Introduction
Artificial Intelligence (AI) will become an integral part of every commercial entity across the globe in the long term. The new trends in AI-driven automation reflect substantial changes in the AI landscape. It is evident in the form of reconfigured ideas, interests, and investments in the field of AI adoption by the enterprise [[1], [2], [3]]. This technology is sophisticated enough to recognise faces and objects, which has enormous implications for various business applications. For security purposes, facial recognition can distinguish individuals; On the other hand, object detection can be used to distinguish and analyse images. AI treats human images like cookies, allowing for more personalised services based on customers’ preferences. Some businesses are experimenting with facial recognition to diagnose their customers’ moods and, as a result, make appropriate product recommendations [4,5].
AI is primarily concerned with user retention and lead conversion in digital marketing. It can guide a user in the direction that aligns with the business’s goals by using intuitive AI chatbots, intelligent email marketing, interactive web design, and other digital marketing services. Several factors determine the impact of AI on digital marketing. ML, a subset of AI, is concerned with computer programmes that access data and use it to learn independently. It compiles data from various places, including social media accounts, menus, online reviews, and websites. AI then uses the information to produce and deliver content relevant to the audience. AI software enables in-depth online analysis of restaurants and their customers [[6], [7], [8]]. By implementing AI into marketing strategy, businesses can use the available data better and reach out to potential customers with attractive commercials at more convenient times.
Digital marketing gives a visibly pleasant experience for clients with AI for advertising across social media and digital platforms such as Facebook and Instagram. These platforms thoroughly assess users’ information before directing them to offers appropriate to their wants. AI also assists marketers in identifying and forecasting trends [9,10]. It prevents the company from overspending on digital advertising and ensures that the money is well spent. The ability of a computer to recognise objects, scenes, and activities in images is referred to as computer vision. Medical imaging analysis, face recognition, public security, and security monitoring are a few uses. If computer vision and AI are properly coupled, robots can predict what will happen in the future and act accordingly based on potential changes [[11], [12], [13]].
AI has simplified building client profiles and comprehending the customer journey process. It allows brands to quickly and easily provide valuable personalised content for the various client profiles in any marketing funnel stage and throughout each avenue. Based on historical data, AI applications in digital marketing can determine what content is most likely to bring customers back to the site. AI identifies which customers are most likely to unsubscribe from a specific service and analyses which features are standard among unsubscribers. As a result of these analytics, marketers can plan their future campaigns and implement practices encouraging people to stay [[14], [15], [16]].
AI applications in digital marketing can sift through billions of data points on the internet and tell precisely what it needs to know for business. It will describe what price will get the most conversions, when is the best time to post, what subject line will get the most attention, etc. Intelligent marketers stay current with all trends. It simplifies jobs and allows for more creativity and out-of-the-box thinking. It also adds value to the customers who benefit [17,18]. This paper examined AI and its need in the marketing sector. We briefly cover the various applications of AI in several marketing segments. The paper also looks at other AI-based transformations for the marketing industries. Finally, the study identifies and discusses important uses of AI in marketing.
1.1. Artificial intelligence
AI is a computer science technology that teaches computers to comprehend and emulate human communication and behaviour. Based on the data provided, AI has created a new intelligent machine that thinks, responds, and performs jobs the same way people do. AI can do highly technical and specialised activities such as robotics, speech and picture recognition, natural language processing, problem-solving, etc. AI is a collection of several technologies capable of executing tasks that need human intelligence. When applied to standard commercial processes, these technologies can learn, act, and perform with human-like intelligence. It simulates human intelligence in machines, saving us time and money in business transactions [[19], [20], [21], [22]].
AI is concerned with creating intelligent machines that can think and act like humans. It provides exceptional opportunities for a wide range of industries. Every industry mentioned is either terrified or enthralled by the arrival of AI. AI creates intelligent machines and devices that can think and react like humans. This technology has been dubbed the “next step” in the industrial revolution. It is believed that AI and ML hold solutions to most of today’s problems.
Furthermore, AI may aid in the prediction of future problems. AI can create new technologies, industries, and environments. In a nutshell, AI simulates human intelligence processes by machines. This may include learning, reasoning, and, most importantly, the ability to self-correct [[23], [24], [25]].
AI can analyse, comprehend, and make decisions. It is for existing user data and is used to make market predictions and predict user behaviour. It is also known as data forecast, and organisations worldwide use it to fine-tune their sales and marketing strategies to increase sales. Most AI applications in marketing nowadays employ ML, from personalising product suggestions to assisting in discovering the most successful promotion channels, estimating churn rate or customer lifetime value, and building superior customer groups [26,27].
1.2. Need for artificial intelligence in marketing
AI is a fascinating and cutting-edge technology that complements a company’s current content strategy. This technology is a broad term that encompasses a wide range of technologies such as natural language processing, ML, deep learning, computer vision, and many others. ML significantly impacts the digital marketing scenario because of its ability to analyse data and provide analytical tools. As a result, it assists marketing teams in conducting needs-based analyses. Businesses that use AI tools save time by focusing on other aspects of digital marketing. AI is a vast and ongoing technological evolution with far-reaching consequences. As a result, it is advised to embrace AI in digital marketing to foster innovation and improve productivity in the coming years [[28], [29], [30]].
Marketers can use AI to gain deeper consumer insights and better understand how to categorise and drive customers to the next step in their journey, providing the best possible experience. Marketers can increase ROI without spending on ineffective attempts by thoroughly examining consumer data and knowing what they truly want. They can also avoid wasting time on mind-numbing advertising that irritates clients [31,32]. AI will personalise marketing in several ways. Many firms are already using AI to personalise their websites, emails, social media posts, videos, and other materials to better respond to customer demands. One of the primary goals of AI is to automate jobs that formerly needed human intellect. This decrease in the number of labour resources required by an organisation to execute a project, or the amount of time an individual must dedicate to routine chores, allows for significant efficiency benefits [33,34].
1.3. Research objectives
Brands are using the power of AI to personalise marketing emails based on consumer preferences and behaviour to increase engagement and persuade them to convert or make a buy. The AI automated the segmentation process and began providing personalised material through email, SMS messaging, and in-app notifications based on each recipient’s lifecycle stage. Applying AI to existing cyber-attack techniques like spear-phishing will improve their effectiveness and, by overcoming labour restrictions, increase the number of players capable of carrying them out. While AI is frequently portrayed as a danger to privacy, it can also assist in preserving privacy and the ownership of private data and its derivative assets. Policymakers will have to carefully consider how to control emerging technology, striking a balance between the need to keep powerful weapons out of the hands of bad actors while also ensuring that innovation is not suffocated [[35], [36], [37]]. The primary research objectives of this paper are as under:
RO1: To brief about AI and its need in marketing;
RO2: to study the specific utilities of AI in various marketing segments;
RO3: to explore various AI-based transformations for marketing sectors;
RO4: to identify and discuss significant AI applications for marketing.
1.4. The method used to write this paper
Reading several related articles, blogs, and books on Artificial intelligence for marketing was done as part of this literature-based evaluation. The authors then critically analysed these publications in relation to the research issue. This literature review offers a comprehensive status on researching the particular issue. This paper contains conceptual categories related to AI for marketing and typically follows a structure. Thus, to write this paper, almost 217 research publications were examined. This study answers the research questions and provides a detailed discussion on AI for marketing.
2. Specific utilities of artificial intelligence in various marketing segments
The various primary marketing segments of AI initiatives are depicted in Fig. 1. Pricing, strategy and planning, product, promotion, and place management have been vital in targeting AI-based systems in marketing scenarios. The importance and significance of other issues such as targeting and positioning, situations, and thinking models towards the product design and end-customer needs have been targeted as essential aspects of marketing for AI applications [[38], [39], [40]].