Minor Project

On
“Role of AI in reinventing marketing”
Submitted to
Amity University Uttar Pradesh

In partial fulfillment of the requirements for the award of the degree

of
Bachelor of Business Administration
in
International Business

by

SHASHWAT SHUKLA

A1833318033
Under the guidance of

Dr. Harendra Kumar , Professor

AMITY INTERNATIONAL BUSINESS SCHOOL

AMITY UNIVERSITY UTTAR PRADESH

 ABSTRACT

There are a lot of emerging trends in the field of marketing like use of videos
in marketing, AI in marketing, Impact of data science, Hyper personalization, Social
media evolution etc. People are giving too much time to their mobile phones and to
their social media sites and spending more time online that is why it becomes
important for a marketer to penetrate their target audience or potential customers by
doing social media marketing. A lot of marketers make videos online of their work
or services they provide that may satisfy customer’s need or want.

Impact of videos in marketing plan of marketers are stronger consumer

attention, higher engagement, better video technology better optimization
opportunities, sharing about trending products online. This paper explains the
details regarding how AI improves to modern promoting methods and shows what
are the constraints of this methodology.

Some uses of AI in marketing are taking sales forecasting to the next level,
understanding the needs of customers in a better way, creating detailed profiles of
existing and potential customers, sentiment analysis and trending products through
rate of purchasing a product online or from a mortar store. AI is ability of systems to
work, respond, think like people, resolve troubles and manage every single situation
like people do. The objective of AI is to mimic human brain, actions and scientists
are also striving to build up systems that can use logics, analysis and also even be
innovative like people in the world.
 INTRODUCTION
Artificial Intelligence is the simulation of human's behavior, mind and
feelings. Artificial intelligence is known for its human like critical reasoning and
functioning like them. Now a day’s machines and robots are used in every big
company because everyone wants to be ahead of its competitor. Technology is
evolving every day. Today facial recognition and fingerprint which are part of the
AI is now considered as inherent computer function. Everyone who is doing
specialization in any field is also learning basics of Al and machine learning because
it is used everywhere weather it is in hospitals, malls, schools, companies and
various other institutes which are trying to become automated. Some of the hotels
are also using robots as waiters for food delivering.

AI has some pros and cons like AI is responsible for company’s profits
and it is also responsible for unemployment for example Amazon is delivering
products through drones so jobs of delivery boys are lost similarly in man y
countries driverless cars have started so jobs of drivers are lost. An individual should
be well-known of this skill and should be aware of how to utilize it. For instance,
nurse nowadays can use AI to tell about the person’s illness by going through detailed
analysis of the patients who have suffered with same disease or had same symptoms
and proving medicine to the patient according to that. Artificial Intelligence is used
chatbots, self-driving cars, AI eye doctor, AI dream machine, AI music composer.

Google maps also use machine learning when sometimes it shows you
different path because of traffic on other roads. You will see that if there is more
traffic or congestion on some road Google will not suggest you that path as it knows
that it will consume a lot of time, so it will show you a path that is clear. Google and
amazon have launched their google assistants and Alexa which is best example of AI
to which you can ask any question like current affairs, playing some music and it
behaves like your friend. This proves that AI is everywhere in your home also. AI is
basically any machine or robot that mimics human intelligence or a human brain
which can also execute tasks. The perfect function of AI is rationalization, reasoning,
learning and perception.

While speaking a crowd at the I an AI Experience in it 1 7, Data Robot CEO Jeremy

Achin started his lecture by presenting the following explanation of how AI is
utilized these days: "AI is a computer organization capable of executing tasks that
generally need person brainpower... Several AI techniques are run by machine
learning, a little of them are run by deep learning and hardly any of them are run by
very boring ideas like rules."
 LITERATURE REVIEW

AI will play an important role in, marketing in the future. At present scenario of world, AI — based
systems are widely used. Contemporary promotion is increasingly quantitative, targeted, and tied to business
outcomes. Marketers are penetrating consumers individually by sending those personalized advertisements.
Corporation employs various channels to get to customers, but all of them are using social media for their
marketing. Company marketers still work with agencies, many of which have developed analytical capabilities of
their own. - Thomas H. Davenport (Artificial Intelligence for Marketing by Jim Sterne, Page 18)

With regards to meeting the executives AI has critical job in showcasing rehearses. The advertising
arrangements exploit every one of the five AI territories: picture acknowledgment, content acknowledgment,
dynamic, voice acknowledgment, self-sufficient machines and automobiles. While the first three are employed
very widely in promoting, instances real-time usage of voice recognition are scarce and built by leading tech firms
such as Google, Amazon, Apple, or Microsoft on a huge extent. - - Article  in  Central European Business Review by
Krystyna Jarek and Grzegorz Mazurek.

AI has diverted the methods in which advertisers understand and guide customers. Advertisers are now capable of
coveting data abnut customers from various sources with the help of Machine learning and merge those
information and mine them to deliver on the site customer visions. Article in Journal of advertising research by Jan
Kietzmann and Jeannette Paschen
 ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING

Some people frequently state imagine that machine learning and artificial
intelligence is one of something very similar and are utilized conversely. Machine
learning is a subset of Artificial Intelligence which empowers the machine to play out
any undertaking or elute any activity based on past practices put away in the machine
as information like people do things dependent on their past practices or progress what
they do will get from their practices. Somebody has properly said faults in the past is
your best tutor, so like people machine can likewise do things dependent on the
information put away in it and nosy coding it for specific function or activity. These
days numerous MNC's are utilizing machine learning gix’e their clients a magnificent
experience for instance on the off chance that 1 purchase anything from flipkart. In the
present day it will give thousand different alternatives to look over or rundown of
different items which 1 can like or they will propose correlative items. A great deal of
web-series t run like Netflix and amazon prime do information mining and dependent
on that data they give you films which you might want to watch by understanding
your thoughts.
 Machine Learning vs. Deep Learning

Deep learning is far better in many context when compared to machine

learning while in machine learning people have to fix program or modify something if
machine does not react how it is excited to be but with deep learning machine will do
everything automatically. Illustration of deep learning is auto-pilot vehicles where
machine formerly understands how to handle the situations without assistance from
users.

Let’s know by an illustration, assume there are street-lights which are automated with
a design of pattern like if somebody says “night” they have to turn ON now device
learning model will recognize the word “night” from phrases said by someone and put
it on but if anyone say that “it is so dark” or “it’s time for street lights to be ON” they
will not work since they haven’t studied night till at the present but in case of a deep
learning design even if anyone doesn’t say night it would be able to trace out from its
self-learning methods.

OBJECTIVE
The goal of this paper is to determine what benefits points of interest do Artificial
Intelligences adds to contemporary promoting rehearses and what are its limitations.
This shows how it will change people in the up and coming future and how it will
make joblessness.
To see how a machine can think and respond like people.
Utilizations of AI like gaming, normal language handling, discourse acknowledgment,
vision frameworks and so forth.
To realize difference in marketing methods after developing artificial intelligence.

RESEARCH METHODOLOGY

This paper is totally founded on examines that are done beforehand and some
fresh realities about AI (Artificial Intelligence). Data on this paper is gathered from
journals, research papers and sites.
 HISTORY OF ARTIFICIAL INTELLIGENCE (AI)

The term Artificial Intelligence was originated by John Mc Carthy in 1956 in

the academic conference, which is also known as Darmouth conference , in Hanover,
New Hampshire. The conference a “two month ten man study of AI on the basis of
the hypothesis that every aspect of learning or any other feature of intelligence can in
principle be so precisely described that a machine can be made to stimulate it”.
McCarthy beside with Alan Turing, Allen Newell, Herbert A. Simon, and Marvin
Minsky are recognized as the establishment forefathers of AI. In 1974 computers
started evolving and they became better than before they could store more
information, they had more features than before, they were able to self-identify and
accomplished natural language processing.

Alan Turing as a researcher played a tremendous job by designing a test known

as Turing test which is otherwise called imitation game. Right now, judge poses
certain inquiries to a machine and a person and take their reactions and then needs to
recognize which one is a human and which one is a machine. On the off chance that he
neglects to do that this implies machine has cracked the assessment. There is a lobener
prize these days where machines or chatbots are decided by people. Thomas Hobbes
previously communicated the feeling that reasoning is the control of images. Galileo
had said that "all the truth is scientific in sense that everything is comprised of
particles, and our detecting of smell or taste was the means by which we came to those
particles". Hobbes stretched out this idea to state that idea excessively was comprised
of (communicated in) particles which the mastermind controlled. Anyway, he had no
response to the subject of in what capacity can an image mean anything, because he
had abandoned the possibility of contemplations being in the picture of the truth. That
is an inquiry we can at present say is uncertain. Thomas Hobbes is otherwise called the
granddad of man-made reasoning. In the competition of chess IBM's AI chess PC
'Dark Blue' massacres occupant chess finest in the world Garry Kasparov this was
considered as a memorable achievement
ARTIFICIAL INTELLIGENCE ROLE IN MARKETING PRACTICES

There are many areas of marketing where AI is playing a huge role and is
supporting marketers to understand consumer taste and predict customer’s behavior
for example voice processing technologies like using virtual assistants Google home
and Cortana , text processing technologies , image recognition , Decision making for
example Netflix and amazon recommend you newwebseries to watch and new
products for you to buy based on your previous purchases and previous choices.
Autonomous robots and vehicles are also trending nowadays for example service free
shops.

AI (artificial intelligence) is assuming tremendous job in contemporary

showcasing rehearses on the grounds that web and other related innovations have
changed the best approach to associate with individuals. It isn't the means by which it
is utilized to be , a purchaser will go to your shop and you will intrigue him with your
relationship building abilities' it has changed now , in this day and age anybody can
sell their item from any piece of the world to anybody. With improvement in advances
new promoting procedures are being utilized by different organizations like substance
showcasing , versatile advertising , incorporated computerized showcasing , ceaseless
advertising , customized promoting , visual showcasing. In this manner organizations
ought to receive AI and AI by building up their representatives with these abilities as
they are fundamental for the future and it comprehend the clients superior to people.

There are four P’s of marketing Product, price, place , and promotion. Impact
of AI on product is new product development by following shift in consumer’s taste
and preference for example many people are shifting toward healthy lifestyle and
Gyms so companies have started manufacturing more gym related products like
clothing , shakers smart sport watches for counting calories. Something else which
utilizes AI is item evaluating , which implies with the assistance of AI we remove the
data from the past information to see how mush clients are happy to pay for a specific
item or what is the value of an organization's item before client's eye. They can
likewise watch on the off chance that they are charging more or low for a specific
item. Next is promotion in which marketers are penetrating potential customers by
doing personalized advertising this provides positive impact on customer’s mind and
make him thinks that he is very special for a company and then comes the place or
sales and distribution where shopping is convenient and there is 24/7 customer support
service with the help of chatbots where you can chat with a robot and he can easily
resolve your concerned issue. Subsequently organizations ought to embrace AI and AI
by building up their workers with these aptitudes as they are basic for the future and it
comprehend the client’s superior to people. They can produce various kinds of
commercials for various individuals who are of various ages, culture, district which is
likewise called customized publicizing. About 80% of business will convey to clients
through chatbots by 2020.
 HOW MARKETING PRACTICES ARE RESHAPED BY AI

"In the time of large information, we want to mine everything of that data, and
people can no longer to do it alone," says Mark Simpson. People can cooperate with
clients and attempt to tackle their issues related with items, delivery and terrible
experiences. But AI can improve productivity and at bigger scope. It encourages
advertiser to make a different promoting methodologies and customized commercials
for a specific clients instead of giving one idea to everybody.

Each customer has distinctive perception concerning items and he can be

attracted in to the bundling in a diverse way, so Artificial-Intelligence causes
advertiser to distinguish different preferences of each client and researches on inquires
about from social medias and sites on which clients for the most part invest their
energy they can infiltrate them with commercials that premiums them and cause them
to feel that this item is made for them.

Chatbots is One of incredible revolutions done by AI in field of advertising.

First you needed to do a great deal of things at whatever point we face issues identified
with item like late deliveries, imperfection in the item, unexpected item in comparison
to what we requested we used to do a more of things c like calling client care multiple
times almost around 200 times and messaging them issues happening however these
days on account of chatbots we can converse with an organization's delegate with the
assistance of the alternative of visiting , it takes care of your issues in a flash and is
customized and odds of contention will be lesser on the grounds that it is liberated
from feelings.

Now a day’s online clients are expanding gradually and nobody needs to move
for shopping, to purchase something. There is an extreme rivalry among the online
sites thus it gets important to fragment the market as per age, sexual orientation,
inclinations and making a pertinent message for them , with the assistance of AI we
would re be able to get the clients by examining their issues and identifying them by
their fewer buys from a specific site by helping and suggesting them with the
assistance of AI.
 (Artificial Intelligence) AI ROLE IN THE ADVERTISING

When we talk about showcasing, practices great things come to our mind
which are way to associate from people, one of way is promoting. By an
approximation 85% of organizations will utilize Artificial Intelligence by 2020. You
more likely than not seen at whatever point you observe any video on YOUTUBE
identified with audit of certain items you will see that when you visit some other site
notice identified with that product will continue in-filtering you as pop ups, this is
results of AI. Most associations are currently aware of and using live chatbots, or AI
structures where we can communicate our issues and talk with an individual or system
that is on the opposite side, we will never come to understand whether that is a
machine or a person and that is the thing what we call as AI. This makes our site
exceptional, gainful and remains isolated from others.

Artificial Intelligence guarantees that significant and correct message is being

conveyed to the individuals who are interested and not to focus all in all market with
one offer. It can help shoppers with their issues and that is the reason numerous
organizations are in these days replacing their client service from call helpline number
to applications of the organization where you can talk with the representative of the
organization. They could follow their customers with their purchase patterns and make
customized commercials as indicated by that. AI empowers advertisers to associate
with their objective client in a effective manner. Peoples and organizations who are
receiving this innovation are the person who will get a competitive advantage since
this is the following achievement or next achievement of industrial revolution. It
encourages advertisers to make one on one correspondence with clients and
comprehend their center needs and needs for instance a lady purchasing a lipstick
purchases in excess of lip shading. Advertisers can follow their client's area and
dependent on that they can prescribe individuals various items with the assistance of
infiltrating notices of advertisements in social media.
 One more element of AI is forecast, notwithstanding to make organizations
progressively equipped, prescient intelligence assists with understanding an individual
client and gets ready customized substance to fulfill their interests and necessities.
With the assistance of AI advertisers can completely comprehend the lead of clients
and continue a customized association that was hard beforehand. Like analytical client
care, client got messages can be assessed dependent on earlier preservations and
practices. To customize ads and make messages for focused advertising we need
information of thousands or a great many individuals. At that point we need to assess
the data and utilize it for making customized commercials. People can't do this quite a
bit of manual work in view of absence of resources and mental capacity and that is the
reason for the requirement of AI systems.

ARTIFICIAL INTELLIGENCE LIMITATIONS IN MARKETING PRACTICES

One of the significant limits of implementing AI in India is absence of training

and talents that is very essential for firms. That is the reason there is a massive
requirement of capable employees with skill to control Artificial Intelligence.

 Cost is the second drawback of AI, because of immense populace of India

works is cheaper than to introduce a system. That is motivation behind why
organization would prefer not to move to machines and mechanize entire
procedure as it is a costly affair.
 Maintenance is the third limitation of Artificial Intelligence, when we talk
about systems, we have to consider there maintenance so it doesn’t stop all of
sudden which can cause massive accidents and also they require to maintain
them with manual labours and which can also needed to observe them.
 Whenever you call to a client service, you probably saw in wake of dialling
1991. They ask a lot of activities like press 1, 2, 3 and after that also you have
to converse with a robot, a few people find this disappointing is the reason we
have to utilize chatting robots cautiously and is should be adopted by people.
 Machines can’t be as innovative as people; they can suggest colours and can
provide choices based on statistics gathered. For instant in advertising when we
need to make offers for drawing client’s interest. machine can’t say which
point should be underlined and how it should be introduced.

 It will make a great deal of joblessness in a lot of areas. As I have referenced

before Amazon.com has just begun conveying its items through automaton
which will supplant the occupations of conveyance young men. A wide range
of reiteration employments will be replaced by machines that don’t require a
great deal of abilities. Albeit new openings will be made for instance
regulating the machines or overhauling them to carry out a responsibility.


 CONCLUSION

In this conclusion, we can say that here a more benefit to execute or else
adopting the AI. However, there are disadvantages too, for instance AI will create
work or human lifestyle simpler, yet this can cause an incredible effect on human
lifestyle who are unskillful and illiterate. Then causing to that enormous people being
without a job. It can decrease the blunders made by people however it is likewise
expensive to introduce to an such innovative machines. Machines don’t need breaks or
relax like people, and no robot will demand the manager to give them holiday for
some ambiguous occurrence or for the reason that he is ill, which will enhance job
productivity but this is in addition a truth that robots cannot substitute people 100%.
Advertisers have changed the way of understanding and guiding consumers and
delight consumers . machine learning enables advertisers to collect customers data
from various sources for example when a consumer purchase something from the shop
details of his purchase are stored in the system , this helps marketer to follow the trend
and understand the shift of consumers taste and preference. This helps advertisers to
penetrate potential consumers and hose who are interested and want their product.

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