A recent Forrester Research report discusses how artificial intelligence (AI) is significantly influencing the role of chief marketing officers (CMOs). By the end of 2024, the report predicts that experience with generative AI will be a prerequisite in 20% of new CMO job descriptions.
Despite this forecast, an examination of 165 US CMO job postings found no reference to AI responsibilities. Industry experts are surprised by this gap, emphasizing that CMOs are expected to lead AI initiatives.
The report suggests that rather than hiring AI specialists, CMOs should designate AI transformation leaders within each marketing sub-function. This approach aims for a unified strategy while avoiding fragmented accountability.
Additionally, CMOs are urged to dedicate time to understanding AI, often using AI tools to streamline routine tasks, even outside regular work hours. This underscores the importance placed on staying current with AI advancements.
As AI continues to evolve, CMOs are advised to reconsider their partnerships, and collaborate more closely with chief technology officers. Companies such as Estée Lauder and Coca-Cola are already teaming up with Microsoft to accelerate AI initiatives, reflecting this shift.
The role of the CMO is expanding to include shaping AI strategies for marketing, essential as AI becomes integral to marketing operations. Routine tasks are increasingly automated by AI, allowing human teams to focus on higher-value activities.
Shiv Singh, an experienced marketing leader formerly with PepsiCo, Visa, Expedia, and LendingTree, predicts that AI will revolutionize the marketing function.
A report by MMA Global India & GroupM underscores that marketers prioritize high-quality internal data—such as brand essence, past communications, consumer insights, and platform performance—to ensure AI models are effectively trained for practical use.
Organizational transformation is crucial for maximizing AI’s impact in marketing, necessitating integration across finance, technology, CMI, sales, and talent management. This involves rapid evolution in budgeting, talent management, and a robust “Test and Learn” approach.
Moreover, investments in data and marketing technology are increasing, with shared responsibility for implementation and utilization among marketing, finance, and technology leaders.
AI is reshaping agencies as well, fostering new integrated models centered on AI-enabled platforms to facilitate seamless collaboration and co-creation.
