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Introduction:

This HBR article by Jeremy Korst and Stefano Puntoni provides valuable perspectives on how marketing and sales leaders can leverage generative AI to gain a competitive edge. The article highlights key findings on leader perceptions,adoption challenges, and recommendations for harnessing generative AI. Let's unpack the golden nuggets from this timely knowledge source.

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genioux GK Nugget:

"Thoughtful experimentation, quality controls, and training enable marketing leaders to harness generative AI for enhanced personalization, content creation, and insights to establish advantage." — Fernando Machuca and Claude

genioux Foundational Fact:

While most marketing leaders foresee generative AI benefits, cautiousness and lack of familiarity have stalled adoption. A test-and-learn approach, coupled with policies for data governance and oversight, allows leaders to determine high-impact applications while mitigating risks.

10 genioux Facts:

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Generative AI can transform marketing processes like advertising, retail, and research through information processing at scale.
Marketing roles may be significantly impacted by advances in automated text and image generation.
Generative AI improves marketing productivity via personalized content, customer engagement, data insights, lead generation.
Despite the potential, marketing leaders lag in generative AI familiarity and adoption compared to other functions.
Leaders more actively using AI feel greater enthusiasm, while the less experienced feel caution.
Concerns on accuracy, ethics, compliance, and confidentiality contribute to hesitant adoption.
Training and test-and-learn approaches help determine high-value applications.
Policies safeguarding data and quality controls mitigate risks of errors and misuse.
Generative AI boosts productivity and creativity rather than replaces human skills.
Thoughtful adoption and oversight establish advantage, as most businesses pass the AI tipping point.

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Conclusion:

Marketing leaders have an opportunity to gain a competitive edge by prudently embracing generative AI's capabilities after thorough evaluation. With the right strategy, they can unlock enhanced personalization, content creation and insights while proactively addressing ethical and accuracy risks. The key is to complement human ingenuity with AI's scale through an agile test-and-learn approach.

REFERENCE

The GK Article

Jeremy Korst and Stefano Puntoni, 5 Ways Marketing and Sales Leaders Can Embrace GenAI, November 16, 2023

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Jeremy Korst

Jeremy Korst is the president of GBK Collective, a strategic-insights, consumer-behavior, and analytics consultancy. He has previously held senior executive roles at Microsoft, T-Mobile, and Avalara, among other brands.

Bing Chatbot: Jeremy Korst

Jeremy Korst is a seasoned marketing and product management executive with a proven track record of helping brands translate customer and competitive insights into marketing and product innovation¹. He is currently the President of GBK Collective, a strategic marketing and insights practice¹.

Korst has held senior executive roles at several leading brands including Microsoft, T-Mobile, AT&T, and Avalara¹. Notably, he was the general manager of Microsoft’s Windows Commercial group, where he was responsible for the worldwide product marketing and sales of Windows to organizations⁴. He and his team led the highly successful global launch of Windows 10⁴.

In addition to his role at GBK Collective, Korst serves on several boards, including the Board of Trustees for the University of Puget Sound, and the Executive Board for Executive Education at the Wharton School at the University of Pennsylvania¹. He is also active in the startup community, serving as an advisor or board member for companies including Athlete Intelligence, Shoelace Wireless, Track Attack, and Ultra Mobile¹.

Korst holds an MBA from the Wharton School at the University of Pennsylvania, graduating as a Palmer Scholar, and his BA from the University of Puget Sound, cum laude¹.

Source: Conversation with Bing, 11/16/2023

(1) Jeremy Korst — GBK Collective. https://www.gbkcollective.com/team-profiles/jeremykorst.

(2) Jeremy Korst - Crunchbase Person Profile. https://www.crunchbase.com/person/jeremy-korst.

(3) Working Geek: Marketing leader Jeremy Korst is at home in ... - GeekWire. https://www.geekwire.com/2018/working-geek-marketing-leader-jeremy-korst-home-board-room-dude-ranch/.

(4) Jeremy Korst - Crunchbase Person Profile. https://bing.com/search?q=Jeremy+Korst+summary.

(5) Why the Best Tech Firms Keep Customers Front-of-Mind. https://hbr.org/2020/01/why-the-best-developers-keep-customers-front-of-mind.

(6) GBH Insights Accelerates Strategic Growth; Names ... - Business Wire. https://www.businesswire.com/news/home/20181030005674/en/GBH-Insights-Accelerates-Strategic-Growth-Names-Marketing.

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Stefano Puntoni

Stefano Puntoni is the Sebastian S. Kresge professor of marketing at the Wharton School, where he serves as the co-director of AI at Wharton.

Bing Chatbot: Stefano Puntoni

Stefano Puntoni is the Sebastian S. Kresge Professor of Marketing at The Wharton School¹. Before joining Penn, he was a professor of marketing and head of department at the Rotterdam School of Management, Erasmus University, in the Netherlands¹. He holds a PhD in marketing from London Business School and a degree in Statistics and Economics from the University of Padova, Italy¹.

His research, which has appeared in several leading journals, investigates how new technology is changing consumption and society¹. He also writes regularly for managerial outlets such as Harvard Business Review and MIT Sloan Management Review¹. He is currently an Associate Editor at the Journal of Consumer Research and at the Journal of Marketing¹.

In addition to his academic work, Puntoni serves as the Co-Director of AI at Wharton and the Wharton Human-Centered Technology Initiative¹. He teaches in the areas of marketing strategy, new technologies, brand management, and decision making¹. His research explores the psychology behind the fear of AI and its roots in human identity².

Source: Conversation with Bing, 11/16/2023

(1) Stefano Puntoni – Marketing Department. https://marketing.wharton.upenn.edu/profile/puntoni/.

(2) Rise of AI: How Is AI Shaping Human Identity? | Stefano Puntoni. https://knowledge.wharton.upenn.edu/podcast/ripple-effect/rise-of-ai-how-is-ai-shaping-human-identity-stefano-puntoni/.

(3) How AI Affects Our Sense of Self - Harvard Business Review. https://hbr.org/2023/09/how-ai-affects-our-sense-of-self.

(4) Stefano Puntoni - Wharton Executive Education. https://executiveeducation.wharton.upenn.edu/faculty/stefano-puntoni/.

The categorization and citation of the genioux Fact post

Categorization

This genioux Fact post is classified as Breaking Knowledge that means: Insights for comprehending the forces molding our world and making sense of news and trends.