A recent report by the Capgemini Research Institute sheds light on the prevalent adoption of generative AI in marketing strategies.
Approximately 60 percent of organisations worldwide are either implementing or exploring the integration of generative AI into their marketing efforts. Moreover, three-quarters of these organisations have plans to allocate budgets for this integration within the next six months.
The study surveyed 1,800 executives overseeing marketing strategies across diverse organisations worldwide, with an annual revenue exceeding USD 1 billion. Respondents spanned various sectors and were based in 14 countries across North America, Europe, and APAC. Additionally, in-depth interviews were conducted with CMOs and marketing leaders.
Applications and Perceived Benefits
The report highlights that 62 percent of marketers anticipate generative AI to enhance human creativity by complementing unique human qualities like intuition, emotion, and context understanding. Organisations investing in generative AI are directing 62 percent of their marketing technology budget towards this technology, recognising it as a catalyst for creativity and innovation in marketing.
Marketers foresee generative AI unlocking new creative possibilities (57%) and motivating teams to transcend conventional boundaries (55%). Over the next few years, its application is expected across various domains such as data analysis (90%), search engine optimization (89%), customer services (89%), content creation (88%), and image and video generation (86%).
The perceived benefits include building a unique brand image (67%), accurate analysis of customer and market trends (65%), reduced marketing costs (66%), and increased efficiency in content generation (65%).
Addressing Ethical and Regulatory Concerns
As AI algorithms advance, ethical considerations regarding customer data use, transparency in AI-driven decision-making, and avoidance of reinforcing social inequalities become increasingly pertinent. However, the study reveals that only 30 percent of organisations have implemented clear guidelines for AI system use. Less than half consider trust, privacy, and responsibility attributes while selecting AI systems for marketing activities.
The research underscores that 71 percent of organisations anticipate significant or moderate impacts of generative AI on specific marketing roles. To bridge the resulting skills gap, companies plan to provide generative AI training for their marketing teams within the next six months.
Generative AI: A Strategic Role of Marketing
CMOs are increasingly recognised as pivotal decision-makers, with 71 percent of C-suite respondents in business-to-consumer (B2C) sectors acknowledging marketing as a strategic partner in driving business growth. Additionally, CMOs are taking direct responsibility for revenue growth (49%) and profit-related decisions (44%), reflecting an increased role in organisational success.
To succeed, organisations are adopting diverse AI strategies tailored to their marketing needs and available resources. A significant percentage rely on external applications and platforms for generative AI in marketing, while others are developing in-house applications alongside external tools.
The B2B Marketer, the online destination for B2B marketing professionals seeking valuable insights, trends, and resources to drive their marketing strategies and achieve business success.
