ACRIP
AI-Powered Marketing and Sales Reach New Heights with Generative AI
Article

AI-Powered Marketing and Sales Reach New Heights with Generative AI

McKinsey & Company
McKinsey, 2023
Read the article

Read or listen offline

Amazon Kindle
  • 0.5×
  • 0.75×
  • 1×
  • 1.25×
  • 1.5×
  • 1.75×
1×

Editorial Rating

8

Qualities

  • Applicable
  • Overview
  • Hot Topic

Recommendation

Leaders are optimistic about the potential of machine learning and artificial intelligence to revolutionize sales and marketing, according to McKinsey research, yet few companies are harnessing these new technologies. Glean useful insights into how the most successful businesses are engaging customers, driving growth and boosting productivity using tools such as GenAI, and learn how to undertake your own AI transformation journey in just six action steps. Remaining competitive in the future will require changing your engagement models, and harnessing AI to appeal to consumers who “want everything, everywhere, and all the time.”

Summary

Boost personalization, growth and productivity with machine learning and artificial intelligence.

Machine learning (ML) and artificial intelligence (AI) are pushing boundaries and redefining the roles of sales and marketing. McKinsey research suggests that you could soon automate a fifth of your current sales functions. Over the past decade, AI-focused venture capital investment has risen 13-fold, triggering an “explosion” of data that foundation-model training can leverage. In particular, generative AI (GenAI) has the possibility to revolutionize sales and marketing, as it can create content, ranging from writing to images, at an astonishing speed using training data. Companies that invest in AI are seeing revenue upticks between 3% and 15% and sales growth between 10% and 20%.

Emerging AI technologies, such as GenAI, have the potential to impact sales and marketing in three key areas:

  1. Customer experience (CX) – Creating hyper-individualized offerings and content can enable companies...

About the Author

Richelle Deveau is a McKinsey partner, based in Southern California. Sonia Joseph Griffin is an associate partner with McKinsey, based in Atlanta. Steve Reis is a senior partner with McKinsey, based in Atlanta.

Comment on this summary