As Artificial Intelligence is reshaping the retail landscape, it is important for consumers to be aware of the benefits as well as the privacy concerns. In a recent news media interview, Elijah Clark, a TCU Neeley School of Business marketing instructor shared his expertise on the effect AI has on businesses and consumer purchasing behavior.
June 06, 2023
By Amber Billops
Businesses are utilizing Artificial Intelligence (AI) to make consumer shopping experiences more efficient and personalized, said Elijah Clark, a marketing instructor in the TCU Neeley School of Business in an interview on KDAF-FOX4. The results are transforming the retail landscape for businesses and consumers alike.
The interview opened with the question of whether AI benefits buyers or sellers more.
"It should help both the seller and buyer. AI is designed to profile customers from a business and marketing standpoint,” Clark said. “By tracking consumer behavior through clicks and analytics, businesses can create more efficient marketing strategies, resulting in faster product deliveries and enhanced product discovery."
The capabilities of chatbots, such as ChatGPT, utilize natural language processing. These chatbots facilitate human-like conversations across websites, messaging platforms, and apps.
"Chatbots are designed with a predefined set of rules by developers or employ machine learning techniques,” Clark said. “They can provide responses based on predefined rules, such as clicking on a category or question, or offer natural responses to any question posed by the user."
The integration of AI into shopping experiences enables personalized product recommendations and streamlines the buying process. With AI's ability to anticipate customer preferences, shopping becomes more tailored to individual needs.