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Gartner finds 63 percent of marketing leaders plan to invest in generative AI

According to a recent Gartner survey, 63 percent of marketing leaders are planning to invest in generative AI in the next 24 months, and more than half (56 percent) see greater reward than risk in generative AI.

The survey of 405 marketing leaders revealed the utilisation of their organisation’s overall MarTech stack’s capability dropped to 33 percent on average in 2023. This suggests that there is tension between investing more in the current tech stack, or reallocating finite resources towards generative AI applications.

Kevin Ruane, chief marketing officer at Precisely, comments on how marketers need data that is accurate, consistent, and contextualised to fully embrace the benefits of generative AI:

“In today’s digital world, the pressure is on to stay competitive. For marketing professionals, that means timely, targeted customer outreach that anticipates market needs. Generative AI enables marketing teams to quickly produce novel and contextually relevant content, as well as to streamline tasks such as market research and lead scoring. However, the true power of generative AI can only be fully realised with data that is accurate, consistent, and fully contextualised. Data integrity is something that marketers are increasingly realising is necessary to produce content that is on-target and unbiased. Gartner’s recent survey reveals that the lack of robust customer data foundations is one of the top four obstacles preventing business value being unlocked from marketing technology.

“But achieving data integrity is a complex task, and many marketers need help with data challenges that stand in the way. Data often resides in isolated silos, is incomplete or riddled with duplicates, lacks standardisation, and is challenging to enrich at scale with third-party data and spatial insights – diminishing its integrity and reliability. Without trustworthy data as an input to generative AI tools, marketing teams risk results that do not deliver business value. But a strategic approach to data integrity can help marketing organisations rapidly produce content that delights customers and ultimately delivers a strong return on their AI investment.”

https://www.precisely.com/