Shocking surge: 73% of companies now use AI in marketing, Infosys unveils

In an interesting revelation, the Infosys Knowledge Institute’s “CMO Radar 2024” report indicates that a staggering 73% of enterprises have integrated artificial intelligence (AI), including generative AI, into their marketing strategies. This widespread adoption underscores AI’s pivotal role in transforming marketing operations across various industries. The report highlights that 52% of these AI deployments are delivering tangible business value, signaling a significant shift towards data-driven decision-making in marketing. Notably, Chief Marketing Officers (CMOs) proficient in AI are expanding their influence within corporate hierarchies, with 62% reporting increased involvement in broader strategic decisions.

The scope of AI adoption in marketing

The “CMO Radar 2024” study, encompassing insights from 2,600 marketing leaders across regions including Australia, Germany, the Nordics, the United Kingdom, and the United States, reveals that 96% have implemented AI in at least one marketing function. However, only 30% have fully integrated AI across all seven key marketing activities, such as content creation, conversational agents, sales enablement, personalization, campaign management, and analytics.

Despite this enthusiasm for AI, the report identifies a critical challenge: 48% of AI initiatives in marketing are not yielding the expected business value. This shortfall suggests a need for more strategic implementation and alignment with business objectives to unlock AI’s full potential.

CMO classifications and their AI fluency

The Infosys report classifies CMOs into three categories based on their AI fluency. Leaders, representing 13%, demonstrate high proficiency in leveraging AI to drive business value across multiple marketing activities. Learners, constituting 60%, are actively developing their AI capabilities to enhance marketing performance. Laggards, the remaining 27%, exhibit limited AI adoption and struggle to realize its potential benefits. This segmentation underscores the varying degrees of AI integration and effectiveness among marketing leaders.

Expected benefits of AI in marketing

Marketing leaders anticipate that AI will deliver measurable value within the next 18 months. Key benefits include a projected 15% increase in productivity, a 13% reduction in costs, and an 11% acceleration in speed to market. These projections highlight the potential of AI to enhance efficiency and effectiveness in marketing operations.

Strategies for successful AI implementation

To maximize AI’s potential, Infosys identified strategies employed by AI-fluent CMOs. Successful leaders embed AI into business processes, ensuring teams have access to real-time data insights and can adjust tactics promptly. They align AI with broader business and marketing strategies, emphasizing responsive approaches that drive measurable value. Additionally, implementing structured risk management frameworks builds customer trust and reinforces responsible AI use. Finally, optimizing MarTech infrastructure with scalable, cloud-native platforms enables advanced personalization and data integration, unlocking AI’s competitive edge.

Expert insights on AI’s growing role in marketing

Satish H C, Executive Vice President and Chief Delivery Officer at Infosys, observed that forward-thinking marketing leaders are reimagining marketing end-to-end, embracing a holistic approach to innovation. He emphasized that focusing on disintermediation for agility enables businesses to swiftly adapt to changes and enhance their competitive edge.

Sumit Virmani, Executive Vice President and Global Chief Marketing Officer at Infosys, noted that CMOs face the dual challenge of fueling short-term growth while articulating the value of brand investments in the medium term. He highlighted that AI, especially generative AI, has the potential to help CMOs rewire marketing for greater effectiveness and amplify marketing impact within the business and the C-suite.

The path forward for AI-powered marketing

The “CMO Radar 2024” report by the Infosys Knowledge Institute underscores the transformative impact of AI in marketing. As AI adoption continues to rise, CMOs with high AI fluency are poised to lead their organizations toward greater efficiency, effectiveness, and strategic influence.