WPP CEO Mark Read Vows to Make 2025 the 'Year of Execution' with AI

London, UK - Mark Read, CEO of advertising giant WPP, has declared 2025 as the "year of execution" for the company. He believes that WPP has mastered the art of balancing creativity and technology, the two most sought-after qualities by clients in the age of AI.

Read joined WPP in 1989 and played a key role in its acquisition of Ogilvy Group. He took over as CEO in 2018 following the departure of Sir Martin Sorrell. Despite initial skepticism from Sorrell, Read has proven his worth, leading WPP to become more competitive, less indebted, and more coherent.

AI to Transform WPP's Service Offerings

Read's vision for WPP revolves around creating new and engaging narratives for brands. He believes that AI technology will be pivotal in transforming how WPP delivers work.

Through WPP Open, the company's AI integration platform, Read demonstrates how AI can generate creative ads, social media content, and podcasts in minutes, tasks that would have taken days in the pre-AI era. He believes this efficiency will enhance creativity and reduce production time.

Significant Investment in AI

WPP has invested heavily in AI, with annual investments reaching $300 million. The company has appointed a Chief AI Officer, but Read emphasizes his own involvement in leveraging the technology. He believes it is essential for leadership to embrace and demonstrate its usage.

Read predicts that AI will improve client outcomes, increase efficiency, and reduce costs in certain business areas. He rejects the notion that AI will replace human media planners, instead viewing it as a tool that augments creativity.

Dotcom Boom Parallels

Read compares the current excitement surrounding AI to the dotcom boom of 25 years ago. He believes that companies that adopt a long-term view and invest persistently in AI will reap the benefits.

Potential FTSE Exit

Despite WPP's long-standing presence in the FTSE 100, Read recently acknowledged the possibility of moving its primary listing to the US. He cites the scale and power of the US economy and capital markets as key factors driving this consideration.

Return to Office Policy

Read has also implemented a return-to-office policy, expecting staff to be present four days a week in London. He believes that office collaboration is essential for building a successful company and fostering creativity.