CMOs Struggle to Grasp the Potential of Generative Artificial Intelligence (GenAI) in Marketing
The rise of generative artificial intelligence (GenAI) in marketing is undeniable, with a new global study by SAS and Coleman Parkes Research shedding light on the current landscape. While the adoption of GenAI is on the rise among marketers, a significant knowledge gap persists among Chief Marketing Officers (CMOs), hindering organisations from fully realising the potential benefits of this technology.
The study, titled “Marketers and GenAI: Diving Into the Shallow End,” reveals that 90 percent of organisations plan to invest in GenAI for marketing purposes by 2025. However, an equal percentage of CMOs admit they do not fully understand the technology or its impact on business processes. This lack of understanding is identified as a major obstacle holding organisations back from leveraging GenAI to its full potential.
Despite this knowledge gap, 75 percent of marketers are already using GenAI in their daily activities, surpassing other business functions in terms of adoption. However, the applications of GenAI are often limited to basic tasks such as copywriting and content creation, with more sophisticated uses like audience targeting and customer journey mapping still underutilised.
Marketers who have embraced GenAI report strong returns on their investments, citing improved personalisation, customer satisfaction, and data processing capabilities as key benefits. The study underscores the urgent need for upskilling among marketing executives to fully leverage the potential of GenAI and drive business growth.
Looking ahead, marketers expect to expand their use of GenAI in the next one to two years, anticipating benefits such as time and cost savings, improved risk management, and more efficient data processing. However, concerns over data security and privacy remain prevalent, highlighting the need for comprehensive governance frameworks to ensure trust between brands and consumers.
Jonathan Moran, Head of MarTech Solutions Marketing at SAS, emphasises the gap between the potential and current capabilities of GenAI in marketing technology. He stresses the importance of education, enablement, and data governance to foster trust and drive successful implementation of GenAI in marketing and customer experience pursuits.
In conclusion, the study paints a promising picture for the future of GenAI in marketing, with marketers poised to expand their use of this technology. By addressing knowledge gaps, upskilling marketing executives, and implementing robust governance frameworks, organisations can unlock the full potential of GenAI and drive business growth in the digital age.
