AI adoption in business: driving growth and success

You might feel overwhelmed by the rapid pace of news surrounding AI adoption. The information can seem excessive and comes at you quickly.

At this point, you probably have a surface-level understanding. You’ve read headlines, and articles from pundits on both sides. “AI is the future.” “AI is a risk we can’t control.”

Beyond what’s trending, there lies a more nuanced reality. And AI’s potential probably lies somewhere in the middle of two extremes. Yes, AI is disruptive and will impact jobs in a way that isn’t entirely predictable. For an understanding of how to effectively design your strategy around these changes, refer to our guide on how to design an AI marketing strategy . Yes, AI is also the future, and we should start to weave it into daily operations.

What’s useful at this point is not to make assumptions based on headlines - but get to know this technology yourselves. Its potential is here already, with various applications emerging frequently. To explore some of the best AI marketing tools available today, take a look at our detailed review. In-depth knowledge of its applications may be what separates (at this early stage) leaders from followers in the AI revolution.

The AI overload dilemma

A rapid influx of news - from opposing sides - is bound to cause confusion. For deeper insights into AI’s impact on marketing, consider reading about AI in B2B marketing and how it’s reshaping strategies. Here’s a sample of AI headlines, which veer between AI hype and fear:

• The risks behind the generative AI craze (fear)

• We need to talk about how good AI is getting (hype)

• Centralised AI is dangerous: how can we stop it? (fear)

• How artificial intelligence is transforming the world (hype)

Extreme views can paralyse decision-making. So will an influx of information. This is why steering through the fog (and understanding the real applications of AI) is important for getting a head start in this landscape.

Hesitation in the face of AI overload can lead to missed opportunities.

5 hard facts about AI

Amongst all the confusion, it’s worth homing in on the truth. There are some undeniable facts about AI concerning its growth and ROI, which illuminate the potential of this technology in business. And which help steer a course of action.

Here are five that you need to know:

1. AI adoption is spreading

Last year (2023), less than a third of business leaders adopted AI in two or more business functions. This year (2024) that’s grown to half of business leaders.

This growth, in just a year, signals a clear trajectory. It also shows that AI isn’t a gimmick. Used across two or more business functions, AI is more than a single-use application - and businesses are clearly adopting the transformative technology to maintain a competitive edge.

2. AI skills are in short supply

AI training has lagged well behind AI development. Microsoft tells us that whilst two-thirds of leaders want to hire people with AI skills, only 39% of users have received AI training from their company.

A skills gap means it’s well worth employers training up their employees. In-house training means that companies can cultivate AI knowledge without relying on external hires.

3. AI regulations are solidifying

Around the world, more than 37 countries have proposed AI-related legal frameworks, to address AI governance. While the legal frameworks can differ slightly across nations, the EU AI Act is one of the most notable and comprehensive.

This global push underscores a move towards AI in business and beyond. It also marks a sea change in the way AI is used - from experimental, to a more standardised approach that can deliver significant results.

4. AI “hogs” VC funding

As the Wall Street Journal puts it, AI is “hogging” VC funding. In the 3rd quarter of 2024, AI received 31% of global VC funding, compared to retail tech (8%) or fintech (13%)  - previously dominant fields.

Such a large piece of the investment pie again signals that AI is being prioritised as a key driver of business growth and innovation.

5. AI inflates productivity

Extensive is the key word here – single-use AI use cases don’t prove so effective. But when integrated across many business functions, leaders can begin to see productivity gains that have a positive impact on their revenue.

Become an AI leader, not a follower

At the start of the internet revolution, early adopters were some of the beneficiaries.

Domain names are a good example of this. People who registered common domain names (those that would sell later) profited in a big way.

Business.com was sold for $7.5 million in 1999. Insurance.com was sold for $35.6 million in 2010.

With AI, it can be difficult to guess profit phenomena like this. However, putting your business at the forefront of AI innovation allows you to better seize emerging opportunities. Business leaders taking a wait-and-see approach to AI adoption risk missing out on revenue and innovation opportunities.

Did you know that 74% of early AI adopters already have ROI?

Is AI adoption changing marketing processes?

AI has been welcomed and adopted readily by marketers. In 2024, 91% of marketers are already using AI in their jobs.

There’s also a positive outlook around AI - with 69% of marketers believing AI will create new job opportunities.

Marketers appreciate AI in marketing processes for its ability to:

Optimise processes (57% )

• Running and analysing A/B tests for marketing campaigns

• Using AI-powered tools for content analysis and keyword optimisation

• Ad spend adjustment in real-time

• Tracking customer behaviour

Automate processes (53% )

• Automating the setup of email marketing campaigns

• Automating the scheduling of social media posts and curation of content

• Handling customer inquiries and providing 24/7 support

• Lead nurture based on interaction patterns

Predict outcomes (50% )

• Using historical data and trends to forecast campaign success rates

• Predicting future customer behaviour such as purchasing patterns

• Analysing customer data to take proactive retention measures

Generate content (49% )

• Creating various types of content including blog posts, social media captions, and video scripts, speeding up the creative process

• Email subject lines and body text creation

• Ad copy for campaigns

• Designing graphics, videos, and other multimedia content

AI for content variation

Marketers spend a lot of time testing out their content and making variations.

If an email subject line doesn’t hit the mark, copywriters must create alternative options. Using AI for content variation, copywriters can use the tool to riff off their original idea. AI is good at taking existing copy and varying the tone, structure, or emphasis.

Another example is audience segmentation. AI can take content and repurpose it for the various audience segments - allowing marketers to reach a broader demographic and improve their customer relations.

Marketers highlight efficiency (51%) as the biggest ROI of AI, followed by improved customer relations (50%).

Seize AI opportunities

When it comes to AI adoption, business leaders can’t afford to sit on the sidelines. Swinging between AI hype and fear isn’t useful - and it’s more important that leaders embrace real applications of AI across business functions.

In marketing, AI can be adopted in processes like:

• Optimising copy with A/B testing

• Keyword research and content analysis

• Ad adjustments in real-time

The true advantage of AI lies in action. Taking action now – training your employees, integrating new tools, optimising your processes – equals a competitive advantage and “leg up” in this new landscape.

Don’t just watch the AI adoption revolution. Lead it.

Frequently asked questions