A recent report from Infosys Knowledge Institute, the research arm of Infosys, reveals that 73% of companies have integrated artificial intelligence (AI), including generative AI, into their marketing strategies, and 52% of these deployments generated measurable business value.
The report, titled CMO Radar 2024, highlights the growing influence of the AI-savvy leader. marketing CMOs in company decision-making, with 62% expecting their influence to extend to broader strategic decisions.
The study categorizes CMOs into three groups, based on their AI proficiency: Leaders (13%), Learners (60%), and Laggards (27%). It shows that AI-savvy CMOs are better able to use predictive AI to anticipate customer needs, optimize campaigns, and improve overall marketing performance. These leaders are better equipped to leverage generative AI to integrate data, industry insights and creative execution, which helps them build the capabilities of their teams.
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Sumit Virmani, Executive Vice President and Head of Global Marketing at Infosyssaid: “CMOs face the dual challenge of fueling short-term growth while articulating the value of their brand investments in the medium term. They recognize the potential of AI, particularly generative AI, to help them rethink marketing for greater effectiveness. They know it can also be a key amplifier of marketing impact on the company and its influence within the C-Suite.
The CMO Radar 2024 survey collected responses from 2,600 marketing executives across various industries in Australia, Germany, the Nordics, the UK and the US. It examines AI adoption across the marketing lifecycle, including activities such as content creation, chatbots, sales enablement, personalization, campaign management and marketing. ‘analysis. The results reveal that 96% of marketers have deployed AI in at least one of these areas, and 30% of them are implementing AI in all seven key marketing activities.
The report also states that 52% of AI marketing deployments generate business value. Additionally, he predicts that AI will generate significant benefits over the next 18 months, including a 15 percentage point increase in productivity, 13 percentage points in cost savings, and 11 percentage points in speed to implementation. implemented. walk.
Four key tactics used by AI-savvy CMOs to drive value from AI deployments were identified in the report. These include integrating AI solutions into business and marketing processes, aligning AI strategies with business objectives, integrating risk management into AI-based marketing. AI and MarTech stack optimization for scalable AI use cases. According to the report, advanced cloud-native MarTech infrastructures, including real-time customer data platforms (CDPs), improve data scalability and integration, delivering personalized customer experiences and helping businesses achieve an advantage. competitive.
