• by Joe Mandese  @mp_joemandese, April 24, 2024

The good news is that a little more than a year after generative AI applications began rolling out, they have had a substantial positive impact on marketing. The bad news is that they still are only being used in a fraction of overall marketing functions.

Those are among the surprising top-line findings from a just-released new edition of The CMO Survey.

The survey -- which is a collaboration of Duke University's Fuqua School of Business, Deloitte, and the American Marketing Association -- found that gen AI already has boosted sales productivity and customer satisfaction more than 5% and 6%, respectively, while reducing marketing overhead costs by 7%.

Even more remarkably, the study found gen AI tools have had that overall impact, despite only being deployed in an average of 7% of overall marketing activities.

As nascent as gen AI is across marketing, the study indicates "massive opportunity" for deploying it further, noting: "While abuzz in the media, only 10% of companies are using Large Language Models and 39% still have not used such tools, with the remainder evaluating or piloting the use of such tools."

The survey, which was just released this morning, is based on responses from 292 marketing leaders.

For insights on a range of other marketer issues, watch Duke professor Christine Moorman's presentation below.