• by Ray Schultz , Columnist, July 10, 2023

Marketing teams are investing in Gen AI despite well-placed fears about its effectiveness and cost, according to a new study by Sitecore.  

Some teams have already paid for tools like Jasper or DALL-E 2, and others are experimenting with the free version of Chat-GPT. 

Of the companies polled, 74% are mulling an investment, and 23% have definite plans. However, 72% believe it is too early to spend money on generative Ai technology. And 76% are worried about constantly having to change their tech budgets. 

Moreover, 41% are concerned about legal vulnerabilities—i.e., in the data privacy area. Another 45% worry about the sheer cost. And 26% worry that they will “be constantly playing catch-up on modernization.” 

Overall, the Sitecore survey suggests that marketing professionals in the US are generally optimistic about the power of generative AI to improve customer experience and create jobs. The vast majority are experimenting and it will be a major area for investment. 

However, the study concedes that this is a very fast moving area. This is creating some logistical issues — including waiting for the right moment to invest. It is possible “we may see opinions go in a different direction if experiences of generative AI don’t live up to the hype.

Case in point: The survey suggests that 72% of organizations believe that it is too early to invest in “generative AI tech." Additionally, 76% acknowledge they have to constantly change their budget plans to “address new trends in technology."

Do marketers fear their jobs are at risk? No—rather, 82% believe AI will lead to more or new jobs—for example, marketing AI specialist (78%) and generative AI specialist (71%). They also believe there will be demand for content management specialists and creatives. 

At the same time, 79% see AI as a priority, compared to only 36% who say the same about the metaverse.

In addition, 78% say AI will get them closer to their desired customer experiences, while 7% think it might have the opposite effect. And 75% feel they will be able to create more personalized content. 

Sitecore surveyed 400 marketing professionals. The article was written by Ryan Bennett, co-founder of San Francisco-based digital experience agency, Cylogy, Inc.