The term "generative AI" was in the making for several years and started gaining some attention in the mid to late 2010s, as advancements in machine learning (ML) and deep learning algorithms resulted in more sophisticated generative models. The idea, however, took off in 2020, following the introduction of GPT-3—Open AI’s 175-billion-parameter “large” AI model. This technology's brilliance is in its ability to produce human-like content from simple input prompts. 2022 became the year of generative AI when GPT-3-based ChatGPT took the world by storm, gaining 100 million users in just two months and becoming the fastest platform to do so.

Marketing and sales content creation is one of the many use cases of large AI models still being explored. These models can produce personalized content faster at a lower cost, while their subscription-based pricing options make them accessible to firms of all sizes. As a result, generative AI tools are rapidly gaining popularity and have already demonstrated their potential to revolutionize marketing. A 2023 survey revealed that 17.4% of businesses are already using these tools, while 45.3% expect to do so in the future.

In this Insight, we take a detailed look at how generative AI can be used to create content for marketing and sales, potential use cases, drivers of demand, risks to growth, and future direction.