AI-driven CMOs lead marketing transformation

The Infosys Knowledge Institute’s CMO Radar 2024 report reveals that 73% of businesses are using AI, including generative AI, in marketing, with 52% achieving measurable gains. AI-fluent CMOs, identified as Leaders, are more adept at leveraging predictive tools to enhance campaigns and customer experience. 

A recent study by Infosys Knowledge Institute reveals that artificial intelligence (AI), including generative AI, is now central to the marketing strategies of 73% of enterprises, with 52% of these initiatives delivering measurable business value. Based on a survey of 2,600 marketing leaders, the CMO Radar 2024 report highlights how AI can boost productivity, reduce costs, and accelerate time to market.

The report underscores the expanding influence of AI-savvy chief marketing officers (CMOs), with 62% expecting to play a more significant role in strategic decisions. It categorizes CMOs by their AI proficiency: Leaders (13%), Learners (60%), and Laggards (27%). CMOs who are highly proficient in AI leverage predictive tools to anticipate customer needs, optimize campaigns, and enhance overall marketing performance, while using generative AI to seamlessly integrate data, insights, and creativity into their strategies.

Sumit Virmani, Infosys’s EVP and global CMO, highlights the dual challenge CMOs face—balancing short-term growth with articulating brand value in the medium term. According to the report, 96% of marketing leaders have implemented AI in at least one area of their work, while 30% have deployed it across seven key marketing activities, including content creation, personalization, and analytics. Additionally, the study projects significant returns from AI in the next 18 months, with 15% productivity gains, 13% cost savings, and an 11% improvement in time to market.

The report identifies four key tactics of AI-fluent CMOs: embedding AI within business and marketing processes, aligning AI strategies with business goals, incorporating risk management, and optimizing the MarTech stack for scalability. Advanced cloud-native infrastructures, like customer data platforms (CDPs), enable scalability and data integration, delivering personalized experiences and giving companies a competitive edge.