Businesses embrace generative AI for innovative marketing strategies

2 mins

Kelly Grace

Published by: Kelly Grace

30 March 2024, 09:25PM GMT+00:00

In Brief

60% of businesses explore generative AI in marketing, allocating 62% of their tech budgets.

AI seen as a boost for creativity and innovation in marketing.

Generative AI impacts roles across marketing, from analytics to content creation.

Ethical use and bias prevention in AI are key concerns for marketers.

Businesses embrace generative AI for innovative marketing strategies

Businesses Embrace Generative AI for Innovative Marketing Strategies

A recent study by Capgemini, a tech company, shows that many businesses are getting into generative AI for marketing. About 60% are checking it out. They discovered that companies are putting a lot of their marketing tech money—62%—into this new AI, believing it'll make marketing more creative and innovative.

Also, three out of four companies are either already spending money on this AI for marketing or plan to start within half a year. Almost half have even set up teams for it.

Marketers are optimistic about AI boosting creativity, adding to skills like intuition and understanding emotions. They think AI will open up new ways to be creative, especially in teamwork, pushing people to think outside the box. They see AI playing a big role soon in analyzing data, improving search engine rankings, customer service, making content, and creating images and videos.

Marketing departments are getting ready to use AI more and more. They believe AI can help create a unique brand image, give better insights into customer trends, cut down costs, and make content creation and marketing more efficient.

Gagandeep Gadri from Capgemini thinks the future of marketing will heavily rely on AI to personalize content and communication, similar to how digital technology took off 20 years ago. He believes success will come to those who stay true to their values while being bold with AI.

As AI keeps getting better, Capgemini points out that marketers will have to think about ethical issues, like how to responsibly use customer data and make AI decisions clear, while avoiding biases.

The study suggests that AI will significantly change many marketing jobs, and there's a big demand for AI skills in marketing that's not being met. To fill this skills gap, companies, especially in the media, insurance, automotive, and life sciences sectors, are planning to train their marketing teams in AI. This shows a big change in marketing's role, with marketing leaders now playing a key part in making big business decisions, especially in companies that sell directly to consumers.

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