Google brings its flagship Accelerate program in Saudi Arabia with an event, with the latest advancements in AI-powered marketing to the Kingdom's thriving business landscape. Accelerate Saudi, held at Muvi Theatre in Boulevard Riyadh, revealed the latest study conducted by BCG and Google, looking at AI-Driven marketing maturity. The study shows that businesses that use AI and GenAI to power data-driven marketing strategies were found to witness 1.9x more profitable growth and are 39% more productive than 2 years ago.
In today’s market context characterized by rising prices, market volatility, and disruptive technologies, companies seeking to increase their digital maturity are facing ever-greater challenges. Exclusive insights from research on Saudi consumers done by Google and Ipsos were also discussed, providing valuable insights into consumer trends in Saudi Arabia and their decision-making processes using behavioral science principles.
"The future of marketing is here, and it's powered by AI", said Charbel Sarkis, KSA Country Director at Google, he considers this presents a significant opportunity for businesses. “Every business, regardless of its current digital maturity level, must strategically assess its capabilities and plan its growth trajectory”, he adds, “investing in advanced technologies, training integrated teams, and adopting a data-oriented culture are crucial steps for not just surviving but thriving in the digital age”.
“It's an exciting time to be a marketer using AI, through the latest tools, allowing us to understand and connect with our audience like never before”. said Basel Hijazi, Retail & KSA Marketing Lead at Google. He further added, "Consumers now expect companies to anticipate their needs, and businesses must leverage AI to meet these expectations effectively".
Google's Accelerate program equipped Saudi businesses with the insights and tools necessary to steer the evolving marketing landscape and harness the power of AI for sustainable growth and success. Research on Saudi consumers shows that 53% of consumers are open to AI-powered personalized recommendations in their shopping journey. Also, approximately 30% of Saudi consumers have increased spending on leisure, entertainment, and fashion due to the growing availability of options within the country. With inflation impacting consumer behavior, 92% of respondents indicated changes in their spending habits, with 31% actively seeking sales and discounts.