Companies Are Increasing Their Spending On Generative AI For Marketing Purposes, New Survey Proves

The latest survey from Gartner is shedding light on how so many companies are spending more on the realms of Generative AI technology.

The news comes when most of us were contemplating whether or not Generative AI was the best step forward for the world as some felt it could soon take over their jobs. But thanks to a new study, so many companies disagree and want to invest more in the latest technology to reap benefits.

The survey showed that out of those who were surveyed, close to 63% wished to invest in the technology in the next two years. But then a great query arises in people’s minds about how much of that would actually be used on a daily basis.

So many companies admitted that the combined usage fell for their respective martech stack. The figures reached just 33% of the average this year, previously highlighted as 42% last year and then 58% in 2020. Moreover, firms making use of close to 50% of the stack are outlined to be less likely to be questioned about the budget cuts of Martech.

As a whole, companies are really investing close to 25.4% of this year’s marketing funds from their budget on this new type of technology.

A top analyst from Gartner was seen speaking about how CMOs understand the value that Generative AI comes with and the obstacles that occur simultaneously.

But as can be mentioned by other experts too, there’s a major hesitation between spending more on Generative AI to facilitate utilization or actually joining resources together to make room for apps that use this technology to prevent suffering from such issues.

Read next: AI Generative Tools: A Global Analysis of Interest, Innovation, and Their Impact
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