Infosys Knowledge Institute, the research division of Infosys, has released the CMO Radar 2024 report, which highlights the growing impact of AI in marketing. This report underscores the influence of CMO AI fluency on business value, revealing how Chief Marketing Officers (CMOs) are leveraging AI to drive results and increase their influence within corporate strategy.

Key Insights from CMO Radar 2024

• AI Adoption Across Marketing Functions

  • 96% of marketing leaders have implemented AI in at least one activity.
  • However, nearly half of AI initiatives (48%) face challenges in delivering measurable business value.
  • CMOs fall into three categories based on AI fluency: Leaders (13%), Learners (60%), and Laggards (27%).

• AI-Driven Business Value

  • Predictive AI for Customer Insights: Allows CMOs to personalize campaigns, meet customer expectations, and improve ROI.
  • Generative AI: Integrates data, creativity, and expertise, enhancing team capabilities and internal AI proficiency.

• Strategic Importance of AI Fluency for CMOs

  • CMOs fluent in AI see a 62% rise in their strategic influence within the C-suite.
  • Over the next 18 months, AI-driven initiatives are expected to deliver up to 15% productivity gains, 13% cost savings, and 11% faster speed to market.

Four Tactics for AI Success in Marketing

1. Embed AI into Processes

   • AI solutions are integrated directly into business workflows, allowing for real-time data-driven decisions.
   • Clear governance and communication align stakeholders with AI's goals and KPIs.

2. Align AI and Business Strategy

   • Responsive AI strategies are closely linked to both marketing and business objectives.
   • Successful CMOs build AI capabilities across the entire marketing lifecycle based on value and feasibility.

3. Implement AI Risk Management

   • Although 43% of organizations rely on ad hoc risk management, leaders use systematic risk strategies.
   • Dedicated risk protocols increase compliance, brand trust, and foster responsible AI adoption.

4. Optimize the MarTech Stack for AI

   • AI-optimized MarTech stacks, including Customer Data Platforms (CDPs), are crucial for scalability and real-time personalization.
   • Advanced cloud-native tools enable brands to leverage AI fully, creating competitive advantages in engagement and innovation.

CMO and Industry Leaders on the Future of AI in Marketing

• Satish H C, EVP and Chief Delivery Officer, Infosys

  • Highlights AI’s transformative role, encouraging businesses to embrace agility and disintermediation for competitive advantage.
  • Mentions Infosys Aster as a tool to enable CMO-led digital marketing innovations.

• Sumit Virmani, EVP and Global CMO, Infosys

  • Acknowledges CMOs’ dual role in short-term growth and long-term brand impact.
  • Affirms AI, particularly generative AI, as a key lever to enhance marketing's effectiveness and influence.

The CMO Radar 2024 report provides essential guidance for marketing leaders aiming to harness AI for growth, innovation, and strategic influence. With actionable tactics for embedding AI across marketing operations, CMOs can lead effective transformations and drive measurable business outcomes, positioning themselves as essential strategic players.