Companies have long had the data they need to create hyper-personalized experiences. But it’s been housed in disparate data sets across multiple departments, and marketing didn’t have the power to harness it—until now.
Generative AI fuels both high-octane content creation and real-time data analysis, giving marketing teams the nitro boost needed to deliver bespoke customer communications. This can both supercharge the organization’s brand and introduce new risks. In this environment, 76% of CMOs say generative AI will change the way marketing operates—and 76% also say the failure to quickly adopt generative AI will significantly hurt their ability to stay competitive. While many marketing organizations are already using generative AI based on public large language models (LLMs) for content creation, few have tapped this game-changing capability for extreme customization by feeding the models their own data. But that will soon change, as more than half (51%) of CMOs say they have plans to build foundation models with proprietarydata—the intellectual capital about customers that sits in marketing—before the end of 2024.
Generative AI offers a way to create content faster with more personalized messages, and it gives marketing executives more control over analytics, making it far easier to distill insights from customer data with speed and specificity at scale. It highlights patterns that tease out the details of customer preference, letting marketers finally go beyond targeted segmentation to serve up truly individualized offers and interactions.
