AI is poised to play an increasingly important role in the development of marketing, according to the Lessons of 21-Century Brands study released by Forbes Insights and Quantcast, drafted on the basis of a survey of 504 high-level marketing executives.
Most respondents expect that AI-based solutions will be useful in delivering precise measurments (72%), real-time awareness of customers’ and prospects’ needs (55%), deeper behavioral segmentation (53%), and messaging themes that drive engagement (52%).
Survey results show that brands believe AI will help them deepen their relationships with customers and prospects. 80% think the technology will enable them to focus their time on strategy by removing some of their day-to-day tasks. It is also expected to provide refined online customer experience (58%) and generate targeted, personalized messaging (55%).
More than a half of respondents (52%) claim that they have seen an increase in sales, and 51% say they have seen an increase in customer retention since introducing AI capabilities.
The report shows that brands plan to significantly invest into AI within the next three years. 53% percent say they will be increasing their commitment on AI by 25% to 49%, and 17% will boost their spending by 50% to 74%.