November, 2024
Generative AI is a trained model with neural networks, deep learning algorithms, and machine learning that identifies patterns based on existing data and creates original content. With the help of generative AI, marketers can save time and focus on more strategic work. The marketing automation tasks such as data analysis, customer segmentation, personalized content creation, and social media management are majorly driving the business. 67% of marketers complain that their company’s data is not organized. On this, the CEO of Salesforce comments, “Data is fuel for AI, without high-quality, trusted data, it becomes garbage in and garbage out.” Operating AI on irrelevant and unrepresentative data will provide biased and toxic output.
Generative AI in marketing is a promising way to enhance content delivery. According to Gartner, 30% of outbound marketing messages from large organizations will be synthetically generated by 2050. AI has the potential to augment, accelerate, create new content, and transform the marketing operation. A report from McKinsey mentions that Gen AI could contribute up to $4.4 trillion in annual productivity worldwide. Marketing productivity could increase between 5% and 15% of total marketing spend, worth approximately $463 billion annually.
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