Good morning, Marketer, and most of the money is going to AI.
No less than 75% of martech funding went to AI companies in Q2 of this year. That’s according to the latest MarTech Innovation Report from CabinetM. Overall funding did decline from over $13 billion in Q1 to a more modest $3 billion in Q2, but that Q1 figure incorporates a vast $10 billion infusion for ChatGPT.
At this point, I could revive the argument about whether ChatGPT counts as marketing technology at all. Yes, you can use it for some tasks in marketing. But you can also use it to draft essays, write poems and compose songs.
Whatever the case, smart money is going to AI right now and who would want to be going to investors with any kind of martech solution that doesn’t incorporate AI?
Kim Davis,
Editorial Director
