USE OF ARTIFICIAL INTELLIGENCE IN MARENTING: PERSPECTIVES, ADVANTAGES AND DISADVANTAGES

Authors

  • I.I. Bilyk Lviv Polytechnic National University, Department of Marketing and Logistics Metropolitan Andrew str, 5, Lviv, 79000, Ukraine, 1tel.:+ +38 (032) 258-26-25 https://orcid.org/0000-0002-2513-078X
  • K.R. Lavryk Lviv Polytechnic National University, Department of Marketing and Logistics Metropolitan Andrew str, 5, Lviv, 79000, Ukraine, tel.:+ +38 (032) 258-26-25 https://orcid.org/0009-0005-5625-7598

DOI:

https://doi.org/10.15330/apred.1.19.109-115

Keywords:

artificial intelligence, smart technologies, marketing, personalization of communication,, marketing automatization

Abstract

The article examines the impact of artificial intelligence on marketing development, including the changes it brings and how it enhances the efficiency of marketing processes. The benefits of utilizing artificial intelligence to improve marketing strategies are described, with a notable advantage being the ability of smart technologies to quickly analyze large volumes of data and provide accurate results. The latest research and publications on this topic are analyzed to provide readers with a clearer understanding of the prospects of marketing development with the use of artificial intelligence. Consequently, it was discovered that artificial intelligence can significantly facilitate and enhance the work of marketers in areas such as marketing process automation, personalized communication with clients, optimization of advertising campaigns, demand forecasting, detailed analysis of target audience preferences and past experiences, budget allocation across different channels, and content creation, among others. Special attention is given to personalized marketing, which is crucial in today's demanding consumer landscape. Artificial intelligence is becoming extremely important for achieving success and allows companies to apply a personalized approach to customers and interact with them based on analysis of their behavior. Additionally, the article discusses potential challenges and risks associated with using artificial intelligence in marketing. The possibility of errors in the work of algorithms of smart technologies and insufficiently ethical aspects of the use of data, which are related to the confidentiality and privacy of consumers, are pointed out. It is important to understand these challenges and develop appropriate strategies to address them and minimize the negative impact. In general, the use of smart technologies allows marketers to focus on strategic tasks and achieve better results with less effort and cost. And the implementation of artificial intelligence in marketing strategies is an indispensable condition for enterprises seeking to maintain their competitiveness.

 

Author Biographies

I.I. Bilyk , Lviv Polytechnic National University, Department of Marketing and Logistics Metropolitan Andrew str, 5, Lviv, 79000, Ukraine, 1tel.:+ +38 (032) 258-26-25

PhD (Econ.), Associate Professor 

K.R. Lavryk , Lviv Polytechnic National University, Department of Marketing and Logistics Metropolitan Andrew str, 5, Lviv, 79000, Ukraine, tel.:+ +38 (032) 258-26-25

Student

References

1. McKinsey. “The state of AI in 2022—and a half decade in review.” www.mckinsey.com/capabilities/quantumblack/our-insights/the-state-of-ai-in-2022-and-a-half-decade-in-review Accessed 6 Dec.2022.
2. Mohammad Khaled, Linkedin. “The era of Artificial Intelligence and readiness for protections.” www.linkedin.com/pulse/era-artificial-intelligence-readiness-protections-khaled-phd?trk=public_profile_article_view Accessed 21 Dec.2022.
3. MobiDev. “Artificial Intelligence in Marketing: Boost the Growth in 2023.” mobidev.biz/blog/artificial-intelligence-ai-marketing-use-cases Accessed 16 Dec.2022.
4. RetailCustomerExperience. “Consumers expect personalization, reveals report.” www.retailcustomerexperience.com/news/consumers-expect-personalization-reveals-report/ Accessed 8 Mar.2023.
5. MarketingAIInstitute. “AI-Based Marketing Personalization: How Machines Analyze Your Audience.” www.marketingaiinstitute.com/blog/ai-based-marketing-personalization Accessed 30 Mar.2023.
6. CDP. “Report: Consumers Open To AI In Marketing, But Privacy Concerns Remain.” cdp.com/articles/report-consumers-open-to-ai-in-marketing-but-privacy-concerns-remain/ Accessed 3 Mar.2023.
7. Cases.media. “Artificial Intelligence in Marketing: Benefits and Risks of Using Generative Models to Create Content and Improve Customer Interaction.” cases.media/article/shtuchnii-intelekt-u-marketingu-perevagi-ta-riziki-vikoristannya-generativnikh-modelei-dlya-stvorennya-kontentu-ta-polipshennya-vzayemodiyi-z-kliyentami Accessed 21 Mar.2023.
.8. Link.Springer. “AI bias: exploring discriminatory algorithmic decision-making models and the application of possible machine-centric solutions adapted from the pharmaceutical industry.” link.springer.com/article/10.1007/s43681-022-00138-8 Accessed 10 Feb. 2023

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Published

2023-06-06

How to Cite

Bilyk , I., & Lavryk , K. (2023). USE OF ARTIFICIAL INTELLIGENCE IN MARENTING: PERSPECTIVES, ADVANTAGES AND DISADVANTAGES. The Actual Problems of Regional Economy Development, 1(19), 109–115. https://doi.org/10.15330/apred.1.19.109-115

Issue

Vol. 1 No. 19 (2023): THE ACTUAL PROBLEMS OF REGIONAL ECONOMY DEVELOPMENT

Section

Marketing and logistics

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