THE IMPACT OF ARTIFICIAL INTELLIGENCE ON COMPANY PROMOTION STRATEGIES

Keywords: artificial intelligence, marketing, personalization, automation, forecasting, ethics, companies

Abstract

This article explores the transformative role of artificial intelligence (AI) in modern marketing, emphasizing its profound influence on how businesses design and implement promotional strategies. AI provides tools that empower companies to deliver more personalized and targeted experiences by analyzing large volumes of customer data and generating actionable insights. Through the application of machine learning algorithms, businesses can identify emerging trends, anticipate shifts in consumer preferences, and refine their strategies to remain competitive in dynamic markets. These capabilities allow organizations to enhance efficiency, reduce costs, and improve decision-making processes across various aspects of their operations. A significant advantage of AI lies in its ability to automate repetitive tasks, enabling marketing teams to allocate more time to creative and strategic functions. AI-powered systems, such as chatbots and virtual assistants, enhance customer engagement by providing immediate, accurate, and tailored responses to inquiries, fostering satisfaction and loyalty. Predictive analytics, another crucial application of AI, enables businesses to forecast consumer behavior and optimize campaigns in real time, ensuring a greater return on investment. By analyzing patterns in customer interactions, AI facilitates the creation of dynamic strategies that adapt to changing market conditions. However, the adoption of AI presents challenges, particularly in the areas of data privacy, algorithmic transparency, and ethical considerations. Ensuring the confidentiality and security of customer data has become increasingly critical, as any misuse or unauthorized access to sensitive information can result in reputational damage and regulatory penalties. Additionally, the opaque nature of certain AI models raises concerns about potential biases and fairness in decision-making processes. Companies must implement rigorous oversight mechanisms to ensure that AI applications align with ethical standards and do not perpetuate discrimination or inequality. In conclusion, AI has become an indispensable element of contemporary marketing strategies, driving innovation and enabling businesses to achieve greater operational efficiency and customer satisfaction. By leveraging AI responsibly and addressing associated challenges, companies can unlock its full potential to transform how they connect with customers, optimize resources, and achieve sustained growth in an increasingly competitive environment.

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Published
2024-11-25
How to Cite
Kalinichenko, A. (2024). THE IMPACT OF ARTIFICIAL INTELLIGENCE ON COMPANY PROMOTION STRATEGIES. Economy and Society, (69). Retrieved from https://economyandsociety.in.ua/index.php/journal/article/view/5164
Section
MARKETING