The Role of Artificial Intelligence in Modern Marketing

Abstract

In recent years, artificial intelligence (AI) has progressed from being an emerging technological innovation to becoming one of the central elements of marketing strategies. The present paper aims at discussing the current role of artificial intelligence in marketing through a literature review, which includes peer-reviewed articles, which can be found in databases such as Google Scholar, Scopus, and Web of Science, as well as market data that is relevant to the topic today. With the help of theoretical frameworks, such as the three-stage model of AI application introduced by Huang and Rust (2021) and the multidimensional framework offered by Davenport et al. (2020), this paper will discuss the role of AI in personalization, predictions, conversational marketing, content creation, and programmatic advertising. In addition, the market growth numbers will be discussed alongside a table summarizing the results of the reviewed literature. The ethical, privacy, and human resource problems related to the implementation of AI in marketing will also be identified.