ABSTRACT
We are living in an era of substantial revolution driven by ICT (information and communication technology), digitization, AI (artificial intelligence), ML (machine learning), and robotics. The approach followed in traditional marketing is transitioning to digital marketing which is enabled by AI and ML. Online shopping has replaced conventional in-store shopping as the primary method of consumer consumption. Business analytics, artificial intelligence, and machine learning can analyze and forecast customer behavior, thanks to the abundance of transaction and demographic data. This increases customer happiness and boosts sales. Predictive analytics, for instance, uses various algorithms to forecast the relationship between outcomes and factors and to spot data trends. Marketers analyze data trends using data mining techniques to forecast consumer interests. Marketers may now automate the pattern-searching and pattern-identification procedures to enable personalized and one-to-one digital marketing, which delivers customized messages and product proposals to both current and potential customers. Marketing strategies are being revolutionized by the development of consumer-generated data and the expanding accessibility of Machine Learning (ML) tools. Researchers and marketers still lack a thorough knowledge of the numerous potentials that ML applications present for establishing and sustaining a competitive business advantage.
