The impact of ai and machine learning on revolutionizing marketing strategies and consumer insights

Abstract

Introduction: Artificial Intelligence and Machine Learning have revolutionized marketing recently by helping businesses understand customer preferences, engage with them effectively, and help them make the best choices according to their taste. AI and ML help companies analyze large amounts of data and create personalized marketing campaigns. In recent times, AI has helped businesses to understand customer preferences and how to engage with them effectively and make the best choices as per their taste. Methodology: The study followed an exploratory research design approach. Primary data was gathered by circulating a structured questionnaire with the help of google forms. The study utilized a simple random sampling method for the selection of sample. The data analysis was done using descriptive and inferential statistical tools. Findings: This study recognizes the importance of a personalized approach to make marketing strategy successful and to generate revenue for business. This study also underlines data breach concerns by consumers and ethical practices. The research also construed that although personalization is valued, there should be transparency and trust for long-term relationships. Limitations & Future Scope: This study was limited to Mumbai region. The study can be expanded to compare personalized marketing approaches used by different industries and the evaluate its business impact.