In 2023, the AI marketing industry was worth approximately $23.5 billion. It’s expected to grow to nearly $140 billion in 2032. The AI marketing market also encompasses both big enterprises and small businesses, with both planning to increase their investment in AI in the next few years. Researchers also project that the AI industry as a whole will contribute $15.7 trillion to the world’s GDP by 2030.

Approximately 98% of marketers already use AI in some way. However, only about 67% have a fully formed AI marketing strategy, and only under a quarter have fully integrated their marketing systems with AI. However, the AI marketing industry is projected to grow exponentially in the coming years, with 90% of businesses planning to increase their AI investment in 2024.

AI has impacted marketing mostly by helping create content like blogs and websites, automating tasks like email and social media campaigns, and targeting campaigns more accurately thanks to more precise data insights. AI has also helped simplify market research and analysis, and studies say it improves productivity and workflow efficiency. On the flip side, AI has also increased privacy, credibility, and job security concerns.