2 min. reading

CMOs Embrace Generative AI Despite Limited Understanding

Generative AI is gaining increasing popularity in marketing, with 90% of organisations planning to invest in it. However, it's concerning that the vast majority of marketing directors admit they don't fully understand this technology or its potential impact on business processes. This lack of knowledge may hinder the adoption of more advanced AI applications that offer significant benefits, not only for e-commerce.

This article was translated for you by artificial intelligence
CMOs Embrace Generative AI Despite Limited Understanding
Source: Depositphotos

A recent international study by SAS and Coleman Parkes Research shows that while 75% of marketers already use GenAI for daily tasks, most focus on simpler applications such as content creation, copywriting, and editing. Despite these basic uses being widespread, AI offers much more advanced capabilities that only a small proportion of marketers are currently utilising.

The survey revealed that 18% use generative AI for audience building, 19% for audience targeting, 16% for customer journey mapping, and 14% for price optimisation.

Benefits for E-commerce

It appears that marketers who use Generative AI strategically are seeing impressive results. The adoption of GenAI is associated with improvements in personalisation (92%), customer satisfaction and retention (89%), ability to process large amounts of data (88%), and accuracy of predictive analytics (88%).

Within e-commerce, generative AI tools could transform customer communication, streamline operations, and drive business growth.

Generative AI Adoption Surges Among CMOs Despite Knowledge Gaps

Source: Sas

Marketers expect to expand their use of Generative AI over the next one to two years to:

  • save time and costs (63%)
  • improve risk management and compliance (62%)
  • enable more efficient data processing (60%)

However, the main obstacle is insufficient understanding and strategic management by CMOs. Privacy protection and data security also pose problems, with 61% of marketers citing them as key challenges in adopting GenAI. Only a third of organisations have comprehensive data governance frameworks in place, and less than 10% have achieved this for GenAI.

To stay ahead of the competition, consider investing in GenAI now. To fully realise its potential, the e-commerce industry should invest in educating its leaders, including CMOs.

Moreover, building robust data governance and compliance frameworks will be crucial to strengthen customer trust and ensure responsible AI usage.

Share article
Similar articles
New Tools on YouTube to Protect Creators and Brands
3 min. reading

New Tools on YouTube to Protect Creators and Brands

New tools on YouTube are revolutionising content protection. The platform’s defences against deepfakes are intensifying as YouTube introduces innovative features to safeguard creators and brands. These new tools on YouTube will alert users to AI-generated content that attempts to piggyback on their original creations. This development opens up fresh opportunities for brand protection and content […]

Read article
How Automation and AI Will Reshape Customer Service
4 min. reading

How Automation and AI Will Reshape Customer Service

A study by Zendesk shows that the customer experience is about to change in a big way. Executives think that customer experience will be completely changed by automation and AI in the next three years. In fact, 80% of them think that standard CX will no longer exist.

Read article
AI Virtual Influencers Rise: Should Businesses Pay Attention?
3 min. reading

AI Virtual Influencers Rise: Should Businesses Pay Attention?

There has been a big change in the influencer marketing scene within the last few years, as AI virtual influencers rise to prominence. Brands are witnessing this rapid ascent and wondering whether they should collaborate with these digital entities or remain with more conventional human influencers. As the popularity of AI virtual influencers continues to […]

Read article
Bridge Now

Latest news right NOW

10+ unread

10+