Emerging Managers
Ms. Sohini Mukherjee MBA, Batch 2020-2022 DMS, IIT(ISM) Dhanbad, India
Role Of Artificial Intelligence In Marketing In today’s world, technology is growing by leaps and bounds and its presence can be felt everywhere. One such technological marvel is the emergence of artificial intelligence. AI is being used to power many technologies that we use on a daily basis, like Google Assistant, Google Maps, Siri, Cortana etc. Now, what is Artificial Intelligence? AI is coined using the words, “artificial” and “intelligence” which are used to describe the intuition demonstrated by inanimate objects like machines. AI can be used to carry out tasks which would normally require human intelligence. Marketers have realized that this technology holds a tremendous potential and are readily incorporating it into their plans in various ways. Artificial intelligence has a number of significant benefits. Some of them are: Fast and Dynamic Data Analysis One of the biggest benefits of AI is its incorporation into data analytics. According to Henry Schuck, CEO of DiscoverOrg, “Any part of
the marketing world where a marketer has to read data and make decisions based on that data will be affected by AI in one way or another in the near future.” AI has the potential to gather, store and analyze large amount of data in a fast and efficient manner. Predictive analytics powered by AI helps marketers understand their target customers on a deeper level. This newfound knowledge can be used in sales forecasting, formulation of pricing strategies, trend analysis and much more. Improving Customer Experience When it comes to product inquiries, or grievance redressal, it becomes very tedious for companies to solve the customers’ problem manually. AI helps to make the process smoother and improves customer experience significantly. Nowadays, almost all the companies have chatbots in their websites. These AI enabled applications provide customers with an intuitive 1:1 communication experience that solves their problems and addresses their issues on a real time basis, thus, saving time and money.
KAIZEN’S OPERATIONS & RESEARCH ENTITY
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