Generative AI (gen AI) is causing a technological disruption across the marketplace ecosystem, particularly impacting marketing. This technology produces various forms of content from product copy, blog posts, video and web ads, to personalized customer offers and market research. This has led marketers to view gen AI as a significant advancement in their field. According to the ninth edition of Salesforce’s “State of Marketing” report, which surveyed 5,000 global marketers, “implementing or leveraging AI” was identified as the top priority.
Gen AI tools have already proven beneficial for some organizations, leading to improved marketing outcomes. For instance, Vanguard utilized gen AI to boost LinkedIn ad conversion rates by 15%. Unilever also employed gen AI to aid customer service agents, resulting in a 90% reduction in their response time. Despite the opportunities presented by gen AI, stakeholders are still left grappling with its implications and challenges. This indicates the need for further exploration and understanding of this rapidly evolving tool in order to maximize its potential benefits.