In a recent poll conducted by OLIVER, a prominent in-housing and marketing ecosystem specialist in the UK, it was discovered that marketers in the region unanimously believe in the potential of artificial intelligence (AI) to provide a competitive edge. However, despite this enthusiasm, nearly half of the respondents (47%) do not plan to allocate a dedicated marketing budget for AI. The survey also unveiled several challenges that hinder the adoption of AI in marketing, including a lack of expertise, copyright concerns, and regulatory ambiguity.
AI’s competitive advantage acknowledged
The poll, which gathered insights from clients across OLIVER’s extensive portfolio, highlights that UK marketers are increasingly recognizing the competitive advantage that AI can offer in the dynamic marketing landscape. AI technologies have the potential to transform marketing operations and enhance efficiency across the board.
Simon Martin, the founder and CEO of OLIVER, emphasized the positive results and reactions observed when implementing AI solutions within the company’s portfolio, particularly through their partnership with Gen AI specialist Pencil. However, he also acknowledged that there are challenges that organizations must overcome to fully embrace this game-changing technology.
Budget allocation remains an issue
One notable finding from the survey is that almost half of the respondents (47%) do not intend to allocate a dedicated marketing budget for AI. While marketers acknowledge the potential benefits of AI, budgetary constraints or uncertainties seem to be a barrier to investment in this transformative technology.
Testing generative AI and expertise shortage
The survey also revealed that 47% of respondents are not actively testing generative AI, indicating a hesitancy to explore and implement this advanced technology. Furthermore, a significant majority of participants (63%) expressed that their organizations lack the necessary expertise to strategically and effectively leverage AI in their marketing efforts.
Copyright and security concerns
Concerns related to copyright and security are major obstacles preventing a faster rollout of generative AI capabilities. A striking 84% of respondents identified these concerns as significant roadblocks to embracing AI technology. As AI-generated content becomes more prevalent, businesses are grappling with the legal and security implications of automated content creation.
Regulatory uncertainty hampers progress
In addition to copyright and security concerns, 75% of the survey participants mentioned that unclear regulatory aspects are holding them back from fully harnessing the potential of AI in marketing. The evolving regulatory landscape surrounding AI technologies adds another layer of complexity to the adoption process.
Generative AI seen as efficiency enhancer
Despite the challenges and reservations expressed by UK marketers, the survey found that they view generative AI as a key tool for achieving efficiency gains within their organizations. An overwhelming 89% of respondents associated AI with enhancing operational procedures and efficiency. Moreover, 74% identified process efficiency as the primary success criterion for AI adoption in marketing.
Areas of marketing most likely to face disruption
When asked about the areas of marketing operations most likely to face disruption from AI, respondents pointed to content production, with 89% identifying it as a prime candidate for transformation. Additionally, 47% of participants highlighted social management as an area where AI could have a significant impact.
Conversely, only 36% of respondents believed that reporting and insights were the most likely areas to face disruption, suggesting that AI’s potential to revolutionize data analytics and reporting is yet to be fully realized.
A global perspective on emerging Ttechnologies
This UK-focused poll is just the beginning. OLIVER plans to conduct a wider-ranging global survey to gain further insights into the challenges and opportunities that clients around the world face when dealing with emerging technologies, including AI. The results of this upcoming survey are expected to shed light on how businesses worldwide are navigating the evolving landscape of AI and other transformative technologies.
While UK marketers acknowledge the tremendous potential of AI in gaining a competitive edge, there are significant hurdles to overcome, including budgetary constraints, expertise shortages, copyright and security concerns, and regulatory ambiguities. However, with the right support and strategies in place, businesses can harness the power of AI to reshape their marketing ecosystems and stay ahead in an increasingly AI-driven world.
