Generative Artificial Intelligence (AI) is already used by 70 % of marketing managers from different companies in their jobs, while another 19 % are testing it, according to a study carried out by the Boston Consulting Group (BCG), which also highlights that these tools are used mainly for the personalization of offers and content.
Specifically, it details that some banks are using generative AI to analyze customer data and offer personalized investment advice that matches their risk appetite, while other types of businesses use this technology to create hyper-personalized recommendations that attract buyers, either to get better conversion rates or to achieve greater customer loyalty.
Other uses of generative AI tools are content creation, to support the work of creatives or to speed up processes, and market segmentation, making campaigns target customers with greater precision, improving the resource allocation and ROI.
The report, based on interviews with 200 chief marketing officers (CMOs) from various industries in eight countries across North America, Europe and Asia, highlights the rapid proliferation of long language models and how they are impacting the marketing industry. “No technology has reached 100 million users faster than ChatGPT, which crossed that threshold in just two months, much faster than Instagram, which took two and a half years,” the text details.
“The growing adoption of generative AI in marketing highlights its strategic importance rather than just a fleeting trend”, said Amaryllis Liampoti, BCG partner who leads the BCG X Growth team, who explains that “although the use of AI in marketing is not entirely new, today’s capabilities have reached an unprecedented magnitude. We are witnessing a true quantum leap in the ability of AI to drive personalization, precise targeting and content creation at scale.”
Source: dpa
(Reference image source: Possessed Photography, Unsplash)
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