CMOs are navigating a tough environment right now, balancing demands to achieve short-term improvements in marketing efficiency and effectiveness with long-term investments in digital transformation, tech upgrades not to mention wholescale adoption of AI.
A new survey by BCG’s of over 200 CMOs, reveals key insights into where we find ourselves as an industry with adoption of AI and GenAI cited as one of the main priorities for CMO's in the coming year.
And while the vast majority were optimistic and confident of its transformational impact with around 80% saying GenAI was already improving automation and productivity, strategic areas like personalisation, customer insights, and predictive analytics are taking far longer to develop and deploy at scale.
The report also highlights that while CMOs have found themselves as the driving force for investment and adoption of GenAI in many businesses, to fully capitalise they’ll need to spearhead wholescale organisational changes, new ways of working, and upskilling talent to unlock GenAI's full strategic potential.
You can read the full report here.
This report was authored by Mark Abraham, David Edelman, and Lauren Wiener for BCG. BCG are partners of The Marketing Society
Published 17 June 2024.
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