An Empirical Study on Integration of Artificial Intelligence and Marketing Management to Transform Consumer Engagement in Selected PSU Banks (PNB and Canara Banks)

Abstract

This research paper investigates the profound impact of integrating Artificial Intelligence (AI) into Marketing Management strategies to revolutionize consumer engagement. In an era marked by rapid technological advancements, businesses are increasingly recognizing the pivotal role of AI in shaping marketing approaches and enhancing customer interactions. The study explores the synergies between AI and marketing management, aiming to discern the transformative potential of this integration on consumer engagement. The paper begins by establishing a comprehensive understanding of the current landscape of AI applications in marketing management. It delves into the various AI technologies such as machine learning, natural language processing, and predictive analytics that are reshaping the marketing domain. Through an extensive review of existing literature, the research highlights successful case studies and identifies key trends that exemplify the positive impact of AI on consumer engagement. Furthermore, the study assesses the challenges and ethical considerations associated with the integration of AI in marketing practices. Analyzing potential drawbacks and concerns such as data privacy, algorithmic biases, and consumer trust issues, the paper strives to present a balanced view of the ethical implications surrounding AI in marketing management. The research employs a mixed-methods approach, combining qualitative and quantitative analyses to investigate the real-world implications of AI adoption in marketing strategies. Through surveys, interviews, and data analytics, the study aims to provide empirical evidence of the effectiveness of AI-driven marketing initiatives in improving consumer engagement metrics. In addition, the paper explores the role of AI in personalization and customization of marketing content. It examines how AI algorithms can analyse vast datasets to tailor marketing messages, promotions, and product recommendations to individual consumer preferences, thereby enhancing the overall consumer experience. Ultimately, this research contributes to the evolving discourse on the integration of AI and marketing management by providing insights into the transformative potential of this synergy. The findings of this study are expected to guide marketing professionals, business leaders, and researchers in understanding the nuances of AI-driven marketing strategies and their impact on consumer engagement, paving the way for a more informed and strategically aligned approach to harnessing the power of AI in the marketing domain.