A recent report by Infosys Knowledge Institute, the research arm of Infosys, reveals that 73% of enterprises have integrated artificial intelligence (AI), including generative AI, into their marketing strategies, with 52% of these deployments achieving measurable business value.
The report, titled CMO Radar 2024, highlights the growing influence of AI-fluent chief marketing officers (CMOs) in corporate decision-making, with 62% of them expecting their influence to expand across broader strategic decisions.
The research categorises CMOs into three groups, based on their AI fluency: Leaders (13%), Learners (60%), and Laggards (27%). It shows that AI-fluent CMOs are more adept at using predictive AI to anticipate customer needs, optimise campaigns, and enhance overall marketing performance. These leaders are better equipped to harness generative AI to integrate data, industry insights, and creative execution, which helps them build stronger capabilities within their teams.
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Sumit Virmani, EVP and global chief marketing officer at Infosys, said, “CMOs face the dual challenge of fueling growth in the short-term while articulating the value of their brand investments in the medium term. They recognize AI’s, especially generative AI’s, potential to help them rewire marketing for greater effectiveness. They know it can also be a key amplifier of marketing impact to the business and its influence within the C-Suite.”
The CMO Radar 2024 survey gathered responses from 2,600 marketing leaders across various industries in Australia, Germany, Nordic countries, the UK, and the US. It examines the adoption of AI throughout the marketing lifecycle, including activities like content creation, conversational agents, sales enablement, personalisation, campaign management, and analytics. The findings reveal that 96% of marketing leaders have deployed AI in at least one of these areas, with 30% implementing AI across all seven key marketing activities.
The report also indicates that 52% of AI marketing deployments are generating business value. Furthermore, it forecasts that AI will deliver significant returns in the next 18 months, including a 15 percentage point boost in productivity, 13 percentage points in cost savings, and 11 percentage points in speed to market.
Four key tactics employed by AI-fluent CMOs to drive value from AI deployments were identified in the report. These include embedding AI solutions into business and marketing processes, aligning AI strategies with business objectives, integrating risk management into AI-powered marketing, and optimising the MarTech stack for scalable AI use cases. According to the report, advanced cloud-native MarTech infrastructures, including real-time customer data platforms (CDPs), enhance scalability and data integration, providing personalised customer experiences and helping companies achieve a competitive edge.
