AI in marketing: the future in figures
More companies are investing in the implementation of AI. A Capgemini study found that about half of the companies surveyed have already set aside budgets to adopt AI in their marketing initiatives – and the number is growing.
AI tools promise to make the marketing process more efficient
Whether for customer communication, data analysis, or content generation: the use of AI in marketing is completely shaking up company workflows and the digital marketing industry as a whole. Especially when it comes to personalizing customer experiences and predicting customer behavior, AI solutions break new ground and can give companies competitive advantages. All marketing professionals now seem to agree on that – but is it being reflected in hard figures?
As part of a 2023 study entitled “Generative AI and the evolving role of marketing: a CMO’s Playbook”, the Capgemini Research Institute surveyed 1,800 managers from 14 countries, all of whom are responsible for the marketing strategies of companies with an annual turnover of more than a billion U.S. dollars. 126 of the professionals who took part were from Germany.
Almost 60% of the organizations surveyed are already integrating generative AI into their marketing efforts. A fifth (21%) are still in the experimental phase. 57% of marketers expect generative AI to unlock new creative possibilities, particularly at the intersection between human and AI-driven innovation. 55% foresee this motivating marketing teams to think beyond conventional boundaries.
The study also reveals clear trends in terms of the use cases of artificial intelligence in marketing. The marketing experts already using generative AI expect to increasingly apply the technology in the following areas in the next two to three years:
- Data analysis (90%)
- Search engine optimization (89%)
- Customer service (89%)
- Content creation (88%)
- Image and video generation (87%)
For many companies, AI in marketing not only offers a wide range of opportunities, but also comes with challenges. Almost two-thirds (63%) of the organizations participating in the survey said that the current demand for generative AI skills in marketing significantly outstrips supply. To address this skills gap and harness the full potential of the technology, 53% are planning to provide generative AI training for their marketing teams in the next six months.
Strong growth forecasts demonstrate the influence of AI in marketing
The huge investments being made in AI in marketing also reflect a study conducted by Statista in 2023, which predicted a significant increase in market volume over the coming years.
The market volume for artificial intelligence in the marketing sector was 15.84 billion U.S. dollars in 2021. Experts predict that this figure will rise to 107.5 billion U.S. dollars by 2028.
The clear shift toward AI-driven marketing processes promises a new, more efficient future for marketers, enabling them to spend less time on routine tasks and more time on being creative.
Companies are increasingly embracing AI in marketing
Whether utilizing AI for content marketing, analyzing data, or personalizing customer experiences, companies are now allocating substantial budgets to AI tools to keep up with the competition – with a focus on tapping into new opportunities for business growth as well as building their employees’ AI skills. Both trends are likely to gain even more momentum going forward.
