Dentsu 2024 report shows CMOs embrace AI, cultural integration to drive business transformation

The 2024 CMO Report, released by Dentsu Creative, highlights a significant shift in the role of Chief Marketing Officers (CMOs), who are now more empowered than ever to harness creativity and innovation to drive business growth.

The report, which surveyed 950 CMOs globally, reveals that 79 per cent believe marketing is a critical force behind business transformation, with 83 per cent asserting that creative ideas have the power to revolutionize their businesses.

The data underscores a growing commitment to innovation, with 56 per cent of CMOs planning to allocate more than 20 per cent of their budgets towards innovation in the next year.

This comes as 81 per cent of respondents acknowledge that creativity is now more vital to their businesses than ever before.

CMOs are calling for a new era of creativity, moving from traditional omnichannel approaches to an omnipresent strategy that permeates every aspect of business operations, from communications to commerce.

However, despite their heightened focus on creativity, CMOs face challenges in navigating the changing landscape.

The report found that 79 per cent feel pressure to anticipate customer behaviors and develop new products and services accordingly.

Additionally, while 88 per cent agree that brands need to be more embedded in culture, 74 per cent are unsure about the best strategies for making meaningful cultural connections.

Similarly, 77 per cent of CMOs agree that collaboration with other brands, platforms, and creators is essential, though 60 per cent express concern about losing control over their brand’s narrative.

The growing role of artificial intelligence (AI) in marketing is another significant finding of the report. While 67 per cent of CMOs were skeptical in 2023 about AI’s ability to create emotionally resonant content, that number has dropped to 49 per cent in 2024.

The report reveals increasing trust in AI, with 77 per cent of CMOs now interested in training AI to align with their brand’s tone and voice.

The Global Brand President, Dentsu Creative, Abbey Klaassen said, “CMOs are seeing creativity as a powerful business tool, not just in communications but across all touchpoint. We are witnessing a shift where AI is not viewed as a threat but as an enabler that can accelerate human creativity, personalisation, and real-time responsiveness.”

The report, in its fifth edition, was developed from insights across multiple markets, including the US, UK, India, and Brazil.

The report provides a strategic roadmap for CMOs to benchmark their performance and adapt to an evolving business environment.

The Global Chief Strategy Officer at Dentsu Creative, Pats McDonald, highlighted the need for brands to adapt to this era of rapid change.

“Brands today are built at the intersection of culture, commerce, and community. The challenge will be for brands to engage with their audiences thoughtfully, allowing for authenticity and scale,” said McDonald.

The 2024 CMO Report’s eight key themes, ranging from omnipresent creativity to AI as a co-pilot, offer actionable insights for CMOs navigating the future of marketing.

As they embrace these changes, the report stresses that marketing must not only answer business briefs but also be a force for societal good.

According to the survey, 78 per cent of CMOs agree that their marketing efforts should impact not just business outcomes but also society at large.

This shift in the CMO role underscores the importance of creativity, innovation, and collaboration in driving transformational change, while positioning marketing as a central force in shaping the future of business and society.