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GenAI will grow marketing productivity by over 40% by 2029: IDC

News Desk by News Desk
April 2, 2024
A A
GenAI marketing

Applying generative artificial intelligence (GenAI) to various enterprise marketing operations is expected to enhance productivity by more than 40% by 2029, according to new International Data Corporation (IDC) research. 

“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,” said Gerry Murray, research director of IDC’s Enterprise Marketing Technology practice. “Because of the rapid evolution of GenAI capabilities, marketing leaders must prepare their staff for fundamental changes to roles, skills, and organizational structure.” 

IDC modeled the work of 24 important marketing positions across five primary categories of labor—Management and Planning, Branding and Creative Services, Campaign and Engagement, Analytics and Reporting, and Other—in order to estimate the possible impact of GenAI capabilities on marketing.

The findings indicate that GenAI can complete over 40% of marketing teams’ overall workload and 100% of some marketing duties. The productivity increases (as a percentage of work) provide excellent direction for marketing teams of all sizes, even if the advantages of using GenAI for marketing duties will vary per company depending on the number of people connected with each function and the compensation ranges at the organization. 

To prepare their organizations to take advantage of GenAI, IDC recommends that tech buyers take the following steps.

  •  Buyers must assess vendors’ support for diverse use cases, both current and future-oriented, as they directly impact business outcomes and justify investments.
  •  Buyers should gauge how effectively vendors’ architectures, tools, and services accelerate the achievement of specific use cases aligned with organizational goals.
  • Determine the level of infrastructure required to support each type of work.
  • Deploy AI capabilities from the data layer upward to ensure seamless integration and shared services across the enterprise.
  •  Organizations must prepare for job role changes through upskilling, reorganization, and the creation of new career paths.
  •  Clean, governed, and real-time datasets are essential for leveraging the full potential of AI in marketing technology.

Also Read: Accenture Completes Acquisition of Mindcurv

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News Desk

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by CXO VOICE team memebrs, [email protected]

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