Navigating the AI revolution in marketing

Insights from Funnel's 2024 annual report

The influence of artificial intelligence (AI) in marketing has reached unprecedented heights, as revealed in Funnel's second annual report titled Marketing Data State of Play 2024.?

The report provides a comprehensive overview of the latest trends and insights, illuminating how AI is transforming the marketing industry.?

Let’s explore the dynamics of this revolution and discover how marketers can navigate the changing tides.

Marketers vs. the machines: A dance of concern

The report begins with an interesting question: "Who is winning, Marketers or the machines?"?

According to the report, about 64% of marketers are worried about the impact of AI on their jobs. They fear that AI could replace them in their jobs, and 75% of them think that AI will eventually affect their salary or job value. However, the report also highlights an important fact - AI lacks certain human qualities.

As one of the survey respondents said, "I'm paid for my critical thinking, judgment, and industry experience - all things generative AI isn't remotely close to reproducing."?

The above statement reminds us that while AI is a powerful tool, it cannot replace the unique human expertise that is necessary in many jobs.

Time spent on data activities: A cry for automation

The opportunity to automate is there

Many marketers find themselves overwhelmed by data-related tasks.?

According to the report, 63% of marketers agree that they spend too much time on tasks that could be handled more efficiently by automation tools. Some even spend up to 25 hours a month compiling reports, which is a significant time investment.

However, there is a silver lining.?

The report suggests that marketers should view automation tools as reliable assistants, not replacements.

With a range of powerful marketing tools available, marketers can streamline their workflows and focus on tasks that require the human touch.

Tune up your data skills

Funnel's 2024 annual report highlights the increasing significance of data skills in vital marketing roles like account management, analytics, product marketing, and SEO.?

In this rapidly changing landscape, marketers who possess data expertise and can identify anomalies and hidden opportunities are well-positioned to succeed. It is encouraging to note that 85% of marketers are actively updating their data skills to stay ahead of the curve.

According to Per Made, the CMO at Funnel, marketers should not fear AI. Instead, they should focus on upskilling and figuring out how to use automation and AI tools to increase productivity.?

This sentiment underscores the report's key theme of embracing the opportunities presented by AI rather than succumbing to fear.

What marketers can do

Funnel's research serves as a guide for marketers navigating the AI revolution. It encourages marketers to recognize the unique qualities they bring to the table, leverage automation as a supportive ally, and seize the opportunity to enhance their data skills.?

As the marketing landscape continues to evolve, staying informed and adaptable is key to thriving in the era of AI.

About the research

Funnel conducts an annual study to gain insights into how marketers are dealing with the data-driven world. The study involved a survey of 713 marketers from diverse backgrounds, conducted by Ravn Research, an independent and trusted firm, on behalf of Funnel. The results of the study showed that marketers are encountering several challenges, including data management and mastering AI tools.