NEW YORK––It’s a question on the minds of many in credit unions, especially those in marketing: How long before Generative AI comes for their jobs?
Generative AI has already been used to create advertising materials and reduce a “certain amount of grunt work,” noted the Wall Street Journal in its analysis of the question.
“But one question hangs over marketers: How soon will it come for their jobs?” the report asked. “The timeline is unclear, but AI’s ability to draw on vast pools of data to help create ads could begin to outpace human performance in a foreseeable future.”
As the Journal noted, the “pressure is growing” to embrace the technology in the name of both enhanced productivity and costs savings—including through layoffs.
“The biggest long-term impact, though, may be in how AI changes the nature of jobs in marketing,” the Journal reported. “Executives say they will inevitably need to reconfigure workloads and recruit people with AI expertise, while some say the shifts will leave their teams with fewer employees and smaller budgets.”
What Marketers Are Doing Now
For now, marketing officers are exploring how AI can help with tasks such as replying to social-media posts and creating personalized messages for individual users, Laura Beaudin, a partner at consulting firm Bain & Co., told the Wall Street Journal.
“From a CMO’s perspective, they are going to need to be one of the first to have a very solid explanation of what it means and how they’re adopting it,” Beaudin said.
According to a survey conducted for the Journal by research firm NewtonX, marketers’ top goal for AI for now is to increase the efficiency and effectiveness of their campaigns. When asked to name relevant objectives, 78% of marketers picked greater efficiency, while 63% said they think AI will help them produce new kinds of content, the Journal reported.
Other Findings
In addition:
- Executives believe AI will help them cut costs by around 13% on average, according to the survey, with 6% calling this their number-one priority. Internal head count reductions will be the biggest source of those savings, according to 19% of survey participants.
- The median respondent predicted they could cut two full-time employees from their brand marketing teams, thanks to AI.
- 52%, believes AI’s greatest source of savings will come from allowing marketers to reduce spending on third-party service providers, such as ad agencies, or to assign more valuable tasks to these parties.
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