Essay Sample on AI-Powered Marketing Decisions: A New Era

Introduction

This report discusses how artificial intelligence will support making better marketing decisions. Artificial intelligence is a branch of computer science that is concerned with making computers work like human beings. AI development has great impact on many research areas like security, economy and infrastructure development.The AI research community is solving some of the biggest technological problems related to software and hardware infrastructure and theory. It includes natural language, robotics, games, and a neural network. In the current world, no computer exhibits artificial intelligence, which is the ability to simulate human behavior. Todayintelligence. Today the best area of artificial intelligence is the neural network, which is capable of voice recognition and neural-language processing. The enormous upgrade that has been experienced in this field is games playing, whereby the best computer chess programs can beat human beings. Some robots and machines have been induced with the intelligence to do brain-related functions like knowledge representation, reasoning, and problem-solving.

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Artificial intelligence is a technology that is transforming every step-in life as It enable people to rethink how we integrate information, analyze data, and use the outcome to improve decision making. In the transportation area, for example, vehicles have tools that let drivers know of upcoming congestion and traffic constraints impediments. According to researchers Shubhendu and Vijay stated that Ssoftware systems make decisions that require human-level expertise and helps people deal with issues as they come up.(Shubhendu and Vijay, 2013)Introduction

Like other domains, marketing has also been significantly influenced by the emergence of new technologies, and this effect will cause significant growth in this sector. Intelligent systems have the potentials and strengths to support decisional situations faced by companies, especially those of strategic nature. The use of AI has also improved performance in the marketing field. Artificial intelligence technologies will help marketing managers in various ways like market research, social media controlling, and customization of the consumer experience. Consumers express their needs and want attitudes and values in multiple techniques like tweets, blogs, and conversations. Marketing managers are in charge of making decisions about products, brands, advertising, prices, and promotions based on consumer knowledge. These decisions depend on competitors, resellers, and suppliers, and therefore, marketers are using artificial intelligence to transform this large data flow into valuable consumer insight. According to 'Senior Executive Worldwide,' 79% of executives voted that artificial intelligence helps in the creation of new ideas and making the organization more creative, while 71% declared that AI is a guide for their companies in making better decisions. Companies that have implemented the use of AI technology showed increased inbound user leads and sales since AI has a wide range of applications in different business fields.verticals.Methods

Artificial intelligence has many ways that will support a company in making better marketing decisions. First and foremost, through the use of AI, marketers are able to understand their customers in detail and in a clear mannerthere is a better understanding of company's consumers. AI-driven systems analyze natural language text of millions of customers reviews and image of products in the market to summarize the relationship between customer sentiments and product features. AI can be used to provide shopping services online, which simplifies the shopping process and provides personalized experiences that increase customer loyalty. It also uncovers customer preferences hidden infused data, which helps marketers make smart choices about product design, inventory planning, and product assortment that meet the needs of dynamic consumers.

Artificial intelligence takes sales forecasting to the next levels.AI makes it easy to use practical algorithms to analyze large numbers of data in a brief period. This technology can sift through large volumes of current and past data to identify the most lucrative sales lead. Relationship intelligence and AI together leverage pools of data and identify key purchase influencers that are not always available in traditional organization charts. It equips businesses with improved lead scoring abilities, which enables them in the determination of sales forecast more accurately.

Through the use of AI technology, there has been an emergence of AI-powered content creation chat boards, which gives customers the opportunity to chat online with customer service representatives. They provide borderline magic customer support and in most casesand, in most ,cases, are better at personalized content than humans. They have access to millions of customers' data, which help in spotting repetitive problems and predict the source of the issues. Chat boards are believed to be more knowledgeable than any human customer service representative. Chat boards also give customers advice on the research phase and directions on how to use it.

AI makes it possible for marketers to conduct real time chats with consumers, which helps them identify trends.Thistrends. communicationsThis communication at decision making moments help to affect buying decisions. Real-time conversations are efficient and allow marketers to identify potential issues and counteract them before they become too widespread.

Companies and business entities use artificial intelligence in determination and optimization of price with a whole new level of precision, which takes a wide variety of data into account. Machine learning can be used for things like dynamic pricing, which analyses customers' data patterns and predicts what they are likely to be willing to spend. It allows businesses to target the customers and calculate the exact level of discount needed or not needed to pull a sale. Dynamic pricing is also used to compare businesses' product pricing with that of competitors to determine if their prices are too high, same, or too low.

AI helps businesses in optimizing digital advertising campaigns by tapping into the abundance of consumer data hidden in social profiles and key searches for smarter and capable digitals ads. The introduction of AI has made bidding and target programmatic advertising more efficient. It can also determine what time of the day is best o serve an ad and the likelihood of user engagement with an ad that happens in the middle of an article while reading.

Results

Artificial intelligence marketing has become an essential ingredient that can no longer be ignored. With the knowledge of consumers' needs, marketers will have the ability to meet smarter customer services. Sales forecasting enables marketers to foretell the future growth of business and gain the ability to determine what is leading to slow business growth. Chart boards have helped most business for rapid response for their customers whenever they have inquiries. Real-time conversations give marketers and consumers to talk and air their problems or any suggestions online, which happens in less than three minutes. Price determination helps the marketers in the evaluation of discounts to offer and prices for placing for a specific product. Finally, by the aid of artificial intelligence, businesses have managed to create smart ads that can reach as many people as possible.

Interpretation of Results

Consumer knowledge helps marketers understand the wants, tastes, and preferences of a customer. With this knowledge, marketers can deliver to their customers exactly what they want and help in the identification of markets. Some consumers go ahead and give suggestions on how to improve some products and make them trendier. Consumer knowledge reduces the probability of incurring losses since the business produce what customers are likely to buy.

Sale forecasting through artificial intelligence saves a lot of time, which is utilized in doing other things like research. It helps companies gauge demand for their products and better management of inventory. Businesses are allowed to see into the future and therefore plan moves that will help increase growth.

AI content creation boards have played a significant role in retaining customers by responding fast to their needs, which is way more accessible and efficient. Customer service rep is fast and more knowledgeable than humans, and in case of a challenge, they solve them as fast as possible. When a new customer has inquiries about a product, fast response with details about the product, which brings more sales to the business.

Businesses have assimilated the use of sve come up with smart ads that can reach many people and create awareness about their products or services. With the help of AI, marketers get a clear picture of who their target audience is. The artificial audience has enabled businesses to reach a broader range of customers.

Conclusion

The aim of the essay is to find the impact of artificial marketing in making better market decisions. The significant finding is that artificial intelligence helps most businesses in acquiring more knowledge about their consumers, which gives a lead on what to produce. The major influencing factor in AI integration in marketing area competitive pressure and customers. The main benefits of AI are increasing efficiency, time-saving in marketing functions, making better decisions, and a better understanding of customer information. AI has helped in developing sales and marketing strategies, which drive to substantial improvement in business performance.AI provides opportunities for development of economic sector.Recommendations

With artificial intelligence poised to continue growing across all industries and segments, marketers are advised to experiment and ensure their marketing organization is set for continued success in the future.AI has changed the landscape of marketing and helped in updating outdated marketing methods. Organizations are expected to train their employees regularly with the emergence of technological development. AI is morebeen more efficient, and fast companies and organizations should consider implementing it. For more profits and saving money, Itmoney. It is recommended for the firms to follow the integration of AI in marketing.

Works Cited

Sterne, Jim. Artificial intelligence for marketing: practical applications. John Wiley & Sons, 2017.

Marinchak, Christina L. McDowell, Edward Forrest, and Bogdan Hoanca. "The impact of artificial intelligence and virtual personal assistants on marketing." Encyclopedia of Information Science and Technology, Fourth Edition. IGI global, 2018. 5748-5756.

Stalidis, George, Dimitrios Karapistolis, and Athanasios Vafeiadis. "Marketing decision support using Artificial Intelligence and Knowledge Modeling: application to tourist destination management." Procedia-Social and Behavioral Sciences 175 (2015): 106-113.

Shukla Shubhendu, S., and Jaiswal Vijay. "Applicability of artificial intelligence in different fields of life." International Journal of Scientific Engineering and Research 1.1 (2013): 28-35.