AI Reshaping the Marketing Landscape: Insights from the CMO Radar Report 2024
The CMO Radar Report 2024 by Infosys highlights a transformative moment for the marketing world, with AI adoption becoming a near-universal phenomenon. The report surveyed 2,600 marketing executives across 14 industries, revealing that 96% of marketers have integrated AI into at least one of their functions. However, only 52% are currently realizing significant business value, underscoring a critical gap between implementation and outcomes.

Key Insights:
Widespread AI Adoption:
Nearly all marketers are leveraging AI, with 73% using it across multiple functions. The seven key activities benefiting from AI include:

Advertising spend management
Post-campaign insights
Campaign planning and deployment
Website/e-commerce personalization
Sales enablement tools
Conversational agents
Content creation
Organizational Maturity Levels:
Organisations fall into three categories based on their AI fluency:

Leaders (13%): Maximizing AI’s potential.
Learners (60%): Experimenting but not fully capitalizing.
Laggards: Yet to embrace the technology fully.
Sector Leaders:
Industries leading the AI revolution include banking, automotive, telecommunications, retail, travel, hospitality, and insurance.

The Expanding Role of CMOs:
Marketing is no longer just about creativity. 62% of respondents noted that marketing now directly influences business strategy and growth. CMOs are evolving into strategic enablers, with growing responsibilities in:

Technology decisions
Business model innovation
Customer experience design
Challenges in AI Integration:
Key barriers hindering effective AI implementation include:

Developing a comprehensive customer view
Data privacy and security
Robust data foundations
Integration of front-end and back-end systems
Targeted AI Investments:
Organisations are prioritizing AI in:

Content creation
Campaign management
Performance marketing
Infosys’ Aster Suite is an example of an AI-powered platform aimed at amplifying marketing efforts through advanced insights and automation.

Ethical and Collaborative Approaches:
As AI adoption accelerates, ethical considerations are paramount. CMOs, CIOs, legal teams, and financial leaders must work collaboratively to establish responsible AI frameworks, especially as regulations vary globally.

The Road Ahead:
The report underscores that organisations utilizing AI in more than five activities see significantly higher returns. The ability to combine technological advancements with human creativity and strategic insight will distinguish market leaders from the rest.

Author: Sania Khan