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- Creators: Department of Marketing
Description
Artificial intelligence (AI) is a burgeoning technology, industry, and field of study. While interest levels regarding its applications in marketing have not yet translated into widespread adoption, AI holds tremendous potential for vastly altering how marketing is done. As such, AI in marketing is a crucial topic to research. By analyzing its current applications, its potential use cases in the near future, how to implement it and its areas for improvement, we can achieve a high-level understanding of AI's long-term implications in marketing. AI offers an improvement to current marketing tactics, as well as entirely new ways of creating and distributing value to customers. For example, programmatic advertising and social media marketing can allow for a more comprehensive view of customer behavior, predictive analytics, and deeper insights through integration with AI. New marketing tools like biometrics, voice, and conversational user interfaces offer novel ways to add value for brands and consumers alike. These innovations all carry similar characteristics of hyper-personalization, efficient spending, scalable experiences, and deep insights. There are important issues that need to be addressed before AI is extensively implemented, including the potential for it to be used maliciously, its effects on job displacement, and the technology itself. The recent progression of AI in marketing is indicative that it will be adopted by a majority of companies soon. The long-term implications of vast implementation are crucial to consider, as an AI-powered industry entails fundamental changes to the skill-sets required to thrive, the way marketers and brands work, and consumer expectations.
ContributorsCannella, James (Author) / Ostrom, Amy (Thesis director) / Giles, Charles (Committee member) / Department of Marketing (Contributor) / Department of Management and Entrepreneurship (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
In our society, technology has found itself as the root cause of a certain level of modernization. It wasn’t long ago when people heavily depended on bank tellers to complete cash transactions at a bank. Now however, much of the bank teller’s job has been automated in the form of ATM’s and electronic kiosks at drive through lanes. Automation is the current trend, and more departments are going to experience it. To those wondering which area or department may be hit next by a wave of technological automation, the answer is quite simple: CRM.
In its raw form, CRM, which stands for Customer Relationship Management, is a “system for managing your relationships with customers” (Hubspot). Essentially, it is a software intended to help companies maintain strong relationships with their customers, customers being a critical part of the process. A good CRM system should benefit both the business and the customer. However, this is easier said than done, making the million dollar question the following: how can CRM systems be improved to truly benefit both the business and the customer? This paper will demonstrate that the answer is quite simple: automation. Through secondary research, as well as interviews conducted with various business professionals, I will demonstrate that automation and integration can make the process much more efficient and can erase a lot of errors in the process. Automation is the future of business, and this fact is not any less true in the CRM field.
ContributorsWarrier, Akshay (Author) / Riker, Elise (Thesis director) / Lee, Sanghak (Committee member) / Barrett, The Honors College (Contributor) / Department of Supply Chain Management (Contributor) / Department of Finance (Contributor) / Department of Marketing (Contributor)
Created2023-05
ContributorsWarrier, Akshay (Author) / Riker, Elise (Thesis director) / Lee, Sanghak (Committee member) / Barrett, The Honors College (Contributor) / Department of Supply Chain Management (Contributor) / Department of Finance (Contributor) / Department of Marketing (Contributor)
Created2023-05
ContributorsWarrier, Akshay (Author) / Riker, Elise (Thesis director) / Lee, Sanghak (Committee member) / Barrett, The Honors College (Contributor) / Department of Supply Chain Management (Contributor) / Department of Finance (Contributor) / Department of Marketing (Contributor)
Created2023-05