Boston Consulting Group Reports 91% of Global CMOs See Enhanced Efficiency from Generative AI for Marketing

A recent survey conducted by Boston Consulting Group (BCG) reveals that the use of Generative AI for marketing is proving beneficial for numerous Chief Marketing Officers (CMOs) around the globe. Almost 91% reported enhanced efficiency due to the adoption of this technology. "CMOs are harnessing GenAI to redefine the standards for speed, efficiency, customization, and quality across diverse marketing tasks. Moreover, they see GenAI as a valuable asset for future-proofing their businesses," stated Jessica Apotheker, the global CMO of BCG. This sentiment resonated with 93% of CMOs who participated in the survey. They reported a positive or very positive enhancement in their work organization. The survey featured over 200 CMOs from a broad range of sectors across Asia, Europe, and North America. BCG's report, "How CMOs Are Succeeding with Generative AI," presents the optimistic perspective of CMOs towards Generative AI. Over 70% of surveyed CMOs have incorporated Generative AI in their organizations to tackle various marketing challenges. Nicolas De Bellefonds, the global leader of AI and Software at BCG X, stressed that agility, innovation, and responsibility will distinguish the successful CMOs who adopt Generative AI, providing them with a significant competitive edge. BCG also highlighted a four-step recommendation for CMOs aiming to leverage Generative AI to gain a competitive advantage: Start experimenting, seek game-changing outcomes, establish an enterprise-wide model, and implement responsible AI guidelines. As Generative AI continues to evolve, it's clear that CMOs who take proactive steps to embrace this technology will be best positioned for future success. The report comes out following BCG's recent announcement of their partnership with Intel in securing enterprise usage of Generative AI tools.