GenAI can increase marketing productivity by 40% in 5 years

Author Moonshot.news

Published on: 03/04/2024

Using generative artificial intelligence can increase a company’s marketing productivity by more than 40% by 2029. Companies should prepare staff for fundamental job changes, which may necessitate upskilling, reorganisation, elimination of some job titles, expansion of other job titles, and the creation of entirely new career paths, market research firm International Data Corporation (IDC) says in a forecast.

 “In the next five years, GenAI will advance to the point where it will handle more than 40% of the work of specific marketing roles,” says Gerry Murray, the company’s research director.

“Because of the rapid evolution of GenAI capabilities, marketing leaders will have to prepare their staff for fundamental changes to roles, skills, and organisational structure.”

The company’s conclusion is based on 24 marketing roles across five categories of work – Management and Planning, Branding and Creative Services, Campaign and Engagement, Analytics and Reporting, and Other. The forecast is estimated on how much of each category of work can be delegated to GenAI over the next five years. Combined with staffing levels and fully loaded cost estimates, the productivity impact of adopting GenAI throughout a large marketing team was calculated.

“The results show that GenAI will be able to handle more than 40% of the collective work of marketing teams and potentially 100% of specific marketing tasks”, IDC says.

The forecast recommends tech buyers:

•  Evaluate the breadth and depth of discrete use cases vendors support today, and in the future, as use cases will directly translate into business outcomes and create strong economic justification for investment.
•  Buyers should also focus on how effectively a vendor’s architecture, tooling, and service resources accelerate the journey down that use case road map.
•  Determine the level of infrastructure required to support each type of work.
•  Implement AI capabilities from the data layer up, not from the task automation layer down.  – Every instance of GenAI in a commercial enterprise should share common services for data, governance, security, and so forth.
•  Prepare staff (and organisations) for fundamental job changes, which may necessitate upskilling, reorganisation, elimination of some job titles, expansion of other job titles, and the creation of entirely new career paths.
• Prepare your data. Organisations that do not have real-time, clean, governed data sets will not be able to take full advantage of this new generation of marketing technology.