Marketers are increasingly pessimistic about the economy, with sentiment reaching its lowest level since the pandemic in 2020. In response—and facing organizational pressures for returns—marketing activities are contracting, lowering spending and prioritizing existing customers over expansion opportunities. At the same time, companies are accelerating adoption of artificial intelligence, projecting that AI will account for more than half of all marketing activities within three years. Yet this rapid technological progress is outpacing organizational readiness, with no marketing technology activity currently delivering at its full potential. These are among the findings of the 35th edition of The CMO Survey, directed by Professor Christine Moorman of Duke University’s Fuqua School of Business and co-sponsored by Deloitte and the American Marketing Association. The survey was conducted from January 7 to January 29, 2026. It polled 308 marketing leaders at for-profit U.S. companies, 97% of whom are VP-level or higher. Duke Fuqua Insights features digestible conversations with our faculty about the most impactful research from their careers, including studies they teach in Fuqua classes. New episodes every other week in season. For more from Duke Fuqua, visit us on LinkedIn (https://www.linkedin.com/school/fuqua-school-of-business/posts/) , Instagram (https://www.instagram.com/dukefuqua/) , Facebook (https://www.facebook.com/Duke.Fuqua) , Bluesky (https://bsky.app/profile/fuqua.duke.edu) , and the Duke Fuqua Insights (https://www.fuqua.duke.edu/duke-fuqua-insights#campaign_form) newsletter.