Sep02
We'll look at this recent article "Harnessing artificial intelligence to develop strategic marketing goals" from Kikelomo Fadilat Anjorin,Mustafa Ayobami Raji,Hameedat Bukola Olodo,and Oluwaseun Peter Oyeyemi published by International Journal of Management & Entrepreneurship Research May 12, 2024 with a featured CustomGPT called "SciSpace" by scispace.com
Article link here if you'd like to read the full 26-page article:https://www.fepbl.com/index.php/ijmer/article/view/1127/1356&ved=2ahUKEwjl9JahvKWIAxU8DTQIHQEUDaIQFnoECBgQAQ&usg=AOvVaw2oRAypq2_NSRAJ_hChbhP1
The paper presents several important conclusions regarding the integration of AI in marketing strategies. Here are the main takeaways:
Imperative Adoption of AI: Organizations must embrace AI to remain competitive in today's fast-paced business environment. The paper emphasizes that AI is not just an option but a necessity for effective marketing strategies.
Transformative Potential: AI has the potential to transform various aspects of marketing, including customer segmentation, personalized targeting, predictive analytics, and automation. This transformation can lead to more effective marketing campaigns and improved customer engagement.
Alignment with Business Objectives: It is crucial for businesses to align their AI initiatives with broader business goals. The paper highlights that successful AI integration should enhance customer experience, optimize resource allocation, and ultimately drive revenue growth.
Addressing Challenges: The paper discusses the challenges associated with AI integration, such as data privacy concerns and ethical implications. Organizations need to be aware of these issues and develop strategies to address them effectively.
Structured Implementation Approach: A structured approach to implementing AI is recommended. This includes robust data governance, talent acquisition, and continuous monitoring to mitigate risks associated with AI adoption.
Data-Driven Decision Making: The importance of data-driven decision-making is emphasized. Organizations should engage in iterative experimentation and agile adaptation to fully leverage AI's capabilities for innovation and competitive advantage.
Long-Term Sustainable Growth: By strategically harnessing AI, organizations can enhance their marketing effectiveness and cultivate long-term sustainable growth. The paper advocates for a proactive stance towards AI in marketing strategy formulation.
Super interesting to explore these key points as a quick snapshot of the type of research moving forward in Marketing, Business Strategy, AI, Leadership, and more.
By Dan Banas
Keywords: Analytics, AI, Business Strategy