According to a PwC survey, 76% of U.S. executives believe their companies won’t survive the next decade if they don’t adapt their business models
Jun 25, 2024
Despite recognizing the need for business reinvention, 90% of CMOs in the PwC study cited the high cost of new technologies as a significant challenge. In addition, 63% expressed concern that their current business models could be rendered obsolete by emerging technologies if they fail to adapt.
Key takeaways
- In terms of innovative business model rethinking, PwC highlights the importance of personalizing messages and integrating data sources to enhance marketing campaigns;
- 54% of respondents reported increased investment in marketing AI, and 43% strongly agreed that generative AI (GAI) will support new business models in marketing over the next 12 to 18 months;
- The CMO, now working closely with the CIO, will continue to forge alliances across the C-suite, particularly with the CFO. This collaboration will enable companies to manage marketing as a profit and loss function, using data in new ways to drive revenue streams.
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