Artificial Intelligence: A disruptive technology or a technology disrupting society?

Artificial intelligence (AI), a technology that enables computers and machines to mimic human intelligence and problem-solving abilities, has advanced to an unprecedented level, affecting practically every aspect of human life. AI is utilised everywhere, including cell phones, hospitals, transportation, elections, corporations, and government. According to a PricewaterhouseCoopers (PwC) estimate, it might contribute USD 15.7 trillion to the world economy by 2030. When the world considers the yet-undiscovered potential of AI in various aspects of life, marketing is one of the areas where AI appears to be transforming all traditional marketing methods, such as print advertising, which includes brochures, or broadcasting, which provides for TV or radio commercials.

AI Transforming Marketing Industry:

Marketing refers to the activities a company undertakes to promote the buying or selling of its products or services. Marketing includes advertising and allows businesses to sell products and services to consumers, other businesses, and organisations. The use of AI and machine learning have revolutionised the field of marketing and engaging with the audience. For example, Nike's' Never Done Evolving’ Campaign used AI and machine learning which led to significant growth in viewership and audience engagement. Furthermore, have you ever thought of a movie on Netflix and it just appeared on your recommendation list or thought of a product to purchase and you have started getting advertisements all over the platforms. These all are pervasive uses of AI to personalise the experiences of users.  The personalisation and targeted advertisement is done through various ways:

1. Data analysis and insights: AI can analyse huge social media, consumer, and industry data to gain insights. Marketers can analyse consumer behaviour and adjust their strategies.
2. Predictive Analytics: AI algorithms can predict future trends and outcomes from the past data that facilitates marketers to forecast customer needs and accordingly adjust their approach.
3. AI automates email, content, and social media marketing. Marketers can focus on essential efforts while promptly communicating with customers.
4. AI-powered chatbots and virtual assistants: improve customer service by delivering timely support. Virtual assistants can book appointments, answer queries, and recommend products.
5. Content Generation: AI uses data and criteria to generate articles, product descriptions, and adverts. AI-powered content generators can help marketers create high-quality content faster without replacing creativity. 

A Technology disrupting Society:

While we cannot deny the benefits of the AI for marketing and humanity, the potential dangers associated with the usage of this relatively new and disruptive technology are equally concerning. The capability of AI as a tool to manipulate human behaviour and choices knows no boundaries which can prove harmful to the society. The data collection and targeting the consumers in the quest of profit may sometimes push the companies to exploit the vulnerabilities of the consumers. This might sometimes lead the consumers to purchase things which might be harmful to them. If past precedence is evidence of the misuse of data and AI, the political realm has also not remained untouched by it. An example of it can be taken from the Cambridge Analytica scandal in which political behaviour of the American voters was influenced by misusing Facebook data of millions of voters posing a threat to freedom of speech and expression which is a quintessential for a democracy.

Experts are raising ethical concerns about the impact of AI on human behaviour, as well as its potential to challenge diversity and inclusion in society. There is a growing discussion surrounding the potential for AI to contribute to exclusion and discrimination. One concern is that AI relies on data, which can contain biases and stereotypes about certain communities. If marketing strategies are built upon these prejudiced data, it has the potential to reinforce and worsen existing stereotypes, ultimately perpetuating inequalities.

AI has demonstrated its benefits in various areas including the marketing industry by reducing the human burden of collecting data. AI has revolutionised conventional marketing style by enabling marketing strategists and companies to use  data insights, automate tasks, and provide personalised experiences leading to better results. However the technology is still in its nascent stage and many fear its ill effects on human behaviour and society in large as the personal data is being used to target the consumers. There are various measures that can be taken to save the humanity from the potential threat AI poses, some are: a) need to come up with an ethical code for the usage of data of the consumers; b) the consumers should be aware of how their data is being used c) though many countries have come up with the law for data protection, but there is a need to regulate, a leaf can be taken from first ever AI regulation by European Union. AI is a disruptive technology but the path AI takes is to be monitored cautiously in order to prevent it from disrupting society.