Marketers are not using AI effectively

A poll by marketing agency Oliver said 47% of marketers are not currently using generative AI and 63% of respondents feel they lack the expertise to utilise AI effectively.

Commenting on the study, Tatiza Gondim, head of marketing at global payments solutions provider Clear Junction, said financial organisations need to prioritise AI education, foster a culture of AI adoption, and address concerns about security and regulatory compliance.

“Financial institutions can benefit significantly from it, especially in areas like operational efficiency and fraud prevention,” said Gondim.

“A proactive approach is required to navigate the complexities and uncertainties surrounding AI adoption to unlock its true potential.”

The report also found that nine in ten UK marketers associate AI with enhancing operational procedures and efficiency.

However, Daria Kępa-Green, marketing director at digital risk processing platform Cytora, told Financial Promoter that marketers are wise to be cautious about AI.

“There are questions around the accuracy and legal standing of generative AI outputs – particularly imagery – and, although very impressive, services like ChatGPT aren’t refined enough to produce high quality marketing copy.”

The use of generated AI imagery or copy will still need to be carefully reviewed and amended, said Kępa-Green, reducing the ability to automate marketing copy – at least for now.

“What we are likely to see in the short term is AI playing a much bigger role in improving the efficiency and speed of routine back-office marketing functions, such as data entry and cleaning, as well as analysis,” Kępa-Green added.

Oliver said it would follow up its UK poll with a global survey to help it gain further insight into the use of emerging technologies, including AI.

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