96% of marketers are using AI, only 52% report tangible biz value

As per a new report by Infosys, AI is taking the marketing world by storm. The report, titled CMO Radar Report 2024, reveals that nearly all (96%) of marketers are deploying AI in their activities, yet only 52% of them are seeing business value in their investment. 

The research, which cast its net wide by surveying 2,600 marketing executives across 14 industries, presents a compelling case in favour of AI and those who are already taking the lead in its adoption. 

In an interview with afaqs!, Balaji Sampath, senior vice president and segment head of marketing at Infosys, pulled back the curtain on the new marketing landscape that is radically being reshaped by artificial intelligence.

Balaji Sampath

The report identifies seven key marketing activities where AI is being adopted, including managing advertising spending, post-campaign insights and analysis, campaign planning and deployment, website or e-commerce personalisation, sales enablement tools and repositories, conversational agents and content creation.

The most striking revelation is the near-universal adoption of AI technologies. A staggering 96% of marketing leaders have deployed AI in at least one of these marketing functions, with 73% utilising the technology across multiple areas. Yet, this widespread implementation tells a more nuanced story of technological integration.

"Only 13% of organisations are what we call 'leaders' in AI adoption," Sampath notes. "The bulk of them—about 60%—are in the 'learners' quadrant."  The report categorises organisations into three tiers based on AI fluency: Leaders, Learners, and Laggards. 

 "Banking, automotive, telecommunications, retail, travel, hospitality, and insurance are leading the charge," Sampath points out.

The expanding role of CMOs

With how the industry is shaping up, there is also a tangible impact on the role of CMOs. "About 62% of respondents clearly called out that marketing as a function is directly influencing their business strategy and growth," Sampath reveals. This represents a fundamental reimagining of the marketing role—from creative custodian to strategic enabler.

Nearly two-thirds of respondents reported growing influence in technology decisions, business model innovation, and customer experience design. "Marketers today must be full-stack professionals," Sampath emphasises. "They need to understand how technology can amplify their capabilities, build better customer connections, and drive efficiency." 

Challenges in implementation

Despite the optimistic outlook, significant challenges persist. Only 52% of organisations are currently seeing tangible business value from their AI investments. "This is part of the natural process of technology adoption," Sampath notes. "There's an initial phase of excitement, followed by a more measured approach to integration."

Organisational culture, lack of leadership support, and an unclear vision or strategy rank among the less significant obstacles preventing the full integration of AI into marketing efforts. Interestingly, an increasing number of organisations, including Eli Lilly, WPP, Coca-Cola, and M&C Saatchi, have introduced roles such as Chief AI Officers or Directors of Generative AI to address these challenges.

The key barriers include:

• Developing a comprehensive 360-degree customer view

• Ensuring data privacy and security

• Creating robust data foundations

• Integrating front-end marketing applications with back-end enterprise systems

As per Sampath, there are three primary areas that will see continued AI investment. These include content creation, campaign management, and performance marketing. To that effect, Infosys also has its own Al-amplified marketing suite called Infosys Aster, to help brands enhance their marketing efforts. 

Ethical considerations and responsible AI

"Having responsible AI guardrails becomes incredibly important," Sampath stresses. He also highlights the critical need for collaboration between CMOs, CIOs, legal teams, and financial leadership.

"AI regulations are not just changing by country, but within countries," he explains. "The CMO and CIO partnership has never been more crucial than in today's AI-driven world."

As organisations continue to develop on this front, the message is clear: technological adaptation is no longer optional. The most successful marketing leaders will be those who can blend technological innovation with deep human insight, creating more personalised, efficient, and meaningful customer experiences.

"At the end of the day," Sampath notes, "marketers who have embraced AI in more than five marketing activities are seeing much higher returns compared to those who have adopted AI in a fewer set of marketing activities.”