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Marketers are increasingly using generative AI (GenAI), but most CMOs still lack the in-depth knowledge to fully exploit the technology, according to a global study by SAS and
Marketers are increasingly using generative AI (GenAI), but most CMOs still lack the in-depth knowledge to fully exploit the technology, according to a global study by SAS and Coleman Parkes Research.
The study, commissioned by analytics specialist SAS, shows that 90 percent of companies plan to invest in GenAI for their marketing by 2025. At the same time, 90 percent of CMOs say they do not fully understand the technology and its impact on business processes. This lack of knowledge prevents the introduction of more advanced applications that could significantly improve the efficiency and effectiveness of marketing.
Currently, the marketing department is ahead of other business functions, such as IT, in the use of GenAI. About 75 percent of marketers use the technology, mainly for tasks such as writing and creating content. However, GenAI is used much less frequently for more complex marketing goals such as audience building (18%), customer journey analysis (16%) and pricing optimization (14%). Nevertheless, companies that adopt GenAI are seeing clear benefits, particularly in the areas of personalization (92%), customer satisfaction (89%) and predictive analytics (88%).
Although GenAI is still relatively rarely used for advanced marketing applications, many marketers expect its use to expand in the coming years. They hope it will lead to cost savings, better risk management and more efficient handling of large amounts of data. In addition, some also expect the emergence of new applications, such as virtual reality.
Despite the potential of GenAI, the lack of strategic alignment among CMOs remains a challenge. In addition, many marketers are concerned about data security and privacy. Only a third of organizations have a good governance framework for data management, and for GenAI, this number is even lower.
According to SAS, it is important for marketers to improve their knowledge of both the technology and data management to realize the full potential of GenAI and achieve business goals.
Source: IT Daily
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