Europe to maintain a solid position in the global AI landscape.Asia Pacific is the fastest-growing AI market,propelled by

27、increasing investments and widespread AI adoption across industries such as automotive,healthcare,retail,and food&beverage.Companies like Baidu are leading the way,driving rapid expansion and positioning the region as a critical player in the global AI ecosystem.Market overview13.63%24.00%25.47%36.9

28、0%North America EuropeAsia Pacific Latin AmericaSource:PrecedenceResearchMarket shareAI sectorTailwindsHeadwinds Enterprise AI adoption Increasing deployment across industries boosts operational efficiency Cloud and infrastructure growth Expanding cloud infrastructure supports AI scalability Generat

29、ive AI popularity Growing interest in AI-driven content creation drives adoption Investment growth Strong government and corporate investments fuel sector expansion Data governance and security Concerns over privacy and data misuse persist Unclear ROI Difficulties in measuring AI-driven returns crea

30、te adoption hesitancy Competitive pressures Rising competition strains profitability and market shareKey drivers of the AI sector Corporate demand for automation Businesses seek AI to automate processes,improve efficiency and reduce costs across sectors Consumer demand for AI solutions Rising consum

31、er demand for AI-driven products and services is accelerating adoption,thereby boosting competition and financial performance Technological advancements Advances in machine learning,quantum computing and cloud computing are rapidly enhancing AI,giving adaptable companies a competitive edge AI-powere

32、d personalization Companies invest in AI to enhance customer engagement and ROI through targeted,data-driven experiences4OAKLINS Spot On AI series November 2024AI in advertising and marketingAlthough the use of AI in advertising and marketing is not new,since the appearance of ChatGPT and generative

33、 AI,its now having an even more significant impact,a pattern thats set to last.In particular,generative AI is influencing the creative side of advertising and marketing,previously largely untouched by AI,in areas like content creation and production which,along with software development,have emerged

34、 as the dominant use cases for generative AI.Applying it in this way is enabling more creative and personalized content to be produced faster and cheaper than before,making the process more accessible to a broader user base.AI REDEFINES ADVERTISING AND MARKETING EFFICIENCYChatGPT,Jasper and many oth

35、er AI tools,some very task-specific and others that are more general purpose or for handling overall workflows,are enhancing ROI for marketing by automating content generation and optimizing ad placements,resulting in more efficient,lower-cost campaigns and improved performance metrics.Such examples

36、 highlight how AI is reshaping these sectors and unlocking new opportunities for growth and innovation.This is helping drive a global generative AI market thats projected to reach US$1.3 trillion by 2032,as AI tools are used to streamline operations and boost engagement.Some other areas of marketing

37、 where AI is now having a more significant impact are customer contact centers and the broader customer experience,with more advanced personalization and increasing levels of AI automation improving efficiency.Advanced,predictive analytics,chatbots and voicebots are just some of the tools AI brings

38、to the table to better understand customer behavior,anticipate their needs and tailor interactions,all of which can ultimately foster loyalty and satisfaction.Significantly,while customer experience is often considered in terms of the digital context,such as websites or mobile apps,its actually much

39、 wider than this.It also includes interactions with contact centers,in-store shopping and so on.And this may be where there is the greatest opportunity to improve an audiences marketing experience through the use of AI.Generative AI tools and platforms used in advertising and marketing worldwideSour

40、ces:Statista,MarTechChatGPTMicrosoft CopilotGoogle GeminiMidjourneyJasperDALL-E 2Adobe FireflyStable DiffusionOther5.9%2.0%4.0%7.4%8.4%9.9%16.8%16.8%75.2%5OAKLINS Spot On AI series November 2024AI in advertising and marketingThe AI marketing sector is expected to soar from US$14.8 billion in 2022 to

41、 US$145.4 billion by 2032,propelled by a CAGR of 12.8%.ChatGPT leads the AI tool landscape in marketing with a usage rate of 75.2%,followed by Microsoft Copilot and Google Gemini both at 16.8%.Companies are ramping up their AI investments to capitalize on growth opportunities and enhance competitive

42、ness,particularly as generative AI market capitalization in advertising and marketing is projected to reach US$29.4 billion by 2025.AI in advertising and marketing(US$bn)Source:PrecedenceResearch2022202320242025202620272028202920302031203214.818.623.429.436.946.458.373.392.1115.7145.4202220232024202

43、52026202720282029203020312032145.4115.792.173.358.346.436.929.423.418.614.8CAGR:12.8%Advertising and marketing sectorsTailwindsHeadwinds AI enhances productivity and reduces costs in media production AI improves ad targeting,boosting ROI in advertising campaigns AI enables deeper data-driven insight

44、s,enhancing marketing efficiency and personalization Some brands are already stipulating to their marketing agencies that AI-generated content cannot be used in campaigns to avoid any IP infringement liability Data privacy regulations may restrict AIs impact on AdTech and MarTech strategies6OAKLINS

45、Spot On AI series November 2024AI in advertising and marketingFuture growth drivers AI-driven personalization Generative AI enables real-time,hyper-personalized ads,increasing engagement and ad spending Privacy-compliant targeting With third-party data fading,AI-powered contextual targeting and priv

46、acy-first solutions face rising demand Growth in emerging channels AI helps drive expansion and innovation in CTV,DOOH and retail media,creating new targeted ad opportunities AI-powered creative automation AI automates dynamic,scalable ad production while maintaining creativity AI in measurement and

47、 attribution AI improves real-time ad performance measurement,helping optimize campaigns and increase ROIMARKET INSIGHT:GENERATIVE AI A TURNING POINT FOR ADVERTISING AGENCIESAs already noted,Generative AI is starting to transform advertising by streamlining content creation,media planning and custom

48、er personalization,pushing agencies to evolve.Innovative challenger agencies are taking a lead in leveraging AI not just for operational efficiency but also for creating scalable,data-driven campaigns that deepen client engagement.By integrating AI into many aspects of their operations,challenger ag

49、encies using AI are already demostrating how agencies can provide customized and cost-effective solutions,positioning themselves as indispensable partners in an AI-driven market.Similarly,at the recent Advertising Week New York event,Horizon Media,the largest independent media agency,announced a par

50、tnership with AI company Akkio to apply generative AI to Horizons data ecosystem and media planning operations.As agencies seek to greatly improve the efficiency of their media buying operations,other such partnerships or even acquisitions in the industry are likely.Traditional agencies are also fac

51、ing mounting pressure as clients increasingly internalize creative work,supported by AI-driven tools.To remain relevant,ad agencies are pivoting from basic content creation towards leveraging the advantages offered by AI integration such as data analytics,AI-enhanced customer journeys,and strategic

52、media planning.A new breed of creative agencies are at the forefront of this shift,using AI to streamline operations and drive both creativity and efficiency,showcasing how smaller agencies can innovate by fully integrating AI into their business models.Meanwhile,many of the most creative agencies a

53、re experimenting with or embracing AI as part of their creative process to help shape and activate their ideas for clients.However,despite the clear advantages AI brings to ad agencies,a recent World Federation of Advertisers(WFA)report shows that 80%of global brands have concerns about them using g

54、enerative AI,particularly in terms of ethical and legal risks.This demonstrates that while AI offers significant opportunities,ad agencies must manage its integration carefully to align with client expectations and build trust.Agencies that not only adopt AI to drive personalization and efficiency b

55、ut also address these concerns transparently will emerge as trusted leaders,securing their position as key partners in an increasingly AI-driven advertising landscape.So,while AI may not push ad agencies out of the ecosystem,it will likely change their role.More critically,as is happening in other s

56、ervice industries,AI will disrupt existing business models:those based on billing for fee earners time will change to billing for outcome not service.This will lead to a reduction in the number of people working in the advertising industry,and a significant change of role for others who will be requ

57、ired to develop new skills to work with AI marketing and creative assistants,and increased levels of production and campaign automation.Those agencies that take the lead in these changes will survive,perhaps even thrive,and those that fall behind will struggle and may not last.7OAKLINS Spot On AI se

58、ries November 2024AI in AdTech and MarTechADTECH TRANSFORMEDAI enhances targeting,drives efficiency,and is fueling the next wave of digital advertising growth.AI has long played a role in the AdTech ecosystem,often being used to optimize programmatic advertising campaigns to achieve campaign goals.H

59、owever,generative AI is set to revolutionize AdTech,by driving even greater efficiencies,leveraging the capabilities of large language models(LLMs),allowing campaigns to be set up using natural language by replacing complex user interfaces,and delivering enhanced targeting precision and more persona

60、lized creative content,with the aim of achieving higher engagement and conversion rates.Digital ad revenue accounted for 68.8%(US$602 billion)of the global total in 2023,and is projected to grow to 74.4%by 2028.Much of this growth has been fueled by the increase in use of programmatic advertising an

61、d AIs ability to optimize ad placements,automate processes and deliver personalized content.WHATS NEXT?Several key trends and challenges are now shaping the AdTech landscape.The phase-out of third-party cookies looms ever larger,and as such,privacy-compliant solutions are gaining prominence,which is

62、 creating a shift toward first-party data strategies becoming essential for effective ad targeting.At the moment,the depreciation of third-party cookies is reducing the availability of data that has been used in the past for targeted advertising.However,as AI innovation moves forward and brands get

63、better at consolidating and cleaning up their first-party data,and making use of cookie replacement technologies like data clean rooms and privacy-compliant ID resolution,there will be continuing advances in ad targeting as well as growth in areas like contextual advertising,which is making a comeba

64、ck due to being enabled by more advanced AI capabilities.Ultimately,AI is positioned to be the core engine of future growth in AdTech.As companies continue to embrace AI-driven innovations,the industry is set for further efficiency gains and deeper consumer connections,laying the foundations for the

65、 next era of digital advertising.Global digital ad revenue(%share of global total ad revenue)Source:GroupM*2023202874%69%Global digital ad revenueCAGR:1.6%AdTech market size(US$bn)Source:PrecedenceResearch20232024202520262027202820292030203120322033203484610361268155219002325284634844265522163917823

66、2023202420252026202720282029203020312032203320347,8236,3915,2214,2653,4842,8462,3251,9001,5521,2681,036846CAGR:13.2%8OAKLINS Spot On AI series November 2024AI in AdTech and MarTechAI-DRIVEN MARTECH:THE NEW POWERLike AdTech,MarTech is undergoing significant change brought about by AI,as highlighted b

67、y the 2024 report from ChiefMartech and MartechTribe,which details over 3,135 AI-driven tools that are reshaping core marketing functions.The report highlights that marketers are not only automating content generation but also other key tasks like social media management and SEO,although content mar

68、keting dominates with 32%of AI-based GPTs focused on it.This shift is enabling marketers to streamline operations,enhance personalization and leverage deeper data insights,resulting in more effective,data-driven strategies that maximize ROI.Even non-technical users can now orchestrate complex campai

69、gns,boosting efficiency and delivering faster,smarter marketing outcomes that directly impact performance.MarTech GPTs 20242025Sources:MartechTribe,ChiefMartechContent marketingSocial media marketing&monitoringSEOCollaborationProduct managementSales automation enablement&intelligenceProjects&workflo

70、wVideo marketingOptimization personalization&testingAudience/marketing data&data enhancementEmail marketingSearch&social advertisingeCommerce platforms&cartsMobile appsLive chat&chatbotsAgile&lean managementOther1043654636670741411451601661681762042392621,0079OAKLINS Spot On AI series November 2024A

71、I in AdTech and MarTechThe rise of AI-first marketing agencies is quickly altering the traditional landscape,as these firms utilize automation and data optimization to offer faster and more customized work solutions at significantly lower costs.AI-powered agencies are increasingly outpacing their mo

72、re conventional counterparts,demonstrating measurable gains in efficiency and profitability.By automating key marketing tasks and improving revenue-per-employee ratios,these companies are scaling operations with minimal overhead.In the future,the MarTech sector will favor those who integrate AI-driv

73、en capabilities,setting the stage for M&A activity as larger platforms look to acquire these innovative firms to enhance their own technological edge.CONSOLIDATION IS CLOSE,BUT WONT BE IMMEDIATEThe MarTech industry is set for substantial consolidation,both through M&A and internal optimization.With

74、vendor saturation,a wave of transactions is expected as larger firms aim to streamline operations and reduce inefficiencies.Similarly,organizations are simplifying their MarTech stacks,opting for integrated platforms at lower costs and improve data cohesion.This consolidation will lead to fewer domi

75、nant players and leaner operations,presenting opportunities for strategic investments,particularly in firms that provide comprehensive,scalable solutions capable of enhancing enterprise-level performance.But this wont happen in the near future,due to the current heavy fragmentation(with numerous nic

76、he players,each offering specialized solutions that cater to specific needs)that clearly manifests the very embryonic phase the market is in.These smaller firms,although not aiming for market dominance,are filling gaps left by larger platforms and driving key advances in MarTech AI.This diverse ecos

77、ystem is delaying immediate consolidation,as the market continues to benefit from the range of solutions these companies offer,making the space ripe for continued innovation and future M&A.HOW ARE BRANDS USING AI TODAY?New research from the WFA highlights the growing adoption of generative AI in mar

78、keting,despite concerns about legal,ethical and reputational risks.The research concludes that to harness the potential of generative AI,brands must prioritize increasing their understanding of its implications,update agency contracts,develop responsible AI principles,and translate these principles

79、into market practice.By doing so,they can ensure effective risk management and initiate important conversations with their marketing agencies.Key findings:63%of brand owners are already using generative AI (gen AI)in their marketing strategies Concerns about gen AI use include legal,ethical and repu

80、tational risks(66%,51%and 49%,respectively)Lack of capabilities and AI maturity were also cited as major roadblocks to adoption(55%and 49%)Despite concerns,usage is rising:only 9%of brands have no current plans to use gen AI for marketing Most brands are still at the early stages of their gen AI jou

81、rneyGen AI use cases:Content creation(79%),content ideation(67%)and task automation(54%)are the most common uses Efficiency is prioritized over marketing effectiveness,with 70%using gen AI to save time or reduce costsAI-generated content in marketing assets:Only 40%of respondents currently use AI-ge

82、nerated content;a further 37%plan on doing so soon Most common applications include altering or enhancing real places/images/products(68%),generating product descriptions/copy(68%),and creating synthetic sounds/humans/voices(14%18%)Responsible AI principles:63%of brands have adopted responsible AI p

83、rinciples;the most popular are privacy,transparency,responsibility and respect for intellectual property rights Only 35%have translated principles into market practice;another 40%plan to in the near future10OAKLINS Spot On AI series November 2024M&A developmentsWhile the M&A market in AI is still in

84、 its infancy,the current focus is to acquire players with novel relevant technologies and high growth potential.However,as has been seen in the broader tech M&A landscape,a greater focus on efficient growth that values cost leadership and scalability is just a matter of time.The economics of AI comp

85、uting are becoming increasingly clear,with major players like Microsoft,OpenAI and Alphabet/Google offering deep discounts on AI compute to stimulate their ecosystems and capture market share.However,this pricing strategy is not sustainable indefinitely as pressure to achieve efficient growth increa

86、ses.OpenAI,for example,recently hired a new CFO and has indicated plans to raise prices over time as they continue to close the gap on achieving AGI(artificial general intelligence).While higher prices will bring increased capabilities,they will also raise costs for end users and developers,leading

87、to some degree of sticker shock as their use of AI scales up.Simultaneously,the AI hyperscalers must work on reducing their own AI compute costs to become profitable in a reasonable time frame.The current AI M&A market,however,is still primarily focused on acquiring growth potential,talent,technolog

88、y and IP,as large companies look to solve their efficiency and scaling challenges by bringing in innovative capabilities.Often,the targets for these acquisitions are companies that the buyers are already familiar with through partnerships or existing customer relationships.This is an early-stage mar

89、ket that is less about large-scale consolidation and more about strategic acquisitions that position the buyer for future growth.However,this will gradually change as the drive for market consolidation starts to take over from unfettered innovation,making companies who can combine enhanced capabilit

90、ies with a strong growth trajectory,cost leadership and scaling mechanisms into attractive targets for buyers.WHATS HAPPENING WITH M&A IN AI-ENABLED ADVERTISING AND MARKETING FIRMS?A similar narrative and positioning will emerge in other AI markets such as advertising and marketing.A proliferation o

91、f AI marketing companies and solutions has increased the pressure for market consolidation,to avoid hyper-fragmentation of the market and allow leaders to emerge.Without market consolidation,it seems likely those AI marketing companies that emerge as leaders will,rather than become acquirors themsel

92、ves,instead get cherry-picked by existing MarTech leaders like Adobe,Salesforce and Klaviyo to consolidate their position.M&A activity in AITailwindsHeadwinds Compelling growth story for the AI market AIs ability to drive down costs and improve efficiencies Increasing demand for personalization and

93、data-driven insights Rapidly growing market size for AI in both AdTech and MarTech Improving macro themes Rising AI compute costs as companies scale up their use of AI Regulatory and data privacy hurdles impacting AI adoption and integration Potential for IP disputes,particularly in content creation

94、 Returns on capital allocated not yet visible11OAKLINS Spot On AI series November 2024Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3181111151013710152312202220232024Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q389%73%73%60%70%62%71%90%73%74%67%11%27%27%40%30%38%29%10%27%26%33%202220232024MarTechAdTechGlobal advertising and marketing AI deal flow:

95、We expect 2024 to finish off at 2022 levels,as strong M&A momentum driven by growing interest in generative AI starts to drive the market as it moves on from its heavy early-stage investment phase.Vertical transactions%share quarterly development:MarTech M&A transactions have consistently been far i

96、n the leadSources:Capital IQ,Pitchbook,Oaklins analysisM&A developmentsDeal flow in numbersTotal transactions in 9M 2024AdTech transactions in 9M 2024MarTech transactions in 9M 2024Increase y/yDecrease y/yIncrease y/y40832+29%-20%+160%Financing activity highlightsTotal transactions in 9M 2024Capital

97、 raised up to Q3 2024PE-backed transactions 9M 2024VC transactions 9M 2024Increase y/yIncrease y/yIncrease y/yIncrease y/y426US$2.2bn23403+3%+26%+77%+1%12OAKLINS Spot On AI series November 2024Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3115137151136117137145122159162194968562510159202220232024PEVCQuarterly development 20

98、22Q3 2024:VCs lead on deal count,showcasing the early-stage,high growth potential AI has in the spaceM&A developmentsQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3124143159141123139150132160167203202220232024Financing deal count development 2022Q3 2024:Activity remains strong as the search for value creation continuesQ1Q2Q

99、3Q4Q1Q2Q3Q4Q1Q2Q32.441.651.480.980.350.830.521.040.540.380.58Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q30.580.380.541.040.520.830.350.981.481.652.44202220232024VC quarterly activity(U$bn):After the hype in 2022,strong VC-backed financing has kept the momentum going in 2024Sources:Capital IQ,Pitchbook,Oaklins analysis13O

100、AKLINS Spot On AI series November 2024Selected M&A transactionsA selection of recent AdTech AI M&A transactionsA selection of recent MarTech AI M&A transactionsDateTarget BuyerCountry Target descriptionRationale1-Aug-24CynnyMorphCastCynny offers an interactive video platform that enriches experience

101、s for various users while prioritizing privacyTechnology innovation and global expansion26-Jun-24ClickableBeehiivClickable develops an ad-generation platform for all marketing channelsEntering new markets and a strong focus on AI development4-Apr-24AdsmeJobCannonAdsme develops a platform that helps

102、businesses understand customer thinkingRevolutionizing traditional hiring algorithms through advancements in AI technology20-Mar-24AdnymicLinehubAdnymic develops an AI-powered platform focused on boosting e-commerce engagementRapid development and scaling of existing products through AI18-Jan-24Thri

103、oNextivaThrio develops an AI-powered contact center platform aimed at enhancing customer engagement and improving interactionsMarket expansion with enhanced customer experienceDateTarget BuyerCountry Target descriptionRationale1-Aug-24Acqueon TechnologiesFive9 Acqueon Technologies develops a convers

104、ational engagement platform that proactively connects with customers,patients and citizens across various channelsEnhanced revenue execution capabilities on a global scale by expanding market presence and operational capacity25-Jul-24InfluentialPublicis GroupeInfluential develops an influencer marke

105、ting platform that delivers targeted campaigns for brands and agenciesAI-powered technology platform that delivers direct financial benefits16-Jul-24The HookSquirrel Media(MAD:SQRL)The Hook provides content generation in various formats and strategic advertising partnerships to meet businesses commu

106、nication needsStrategic partnership to integrate AI into digital consulting and content generation of MarTech15-Jul-24AiChatreAlpha (NAS:AIRE)AiChat develops an AI platform that helps companies manage chatbots on popular messaging appsExpansion into new territories and commitment to AI innovation20-

107、Mar-24Actium HealthSyllableActium Health develops a healthcare CRM platform that transforms providers into member-focused enterprisesAdvancing AI between patients and health systems14OAKLINS Spot On AI series November 2024PE/VC activity in AdTech AI and MarTech AIA selection of recent PE/VC transact

108、ions for AdTech AI and MarTech AI from January to September 2024DateCompanyLead investor(s)Post money valuation12-Sep-24Announced/in progressND1-Aug-24ND2-Jul-24ND4-Mar-24U$264.16m14-Feb-24US$39.82m14-Feb-24ND1-Jan-24ND1-Jan-24ND15OAKLINS Spot On AI series November 2024ConclusionMarTech has seen an

109、explosion of AI innovation,leading to an overwhelming number of startups coming to market with AI solutions;however,many are little more than wrappers for cloud AI APIs from the leaders like OpenAI,Microsoft,Google and Amazon.Inevitably,the MarTech AI market will experience significant consolidation

110、,enabling a handful of companies to scale up.However,the real battle will be between the leading MarTech companies like Adobe,Salesforce,Klaviyo,Canva and Genesys,as they compete to infuse AI across their current product platforms and introduce new ones,most likely through a combination of internal

111、developments and acquisitions to fill in their AI roadmaps.Advertising and marketing are industries that have seen significant change in the past 15 years,perhaps more than any others,as digital transformation gave rise to a proliferation of new media formats,innovation and automation,as well as an

112、explosion of data that went far beyond simply transforming operations to digital.Just as companies in these sectors were adjusting to these changes,AI has shown up to drive a whole new wave of innovation and disruption that is likely to lead to headcount reductions,a drive for efficiencies,and chang

113、es in their creative process and business models,which for agencies may mean abandoning billing service fees in favor of becoming solution providers.Our recommendation for investors is to look at companies developing strong,deep AI capabilities,and those that are adapting quickly to changing market

114、conditions.John Matthews attending Advertising Week New York,October 202416OAKLINS Spot On AI series November 2024Salesforces plan to introduce usage-based pricing for its recently announced AgentForce products has ignited a new debate:will AI software result in a shift from SaaS-based per seat pric

115、ing to usage-based pricing as the dominant software pricing model,as a consequence of AI automation replacing human workers and causing a reduction in per seat software usage?We are already seeing new developments in generative AI,such as the ability to reason introduced with OpenAIs o1 model that i

116、s now part of ChatGPT,and the emergence of agentic(or agent-based)AI,which tie together and automate AI workflows,chain of thoughts,etc.This could well define what future AI applications will look like and may displace much current enterprise software.In fact,the enterprise software market may see a

117、t least two disruptive changes.The first is the appearance of agentic AI software in the shape of enterprise applications(e.g.in MarTech),and the second is the possibility that businesses will be able to generate enterprise applications themselves using specialized generation software that takes ove

118、r from pre-prepared enterprise software.When it comes to regulation,its important to note that AI is not immune from either existing regulations such as GDPR and CCPA or new ones coming into force.Compliance will become increasingly significant for companies unwilling to take on AI-related risks.For

119、 example,acquirors will be particularly diligent when it comes to ensuring that AI companies or businesses that use AI are compliant both with AI-specific regulations and other applicable laws.The emergence of AI-first companies is driving a new concept that is starting to be discussed by investors,

120、i.e.the shift from Software-as-a-Service(SaaS)to a new model:Service-as-Software.This transformation redefines the core of SaaS,with service providers becoming responsible for outcomes enabled by AI.Traditionally,software companies provided platforms or tools that their customers used to achieve the

121、ir goals and deliver outcomes.In a service-based model,these companies go beyond supplying the software to taking ownership of delivering the results.For example,rather than providing marketing automation software,the company offers marketing services performed by AI that can directly replace the us

122、e of a marketing agency.This shift to Service-as-Software is forecast to have massive repercussions.VC firm Sequoia Capital has just released a must-read report,which discusses this shift that turns labor into software,as a potential US$10 trillion opportunity.This clearly has significant implicatio

123、ns for todays leading marketing agencies and holding companies,which could face competition from disruptor Service-as-Software startups chipping away at key markets or,even more significantly,from challenger agencies able to quickly shift to this business model to compete for and win major accounts.

124、1To quote Ameras Law“we tend to overestimate the effect of a technology in the short run and underestimate in the long run”.This is how the impact of AI is likely to unfold a compounding effect as new innovations keep coming and AI merges with other new technologies and new media to create our media

125、 and marketing future.We will expand on some of these themes in future AI Spot On newsletters.1 Sequoia Capital https:/ Spot On AI series November 2024About OaklinsDeep local roots,global commitmentOaklins brings you opportunities from across the world and we meet you with our expertise wherever you

126、 areOAKLINS OFFERS A COMPREHENSIVE RANGE OF SERVICES M&A advisory(buy-and sell-side)Growth equity and equity capital markets advisory Debt advisory Corporate finance services AI is one of our focus areas.Combining comprehensive sector knowledge with global execution has led Oaklins to become one of

127、the most experienced M&A advisors in the AI sector,with a large network of relevant market players worldwide.This results in the best possible merger,acquisition and divestment opportunities for AI companies.If mergers,acquisitions,or divestitures of businesses or business units are part of your str

128、ategy,we would welcome the opportunity to exchange ideas with you.JOHN MATTHEWSSenior AdvisorNew YorkT:+1 212 651 2616John is a senior advisor at Oaklins DeSilva+Phillips in New York.Coming to investment banking after a career in the technology and management consulting sectors,John has more than 10

129、 years of investment banking experience advising sell-side and buy-side middle-market clients on M&A transactions.Notable AI-related transactions include the sale of Admeta to WideOrbit,and the sale of Helixa to Telmar.United by a strong belief that we can achieve the extraordinary.Oaklins is a glob

130、al team of 800+financial advisory professionals in 40 countries providing M&A,growth equity,ECM,debt advisory and corporate finance services to support entrepreneurs,corporates and investors in reaching their goals.Oaklins disclaimerThis report is provided for information purposes only.Oaklins and i

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