Infosys Knowledge Institute has released a global research report titled 'CMO Radar 2024'. The report reveals that 73% of enterprises have launched AI, including generative AI, across marketing with 52% of deployments achieving business value.

According to the report, 62% of Chief Marketing Officers (CMOs) see their influence growing over broader corporate decisions as their AI implementations look to improve brand experience, as well as efficiency and effectiveness in marketing. The report categorises CMOs as Leaders (13%), Learners (60%) or Laggards (27%) in AI fluency, based on their ability to deliver business value from AI across multiple marketing activities.

AI-fluent CMOs make data-driven decisions using predictive AI to anticipate customer needs, personalise and optimise campaigns, and boost marketing performance. The CMO Radar 2024 survey polled 2,600 marketing leaders across industries from Australia, Germany, the Nordics, UK, and the US.

A staggering 96% of marketing leaders have deployed AI in at least one marketing activity. Furthermore, 30% of marketing leaders have deployed AI in all seven key marketing activities. Marketing leaders expect AI to deliver measurable value in the next 18 months, including double-digit percentage point boosts in productivity (15 percentage points), cost savings (13 percentage points), and speed to market (11 percentage points).

The report outlines four tactics that Leaders in AI fluency employ to generate business value from their AI deployments.

Satish H C, EVP and Chief Delivery Officer, Infosys, commented on the report, "Very early on, at Infosys, we saw how AI promises to disrupt the way B2B and B2C players think about customer experience, marketing productivity, and growth. The findings of the Infosys CMO Radar 2024 report point to how forward-thinking marketing leaders are adjusting to this new landscape. Central to this transformation is the reimagining of marketing end to end, embracing a holistic approach to innovation. By focusing on disintermediation for agility, businesses can swiftly adapt to changes and enhance their competitive edge. The report underscores the vital role of leadership in harnessing AI capabilities to drive marketing innovation and customer engagement. With Infosys Aster, we are already bringing the digital capabilities for marketing leaders to maximise operations, while taking advantage of advances in marketing effectiveness and personalisation in an AI-first future."

Sumit Virmani, EVP and Global Chief Marketing Officer, Infosys, added, "CMOs face the dual challenge of fueling growth in the short-term while articulating the value of their brand investments in the medium term. They recognise AI's, especially generative AI's, potential to help them rewire marketing for greater effectiveness. They know it can also be a key amplifier of marketing impact to the business and its influence within the C-Suite. The Infosys CMO Radar 2024 unpacks the tactics that CMOs can embrace to get and stay ahead in these times of AI-powered transformation."