CMOs Double Down on GenAI: $10M+ Annual Investments Planned Through 2028

Chief Marketing Officers (CMOs) are ramping up their commitment to Generative AI, with 71% planning to invest over $10 million annually in GenAI initiatives for the next three years, according to a new Boston Consulting Group (BCG) report. This marks a significant jump from 57% last year, highlighting surging optimism despite ongoing economic volatility.

 

Key Highlights

 

•⁠  ⁠Unprecedented Optimism: 83% of CMOs now express confidence in GenAI’s potential, up from 74% in 2023, while concerns about the technology have sharply declined.

 

•⁠  ⁠Strategic Focus: Investments are set to target content creation (especially immersive media and video), AI-driven personalization, and agentic AI to automate marketing workflows.

 

•⁠  ⁠Customer Experience Gains: Over one-third of CMOs report substantial improvements in customer experience and content quality due to GenAI, though fewer cite efficiency gains compared to last year.

 

•⁠  ⁠Revenue Expectations: 60% of CMOs anticipate GenAI will drive revenue increases of 5% or more in their core areas.

 

•⁠  ⁠Talent Over ROI: CMOs are prioritizing talent development and scalable pilots over traditional ROI measurement, leveraging past investments in first-party data.

 

Outlook

 

As GenAI becomes integral to marketing, CMOs are moving from pilot projects to full-scale implementation, betting big on AI’s ability to fuel growth, enhance personalization, and transform customer engagement. The next three years will be pivotal as these investments reshape the marketing landscape.

 

Source: Boston Consulting Group, Yahoo Finance, ANI News