Infosys CMO Radar 2024: AI-savvy CMOs boost marketing, decision-making, and influence. Key tactics reveal how to maximize AI’s value in marketing.
Infosys Knowledge Institute, a research arm of Infosys, a global leader in next-generation digital services and consulting, today unveiled a global research report titled CMO Radar 2024. The report reveals that most companies have embedded artificial intelligence (AI) in their marketing functions. It highlights how CMO’s AI fluency (ability to use AI to solve problems) drives business value and increases their influence over corporate decision-making and strategy.
The Infosys CMO Radar 2024 found that while most CMOs engage in AI across all their main marketing activities, almost half (48%) of AI deployments struggle to deliver business value. It uses these insights to categorize 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.
The report identifies that AI-fluent CMOs make data-driven decisions using predictive AI to anticipate customer needs, personalize and optimize campaigns, and boost marketing performance. They are also able to better use generative AI to bring together value from data, industry expertise, and creative execution to build stronger capabilities, inside-out, within their teams.
The Infosys Knowledge Institute conducted the CMO Radar 2024 survey, polling 2,600 marketing leaders across industries from Australia, Germany, the Nordics, the UK, and the US. The research explores the adoption of AI across the marketing lifecycle, including for activities such as content creation, conversational agents, sales enablement, personalization, campaign management, and analytics.
The research reveals:
- 96% of marketing leaders have deployed AI in at least one marketing activity.
- 52% of AI marketing deployments generate business value.
- 30% of marketing leaders have deployed AI in all seven key marketing activities.
- 62% of CMOs are set to grow their influence over strategic corporate decisions.
The Infosys CMO Radar 2024 found that 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:
- Embed AI solutions into business and marketing processes: Leading CMOs ensure their teams can access real-time insights from data and immediately adjust tactics as they roll out their AI implementation plan. They establish systematic governance around KPIs and ensure consistent communication with stakeholders.
- Align AI, business, and marketing strategies: Marketers who succeed with AI are likelier to have a responsive AI strategy that aligns with marketing and overall business goals. These companies prioritize building AI capabilities across the marketing value chain based on their business value and feasibility.
- Factor risk management into AI-powered marketing solutions: When it comes to AI in marketing, 43% of companies still depend on ad hoc methods of risk mitigation. Embedding dedicated risk management ensures compliance, builds customer trust, and positions brands as leaders in trustworthy AI adoption.
- Ensure the MarTech stack is scalable and optimized for AI use cases: Customer data platforms (CDPs) are essential for maximizing AI’s value in marketing. Advanced cloud-native MarTech stacks with real-time CDPs enhance scalability and data integration, delivering personalized experiences. Companies adopting this infrastructure achieve significant competitive advantages, unlocking AI’s full potential and leading in innovation and customer engagement.
Also Read: How AI Augments, Not Replaces, Human Marketing Skills, Says Amanda Cole
Satish H C, EVP and Chief Delivery Officer, Infosys, said, “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. Businesses can swiftly adapt to changes and enhance their competitive edge by focusing on disintermediation for agility. 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 maximize operations while taking advantage of advances in marketing effectiveness and personalization in an AI-first future.”
Sumit Virmani, EVP and Global Chief Marketing Officer, Infosys, said: “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 recognize AI’s, especially generative AI’s, potential to help them rewire marketing for greater effectiveness. They know it can also amplify marketing impact on 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.”
