A recent study by Algomarketing surveyed over 300 global marketing leaders at large companies regarding their use of AI and automation. The results revealed some interesting insights.
More than half of the respondents cited cost as a major challenge to adopting these technologies. However, for those using AI tools, the return on investment was significant – with most seeing over 50% increases in ROI on marketing spend.
Surprisingly, marketers in the US were less likely to be using AI tools compared to the UK and Australia. Only about a quarter of US respondents said they’ve adopted AI in the past three years, versus 45-55% in other regions.
Looking ahead, marketers in Australia and the UK are dedicating the most resources to AI. Two-thirds of respondents in these countries plan to increase AI budgets next year. They are also more likely to be hiring staff with AI expertise compared to the US.
Many marketers are struggling to find talent skilled in both marketing and AI – less than a quarter said they have adequate internal resources. Over half are using a mix of in-house staff and external partners to implement AI tools.
Ethical concerns around bias and fairness have caused implementation delays for many – around a third said these were significant delays.