The ad spending winter of 2022 and early 2023 was mild and short-lived, as we predicted. And after a solid H2 2023, things are looking up across the board for 2024.
Consumers鈥� adoption of AI banking chatbots also varies by country. AI compliance challenges: Banks are increasingly adopting AI for high-stakes operations like loan approvals, which is exposing them to more third-party risk. Banks must ensure their AI is explainable and compliant to stay ahead of regulation and avoid potential discrimination issues.
Although its share of paid media outlays continues to decrease, we estimate traditional ad spending in Latin America will reach $15.85 billion by year-end, $4.6 million more than what advertisers spent in 2019. Recovery times will vary by country. We expect traditional media to bounce back to 2019 spending levels next year in Argentina and Brazil.