<p>The application of generative AI (GenAI) in the realm of advertising has seen a remarkable uptick, driven by its capacity to amplify the creative process. In the field of advertising, myriad GenAI tools are being deployed to develop ad copy and create visually engaging graphics. In this research, we explore the capabilities of GenAI tools, particularly OpenAI's ChatGPT 4, released in March 2023, to generate print ads. Synthesizing insights from the advertising literature, ChatGPT responses, and human professionals, we developed prompts for ChatGPT 4, which then generated print ads for three different ad contexts. Ads developed by GenAI and humans were evaluated by advertising professionals for creativity, and by consumers for advertising effectiveness. The results show that the performance of ads developed by GenAI and humans is comparable, especially when ad designs are relatively simple and straightforward; however, when ad designs are more complex than mere product and brand displays (e.g. by incorporating humor), results are mixed: GenAI generated ads are generally evaluated by ad professionals as inferior in terms of creativity, but as having mostly comparable, and sometimes even superior, advertising effectiveness performance relative to ads developed by humans in the consumers’ eyes. Overall, GenAI tools can significantly aid the ad development process, especially in the initial stages, by fostering divergent thinking and identifying and clarifying client objectives and requests by rapidly and cost-effectively generating numerous ad concepts. Such tools may add substantial value for advertising agencies and could potentially replace entry level creative workers. However, GenAI tools must be used with caution to avoid potential pitfalls such as fabrication and copyright and intellectual property infringement.</p>