Sumit Virmani.
While most CMOs are engaging in AI across all their main marketing activities, almost half (48%) of AI deployments struggle to deliver business value, according to the Infosys CMO Radar 2024.
The CMO Radar 2024 survey was conducted by the Infosys Knowledge Institute polling 2,600 marketing leaders across industries from Australia, Germany, the Nordics, UK, and the US.
Almost all (96%) of those marketing leaders surveyed have deployed AI in at least one marketing activity.
The report also identified that AI-fluent CMOs make data-driven decisions using predictive AI to anticipate customer needs, personalise and optimise campaigns, and boost marketing performance.
They are also able to better use generative AI to bring together value from data, industry expertise, and creative execution to build stronger capabilities, inside-out, within their teams.
The report also found that marketing leaders expect AI to deliver measurable value in the next 18 months, including double-digit percentage point boosts in productivity (15 percentage points), cost savings (13 percentage points), and speed to market (11 percentage points).
Infosys EVP and CMO Sumit Virmani said CMOs face the dual challenge of fueling growth in the short-term while articulating the value of their brand investments in the medium term.
"They recognise AI’s, especially generative AI’s, potential to help them rewire marketing for greater effectiveness," he said.
"They know it can also be a key amplifier of marketing impact to the business and its influence within the C-Suite."
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