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Artificial Intelligence &  Digital Marketing

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All marketing strategies and methods that use an electronic device or the internet to display, advertise, or sell goods or services are considered to be part of digital marketing. Businesses use online channels to further their goals through digital marketing. Websites, social media pages, targeted marketing, and email tend to increase current and potential customers. Some of the key factors that influence decision-making include customers, resellers, competitors, suppliers, promoters, the overall state of the economy, positioning, segmentation, expansion, growth, products, brands, advertising, market share, price, advertising expenditures, the number of resellers, churn, customer value, etc. It is undeniable that making decisions involves a variety of factors based on analysis, wisdom, and experience. Modern enterprises now have the chance to offer consumers vast quantities of goods thanks to technological advancements. Online channels like the internet are used by digital marketing to give businesses new ways to reach consumers with their advertising and product sales efforts. Digital marketing is the umbrella term for all strategies that, at a given moment, location, and through a given channel, have a significant impact on people. Combining big data with academic scientific research on intelligent systems has advanced digital marketing on a commercial level. (Gkikas & Theodoridis, 2019).

The term artificial intelligence (AI) is popular right now. Because of its applications’ continual expansion, both professional and personal lives have been profoundly affected. Companies have identified viable business opportunities resulting from AI adoption that are intended to increase competitiveness, reengineer products or services, or rethink business strategies. However, the first commercial use of AI did not occur until the 1980s, when the expert system paradigm achieved success. Since then, the exponential increase in computing power as predicted by Moore’s law has allowed for a gradual acceleration of its success. With significant advancements in calculation, computation, study, and design of methodologies based on intelligent algorithms, Big Data, also known as the availability of large, varied, and rapidly changing information assets, ensures that a large amount of attention is given to AI applications that have an impact on business and societies (Sestino & De Mauro, 2022). The process of integrating artificial intelligence into numerous corporate processes, systems, and day-to-day activities includes the use of cloud computing, network devices, robots, computers, and the production of digital content. Artificial intelligence computers has existed in the past, is present, and will exist in the future. Future marketing initiatives must accept the expansion and advancement of artificial intelligence. Businesses use AI software on a daily basis to streamline operations, cut costs, speed up turnaround, and boost productivity (Murgai, 2018).

In particular, digital marketing is transforming as a result of artificial intelligence (AI). Because of the rise of large data and improvements in computing power, it has become imperative to incorporate artificial intelligence into business procedures. Organizations are now better equipped to understand their customers and successfully target them with individualized digital messaging thanks to artificial intelligence. As a result, a lot of financial service companies are incorporating AI into their daily operations. The benefits of artificial intelligence for consumers have been hailed in existing literature, which highlights digital technologies that offer novel and improved goods and services that meet or beyond client expectations (Mogaji et al., 2021). Actually, businesses have recently been able to foresee and predict the potential that AI and robotics can offer to the future of the corporate sector. By utilizing instruments like data mining, pattern recognition, and natural language processing, artificial intelligence makes use of self-learning systems. Therefore, artificial intelligence is very scalable and results in spectacular cost reductions when compared to human intelligence in terms of its primary economic advantages. Additionally, rule-based software and artificial intelligence’s consistency help businesses reduce errors. Its endurance, along with ongoing upgrades and the capacity to record procedures, leads to fruitful economic opportunities (Murgai, 2018).

The development of artificial intelligence lies at the core of the progress of industry and the improvement in performance of all other technologies. There is enough data in the literature to support the claim that AI technology presents fresh possibilities that have the potential to significantly alter corporate operations and the state of the economy as a whole. The quick discovery of patterns in large data sets, quick visualization and analytics, improved product design, the provision of precise insights, and many other advantages of AI are some of its business-level advantages. These advantages should lead to higher profit margins, improved business growth, and new levels of customer service. It’s anticipated that these advantages will result in higher profits, corporate expansion, better cost structures, and new levels of customer service (Soni et al., 2020).

Aside from automating processes within a business, AI can also be used to develop fresh or improved goods and services that help customers automate their own tasks. Conversational intelligent agents, like Apple’s Siri and Amazon’s Alexa, are an example of this. These agents can automate chores like texting, making calls, and playing a music using voice commands. In order to allow speech interaction for smart home automation, these agents can also be connected to gadgets like Arduino and Raspberry Pi. Simple household duties like controlling the TV and lighting can be automated with the help of these technologies. Another instance is the development of facial recognition in smartphones, which streamlines the process of user verification. These illustrations highlight the wide range of potential uses for AI as well as the variety of fields in which they can be applied to automate work (Sestino & De Mauro, 2022).

References

Gkikas, D. C., & Theodoridis, P. K. (2019). Arti fi cial Intelligence ( AI ) Impact on Digital Marketing Research. 1251–1259.

Mogaji, E., Soetan, T. O., & Kieu, T. A. (2021). The implications of artificial intelligence on the digital marketing of financial services to vulnerable customers. Australasian Marketing Journal, 29(3), 235–242. https://doi.org/10.1016/j.ausmj.2020.05.003

Murgai, A. (2018). Transforming Digital Marketing with Artificial Intelligence. International Journal of Latest Technology in Engineering, Management & Applied Science, VII(Iv), 259–262.

Sestino, A., & De Mauro, A. (2022). Leveraging Artificial Intelligence in Business: Implications, Applications and Methods. Technology Analysis and Strategic Management, 34(1), 16–29. https://doi.org/10.1080/09537325.2021.1883583

Soni, N., Sharma, E. K., Singh, N., & Kapoor, A. (2020). Artificial Intelligence in Business: From Research and Innovation to Market Deployment. Procedia Computer Science, 167(2019), 2200–2210. https://doi.org/10.1016/j.procs.2020.03.272

Diluka Bandara
Diluka Bandara
senior student, Rajarata university of Sri Lanka

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