The rise of AI is revolutionising the marketing industry and redrawing the map of how marketers work with data, according to research conducted by marketing data hub platform Funnel.
The use of AI for marketing purposes is fast-growing. AI Magazine recently reported that Google is incorporating the tech into its marketing ecosystem.
Meta, meanwhile, is developing a number of generative AI features aimed to provide enhanced value to businesses and users. The company is developing an AI Sandbox, which serves as a testing playground for new tools and features, including generative AI-powered ad tools.
In its second annual report, Marketing Data State of Play 2024, Funnel takes a deep dive into marketers' views on AI, the outlook for the marketing industry, and how marketers are racing to learn new skills to stay afloat in the sea of AI-driven transformation.
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Funnel’s report shows there is a level of uncertainty running through the marketing industry. Nearly two in three marketers said they fear AI may replace their jobs in the next five years, and three in four say AI tools will impact their pay or value.
Additionally, Funnel's report shows that marketers are spending a lot of time on computational tasks, with about 63% of marketers stating that they spend time on tasks that can be automated. For example, some respondents spend as much as 25 hours a month compiling reports.
While AI tools can help marketers automate the cleaning and organising of data, according to Funnel's findings, certain marketing roles, such as account management, analytics, product marketing, and SEO, demand robust data skills. Data-savvy marketers who can identify anomalies, understand the full context and extract insights to make business-critical decisions will be better equipped to harness the potential of automation and AI. The report shows that marketers are taking charge and racing to learn new skills to keep up with the rapid evolution, with as many as 85% of respondents stating that they are updating their data skillsets due to AI.
“Marketers don't need to fear AI. Instead, they should focus on upskilling and figuring out how to use automation and AI tools to increase productivity,” comments Per Made, CMO and co-founder at Funnel. “As the data-based AI transformation evolves, solid data skills will remain their greatest weapon. By automating menial and repetitive tasks and focusing on critical thinking, they can unlock their creative potential and keep delivering value in the evolving landscape.”
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