ARTIFICIAL INTELLIGENCE AND MARKETING

Savica Dimitrieska, Aleksandra Stankovska and Tanja Efremova
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Savica Dimitrieska: European University - Republic of Macedonia, Skopje
Aleksandra Stankovska: European University - Republic of Macedonia, Skopje
Tanja Efremova: National Bank of the Republic of Macedonia

Entrepreneurship, 2018, vol. 6, issue 2, 298-304

Abstract: The application of Artificial intelligence (AI) in marketing is in order to continuously follow and predict the next purchasing decisions of the target consumers and to improve their consumer "journey". The power of AI is reflected in its core elements: big data, machine learning and powerful solutions. The concept of "big data" means that marketers have ability to aggregate and segment huge amounts of data with minimal manual work. By using this data, they will be sure that they would deliver the right message to the right people at the right time, via the channel of choice. Machine learning (deep learning) allows marketers to understand and draw logical conclusions from large data collections. They can predict consumption trends, track and analyze consumer purchases, predict the next consumer behavior. Making powerful solutions means that we are living in an era when machines truly understand the world in the same way as humans. Machines can easily identify concepts and themes across a range of data, interpret emotions and human communications, and generate adequate responses to consumers. They can easily predict the behavior and decisions of buyers and use that data to solve issues in future. In the following years, marketers can expect greater AI impact, through more intelligent searches, smarter ads, refined content delivery, relying on bots, continued learning, preventing fraud and data breaches, sentiment analysis, image and voice recognition, sales forecast, language recognition, predictive customer service, customer segmentation, etc. This paper attempts to discover the future relationship between marketers and artificial intelligence machines.

Keywords: Artificial intelligence; marketers; marketing; machine learning; big data; powerful solutions; bots (search for similar items in EconPapers)
JEL-codes: M31 (search for similar items in EconPapers)
Date: 2018
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