Singapore – Many marketers, 4.9 out of 10, say they are not yet ready to implement and integrate generative artificial intelligence (GenAI), according to a report from Kantar, a marketing data and analytics company.
The study has found that while many marketing leaders (9 out of 10) recognise the potential of GenAI in transforming their operations, their adoption is hindered by insufficient training and high costs.
Due to the challenges that marketers face, the report sees a gap between GenAI’s potential and its adoption. Meanwhile, 5.3 out of 10 of their external partners such as agencies and data providers, are considered to be at the forefront of new technologies. This has led to the industry not being able to unlock the full potential of GenAI tools, with its impact rated at 5.3 out of 10.
The study also considers efforts to preserve traditional marketing skills as a contributor to their hesitation to adopt GenAI.
Addressing marketers’ reluctance, Kantar details how GenAI can revolutionise marketing. This includes building long-term strategies, streamlining daily tasks, and engaging consumers in real time.
Kantar’s study aims to help marketing leaders encourage their teams to eliminate fear of GenAI tools.
Lyn Lim, head of commercial growth at Kantar Consulting, said, “The overwhelming consensus among senior marketers is that GenAI is going to revolutionise the industry. But reality today is that many companies don’t feel ready yet. We see that leading organisations are making the shift from using GenAI predominantly for efficiency reasons to now also driving effectiveness. Those that get it right will succeed by building excitement and understanding around GenAI among everyone in their business: how they can help them achieve more with greater efficiency, speed, and effectiveness. We believe APAC marketing has the potential to leapfrog the world in its adoption of GenAI, just as it’s led the world in other aspects like social commerce and mobile marketing.”
