KF7028 Research and Project Management
Section1: Background and Project rationale
Background
Artificial Intelligence in the process of Global marketing has now become beloved of all because it is a method in which the gap filling is performed and the next move of the customer. Not only that but also the Science of Artificial Intelligence has started to satisfy the experience or feeling about the particular product of the particular brand. In recent days artificial intelligence has grabbed all the sectors to do with its innovation. According to many researches it is evident that there is worldwide impact on the marketers by Artificial Intelligence (AI).
Figure 1: Worldwide use of Artificial intelligence
(Source: Guttmann, 2021)
Based on the above figure it can be said that 41% of the total worldwide responses agree that AI helps in enhancing the performance of marketing campaigns (Guttmann, 2021). On the other hand, almost 38% respondents agree with the fact that AI also creates an opportunity to customize customer experiences leading to the enhancement of business operations (Guttmann, 2021). The following research mainly has its focus on the impact of AI on the marketing process along with the providence of recommendation about how it can be more effective in marketing operations.
Project rationale
This project the importance of Artificial Intelligence will be thoroughly discussed. AI Marketing based on Artificial Intelligence that makes self-acted and automatic decisions by its own and it has a Positive impact on Customers that speed up the development in the Digital Market. It emerged from Data Collection, The analysis of Collected data and Additional Observations of monetary traders that may have a positive effect on marketing. Artificial Intelligence is often used in those kinds of industries where rapid growth is needed. It has the power to induce Campaign ROI. Using AI technology in an appropriate manner means marketers can get the essence the most worthy from their database and take action according to the dataset Miklosik et al. (2019) It increases market measurement and helps business persons to make decisions about their marketing strategy.
Figure 2: Usage of Artificial Intelligence in Marketing in US
(Source: Guttmann, 2021)
Artificial Intelligence has a great scope in the near future. The strategies of marketing are telecast to the peoples across all of the possible ways. This improved version of technology made business persons interact with people in a way that is less time taking and economically cheap for them and also for the Customers who are interacting with them. Thus the AI helps to summarize the business what their customer’s choices are and which product will have more possibility to get positive responses.It assists the marketers to understand their clients in a way which was not like the previous time. The increasing population and their modern need is showing that the future will be bright for human kind if Artificial Intelligence is properly used and there should be some restriction about not to misuse it.
Research gap
The research on the mentioned topic was already done previously. There were many more research papers submitted before this research and it seems that all of the researchers described briefly on what is Artificial Intelligence, what are the benefits of AI and what are its limitations. But there were no descriptions on how to implement the Artificial Intelligence and what should be done as protocol for not to misuse the technology. Not only that but also the way and the path also should have been there in the research so that the human being could benefit from those research. Because any research or study could be conducted when there is a meaning or some significant purpose to do it and the main or prime purpose should always help the human being by easing their life or recovering the environment. The implementation was missing in this research, apart from that everything was perfect. Some customers’ perspective is to go for traditional methods of marketing and others support and are comfortable in this improved version of digital marketing. But if Traditional ways of marketing are used , it will take a huge time and not only that it will decrease productivity. A Secondary Qualitative method was used in this research and the researcher has to redo the work for the mentioned gap Guttmann, (2021)
Ensemble learning
Artificial Intelligence is being treated as the revolution in the Industry of Market and most of the peoples have trust on it that Artificial Intelligence or AI will be the solution to all the problems. AI creates the formation of the learning of computers in peoples.And it has the power to change the issues that will be there in the near future. It has the ability to make new industries, environments along with technologies that will have apositive impact on both human beings and nature. According to Gartner AI is capable of generating 2.3 Million vacancies in 2020. Artificial Intelligence is on track to create a huge amount of $1.4 Trillion to $2.6 Trillion through fixing the marketing and Sales. The marketing teams and CEO of business wants to build trust and get empathy from their customers and this way a better decision will be chosen. Ameen et al . (2021) . Artificial Intelligence is becoming very popular because the market is based on it nowadays. It has the power to increase revenue growth. Not only that but also it is capable of doing improvement in performance.
Research motivation
It is proven now that Artificial Intelligence has become the least time consuming and effort giving method among all the methods. Most of the industry has been adjusted with and adapted to AI Technology so far. The mostly new statistics show that the latest technology of AI can be sped up by 40% in business as productivity. IT noticed that businesses who have more AI technology have the more capability to remain in the competition in the market in many more ways. That is why more and more business leaders are willing to contribute their money to have Artificial Intelligence André et al . (2018)
Section 2: Research Aim, Objectives, Approach and project Plan
Research Aim:
The main aim of this research is to learn how artificial intelligence (AI) is influencing the market and how to apply it for the benefit and to know about the methods of artificial intelligence to obtain market capacity. This research also observes its impact on the market and advertisements for marketers, who are using it for a long period.
Research Objectives
The following are the objectives for this research, which are mentioned in the table below.
| Objective 1: To know about the concept of artificial intelligence associated with intelligent marketing. | ||||
| Deliverable | Duration | Research Design | Quality | Planned Outcomes |
| Nowadays AI is used everywhere, and marketers are using it for improving marketing strategies. | 2 Weeks | Gathering information about the basic concept of AI used in marketing | The knowledge and concept of AI usage and its importance for the marketers for enhancing intelligence marketing | Different AIs are currently available and getting used in day-to-day marketing. In order to improve their strategies and consumer experience, it is very helpful. |
| Objective 2: To identify the importance of artificial intelligence in advertising and marketing | ||||
| Deliverable | Duration | Research Design | Quality | Planned Outcomes |
| There are lots of ways where people are putting AI to improve their marketing qualities | 1 Week | Covering the information about the importance and benefits of AI in intelligence marketing. | The technologies that are putting an impact on Marketing | Marketers use AI for analyzing the data, and theaters also use it for content generation. Moreover, AI can be used for search and speech recognition as well as in media buying. Also, marketers use AI on their websites for ad targeting and also use it as chatbots |
| Objective 3: To learn how artificial intelligence enhances the Pay-Per-Click(PPC) advertising | ||||
| Deliverable | Duration | Research Design | Quality | Planned Outcomes |
| Most markets nowadays using pay per click or PPC for targeting the audience | 2 week | Marketers’
initiation toward their strategies and using PPC with the help of AI |
Different ways of using AI and creating new channels of advertising. | With the help of AI Advertisement has reached a new level, it is timesaving and it helps the advertisers to test different ad platforms. Moreover, it is helping to optimize the target and gather as much PPC as possible. Using AI in PPC also helps to increase the return with smart bidding, and helps to align ads with different market audiences. |
| Objective 4: To Learn how intelligence marketing is improving the website experience | ||||
| Deliverable | Duration | Research Design | Quality | Planned Outcomes |
| AI is very capable to create or build different and new websites, it also helps to enhance the experience of the website visitors. | 2 Weeks | How building different websites with help of AI gives benefits the marketers | Customers’ experiences and viewpoints are also their hassle-free experiences on websites. | AI can be used to build new websites and by making different websites, it gives a smooth and hassle-free experience to the viewers, analyzes lots of data points, and displays the best content and best-suited offers to the visitors. Not only that, AI can be used as push notifications, where it can provide them with the right message at the correct time with the help of behavioral personalization. |
| Objective 5: To understand how AI is used as chatbots to improve intelligence marketing | ||||
| Deliverable | Duration | Research Design | Quality | Planned Outcomes |
| Most websites nowadays visitors can see chatbots, with the help of AI chatbots are created and it is automated customer service for enhancing the marketing experience. | 2 weeks | How chatbots are made with help of AI using improving the user experiences and improves market strategies. | Results obtained after using chatbots get measured and analyzed | Using chatbots has reduced the time and has boosted the user experience; all thanks to AI, also with the help of AI marketing has reached the next step toward the future. Chatbots are very useful as they understand the needs of the customer and provide customer support, moreover, they can create better-personalized content than humans. Chatbots can have the access to lots of customers to understand the specific request or they can detect the pattern of customers’ preferences, as a result, they can predict the particular cause or wants of the customer.
|
Table 1: SMART Objective
Research Approach and methods:
In order to complete, this project successfully secondary data has been collected and based on that the report has been generated. Using different secondary methods is time-saving and as well as lots of data can be covered within a limited time. Researchers have found lots of information based on their critical evaluation; moreover, they have reached out to different sectors about the impacts of intelligence marketing in day-to-day life. As mentioned in Patel and Patel (2019) research methodology is a systematic way to solve the research problems and research is needed to complete through different scientific and specific information.
Research approaches and methods both are very important parts of the entire research and also have some similarities. Both of them represent the whole process of planning and proceeding to collect, interpret and analyze the data. There are three types of methods in research work, they are – Quantitative, Qualitative, and Mixed. For this research purpose, the Secondary QualitativeMethod is more applicable. The Secondary Qualitative method is the most acceptable because it is very easy to use and involves already exited data. Thus it gives the accuracy of work and takes less time. Since it has already existed, therefore there is a chance for getting a variety of structured data which helps to increase efficiency Rahman (2020).
Risk Log
| Risk Description | Impact | Resources | Time | Cost |
| Risk of understanding the use of AI which is considered as most advanced technology that can benefit customers and their adaptability | High | Internet Journal and articles | One week | As AI is not easily understandable for every customer and these types of technologies are new to them, customers can have difficulties understanding the procedures (Huang and Rust 2022). |
| Risk of high investment in the intelligence market | High | Journals and Newspaper articles | One week | In order to make the intelligence market a huge amount of investments needs to be done. Cost is a crucial element here, which needs to be kept in mind for implementing AI in markets. |
| Providing 24*7 assistance among customers for engagement of customers | Medium | Internet Journals | 2 Days | As AI-based assistance is limited to everyone and sometimes the queries are not properly handled by AI which leads to customer dissatisfaction (Stone et al. 2020) |
| Risk of replacing the data analysts after using AI on a large scale in the market | High | Internet articles | 3 Days | The result of using AI growth in the market can make humans unnecessary as less need for data analysts, as a result, they will be unemployed (De Bruyn et al. 2020). |
| Algorithms which are used in AI to gather data can be wrong and | Medium | Online websites | 5days | AI is dependent on algorithms and it is needed for gathering data on customers’ needs and preferences. As mentioned in Lévesque et al. (2022) the wrong algorithm can change the whole data list and can give wrong information about the customer as a result market can receive the wrong target audience report |
Table 3: Risk assessment for advertising and marketing by using AI
Research project plan
According to Kraynova (2020), a Task list is a customized list that represents the interdependent tasks that are automated in a certain workflow.
| Task | Deliverable | Resources required | Skill required | Time required |
| Topic analysis for project | Various project topic is received on the internet | Confidential Sources | Research skills | 5th week of August |
| Topic selection of the project | Interested topic and advanced analyzed solution | NA | Analysis skills | 1st week of September |
| Background study of Deep learning and ensemble learning in the Marketing process | The understanding of the deep and ensemble model in the marketing process is obtained | Confidential Sources, articles, books, and journals | Analysis skills | 1st to 2nd week of September |
| The project motivation analysis | Reason of project is required | Confidential sources | Analysis skill | 2nd to the third week of September |
| The analysis of project advantages | The benefits of the marketing field of using deep learning are resolved | NA | Providing care in details | 3rd week of September |
| The collection of various Literature sources | Journal and articles | Intimate sources, Journal, books, articles | Searching for information | 4th week of September |
| The critical evaluation of the literature | Journals and articles are evaluated and compared by using methods and providing benefits | NA | Critical evaluation | 4th to 5th week of September |
| Analysis of combining different deep learning models. | Used algorithms working style is required in marketing | Confidential Sources | Analysis skills | 5th week of September |
| Selection of the right tool to analyze data | The most appropriate and effective algorithm is selected and proposed for the ensemble model | NA | Decision-making and evolution skills | 1st week of October |
| The performance of the ensemble model algorithm is measured | Performance evaluation of ensemble model is completed | Confidential Sources | Analysis Skills | 2nd week of October |
| The critical discussion on research ethics | A future target is required | Confidential sources | Analysis Skills | 3rd week of October |
| Project closure | Significant services are provided after completing the project | NA | Analysis Skills | 3rd week of October |
Section 3: Ethics, Legal, Social, Security, and Professional Issues
Ethics is necessary for every work, thus research work is not exceptional in that case. It is needed for prohibiting the fabricating, falsifying, and misrepresenting of the research data and raising the truth, and ensuring to minimize the error Garrett, Beard, and Fiesler (2020). Ethics can protect a researcher from harm and keep their identities confidential and also gives them the right to research without deceptive practice. But ethical issues in secondary qualitative research work depend on some facts like the relationship between researcher and participant. It can raise a range of various ethical concerns and face dilemmas like privacy and confidentiality. It can emerge for choosing the contradicting issues and using various methodological strategies in the area of conflict. The reason for conflict between different components like participants, researchers, discipline, rules, and regulations may be society as inevitable way. Some significant ethical concerns that should be kept in mind while dealing with secondary qualitative research are confidentiality, informed consent, and anonymity. For secondary qualitative research, it is absolutely important to specify the process of data collection and the adding methods of it. Secondary qualitative research can utilize and clarify the different aspects of human life and protect them from any kind of harm. Developing a good relationship is needed to collect this kind of data in the respect of the facts. Secondary qualitative data are focused to produce a narration of the entire experience. Thus the researcher works as the mediator between the respondents and the concerned people. The physical presence of a researcher is required for giving a better understanding of the role and potential outcomes in the field. As per the thoughts of Gómez et al. (2019), socially vulnerable populations become an issue of research nowadays. It refers to a group of people who have racial minorities, socio-economically weak, children, old people, and more. They may have health conditions that are enhanced by insufficient healthcare.
According to Li and Chang (2021), several regulatory authorities have been participating to authorize the safety of topics or subjects that are involved in research. It is necessary to get approval from the regulatory bodies before moving to any kind of research. But the constitution and rules and regulations vary from nation to nation. Researchers need to be aware of these regulations and respect authorities. Secondary qualitative data creates issues due to some factors like inaccuracy in collecting data. Because there is a limitation to collecting the secondary data and the collected data may not be correct and relevant. The collected data may be outdated due to being stored for a long time and the information, and technology all are changing day to day. Due to the previous survey, the collected data may not be relevant to the demand or needs of researchers. In that case, it gives an irreverent outcome for the respective researcher. There is no restriction and privatization of using data. Thus anyone can access the data and that means no uniqueness between them and similarity and plagiarism can arise at any time. Due to the lack of privatization, there is no quality in the collected data and the users do not have control over them. As the data is based on their opinion and perception of a researcher, thus it can be bayside and that has an impact on the whole research work.
References:
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De Bruyn, A., Viswanathan, V., Beh, Y.S., Brock, J.K.U. and Von Wangenheim, F., 2020. Artificial intelligence and marketing: Pitfalls and opportunities. Journal of Interactive Marketing, 51(1), pp.91-105.
Garrett, N., Beard, N. and Fiesler, C., 2020, February. More Than” If Time Allows” The Role of Ethics in AI Education. In Proceedings of the AAAI/ACM Conference on AI, Ethics, and Society (pp. 272-278).
Gómez, A., Padrós, M., Ríos, O., Mara, L.C. and Pukepuke, T., 2019, February. Reaching social impact through communicative methodology. Researching with rather than on vulnerable populations: the Roma case. In Frontiers in Education (Vol. 4, p. 9). Frontiers Media SA.
Guttmann, A., 2021. Business outcomes realized through the use of artificial intelligence (AI) according to marketers worldwide as of December 2020.
Huang, M.H. and Rust, R.T., 2022. A framework for collaborative artificial intelligence in marketing. Journal of Retailing, 98(2), pp.209-223.
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