Innovative advertising tools based on artificial intelligence

Volodymyr Voloboiev
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Volodymyr Voloboiev: Zaporizhzhia Institute of Economics and Information Technologies

Economic Synergy, 2024, issue 2, 116-128

Abstract: The article examines the features of the application of innovative advertising tools based on artificial intelligence (AI). The author's definition of the concept of «innovative advertising tool» is provided. The issue of the influence of AI technologies on the transformation of the digital marketing ecosystem and the opportunities it provides in the implementation of applied marketing tasks is considered: the generation of ideas and solutions based on big data, the individualization of user experience based on the analysis of the client's previous interactions with advertisements, the automation of most operations in marketing, optimization and ensuring advertising effectiveness. It is well-founded that the leaders in the development and application of AI-based tools are the world's technological giants, which implement developments on their advertising platforms: Google Ads, Facebook Ads, Amazon Advertising and Microsoft Advertising. AI-powered tools are defined within the advertising platforms of global technology leaders. The opportunities provided by the application of innovative advertising tools to the business are characterized. It was proven that innovative tools on different advertising platforms serve to perform similar tasks, which made it possible to group them according to common functional characteristics. Despite the undeniable positive impact that AI technologies have on the effectiveness of innovative advertising tools, it has been shown that their use is associated with limitations that must be taken into account in marketing activities. Understanding the intricacies of using the tools will allow advertisers to approach the process of working on advertising platforms in a more balanced manner, and will ensure an increase in the effectiveness of the marketing activities of enterprises.

Keywords: artificial intelligence; innovative advertising tools; advertising platform; technology corporation; effectiveness of marketing activities (search for similar items in EconPapers)
JEL-codes: L86 M37 O32 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:bja:isteus:y:2024:i:2:p:116-128

DOI: 10.53920/ES-2024-2-8

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