Business Research Methods

Literature Reviews
1. How Artificial Intelligence will change the Future of Marketing

Author: Thomas Davenport, Abhijit Guha, Dhruv Grewal, Timna Bressgott

This paper outlines a framework to understand how AI will impact the future of
marketing, specifically to outline how AI may influence marketing strategies and
customer behaviors. It builds on prior work, as well as builds from extensive
interactions with practitioners. First, they develop a multidimensional framework
for the evolution of AI, noting the importance of dimensions pertaining to
intelligence levels, task types, and whether the AI is embedded in a physical
robot. In so doing, they provide the first attempt to integrate all three dimensions
in a single framework. They also make two (cautionary) points. First, the short to
medium term impacts of AI may be more limited than the popular press would
suggest. Second, they suggest that AI will be more effective if it is deployed in
ways that augment (rather than replace) human managers.

To examine the full scope of the impact of AI, they propose a research agenda
covering three broad areas: (1) how firms’ marketing strategies will change, (2)
how customers’ behaviors will change, and (3) issues related to data privacy, bias,
and ethics. This research agenda warrants consideration by academia, firms, and
policy experts, with the recognition that although AI already has had some impact
on marketing, it will exert substantially more impact in the future, and so there is
much still to learn. They hope that this research agenda motivates and guides
continued research into AI.

Key takeaways from this paper for our Research:

(1) the low cost of storage implies that data may exist substantially longer than
was intended, (2) data may be repackaged and reused for rationales different
than those intended, and (3) data for a certain individual may contain information
about other individuals. Also, questions remain as to how to best acknowledge
and address privacy concerns at the moment data is collected and at the time of
data privacy failures. Also it discusses that testing the bias in AI applications is
important topic and AI may not be able to distinguish attributes that induce
potential bias. Also it says that there must be examination about how ethical
concerns about AI vary across cultures as well as address upfront the types of
applications for which AI must be used (or, should not be used for).
2. The role of privacy concerns in the sharing Economy
Authors: Christoph Lutz, Christian Pieter Hoffmann, Eliane Bucher & Christian
Fieseler
The research paper explores the privacy threats associated with Internet-
mediated sharing. It develops and tests a framework for analyzing the effect of
privacy concerns on sharing that considers institutional and social privacy threats.
Surveys in the US, have shown that a substantial number of citizens in Western
countries report online privacy concerns. At the same time, numerous studies
have shown that, despite these reported concerns, users extensively use online
services and share personal information online. This is what we can call “privacy
paradox”.
Privacy concerns regarding a service provider can be termed ‘institutional privacy
threats’. Some scholars have noted that social media may aggravate privacy
concerns, as users disclose personal data on these platforms ‒ not only to the
service provider but also to other users. As such, institutional privacy concerns are
amplified by social privacy concerns. However, in the case of sharing services,
users also share material goods or physical personal property. Therefore, sharing
services are associated with additional and distinct privacy threats that pertain to
physical privacy. The paper also examined the social dynamics that are associated
with online sharing.
Key takeaways from this paper for our Research:
1) The establishment of the existence of compounded privacy concerns in the
sharing context, as we found evidence of both online and physical privacy
concerns as well as a significant correlation between both.

2) A ‘sharing paradox’ exists, as we found that neither online nor physical privacy
concerns directly affects the sharing behaviors.

3) The research model provided the support for three distinct theoretical
explanations for sharing behavior despite compounded privacy concerns that are
based on user trust, the privacy calculus and social influence.
3. The implications of artificial intelligence on the digital marketing of
financial services to vulnerable customers

Authors: Emmanuel Mogaji, Taiwo O. Soetan and Tai Anh Kieu

Artificial intelligence is rapidly transforming digital marketing practices. This paper

describes the challenges confronting businesses as they attempt to integrate AI
into the digital marketing of their financial services. They gave the following
reasons why financial service sector is significant to this study: first, financial
services supports people’s daily activities, so these services are essential to both
individuals and corporation. Second, financial services are critical to the
functioning of the economy because they facilitate investment and exchange
flows. Third, Silicon Valley is increasingly interested in offering financial services
through various financial technologies (‘fintech’).

This paper presents information that enables financial services providers and
business leaders in general to recognise the implications of Al and digital
marketing data. The paper also discusses the implications around the processes in
the framework for vulnerable customers, marketers, developers, and
policymakers as it applies to the marketing of financial services to vulnerable
customers. This study provided a theoretical framework to financial services
providers, AI developers, marketers, policymakers, and academics, aiding the
understanding of the risky conditions facing vulnerable customers, and the ways
in which they can more effectively be reached.

Key takeaways from this paper for our research:

1. Al-enabled digital marketing is not as simple as collecting big data and using
analytical algorithms, the technology may not always help businesses target
their customers more effectively.
2. The paper highlighted the key implications in the collection, processing, and
delivery of information, as well as the importance of human connection for
optimal customer experience and engagement with financial services
providers.
3. Understanding ethical implications, as well as data and modeling
challenges, is necessary for the successful deployment of AI.
4. Towards Security and Privacy for Edge AI in IoT/IoE based Digital
Marketing Environments

Author: Raj Sachdeva

This paper navigates some key security and privacy issues for Edge AI in IoT/IoE
digital marketing environments along with some possible mitigation. The main
security and privacy issues discussed in the paper are:
1. Edge device authentication can pose security issues if not implemented
effectively.
2. Ransom ware on Edge devices involved in digital marketing process can
potentially compromise confidentiality, availability, and integrity.
3. Sensors, actuators and processors can also be a source of security concern.
4. Tricking AI/ML algorithms is another security concern. False images and voice
are also a concern as these can be used heavily in digital marketing.
5. Traditional security concerns such as malware, marketing email spoofing, and
others can also be problematic and must be considered as these can create
vulnerabilities for Edge devices.
The authors also gave recommendations about specific actions that could be
taken by a digital marketing relying upon Edge AI. For example,
1. Hiring a system security manager
2. Scanning of relevant confidential data on the local Edge devices instead of
sending it into the cloud will help to reduce security problems in this scenario.
3. Recommender systems” can be widely used including the use of “collaborative
filtering”, “content-based methods”, and several other methods.

Key takeaways from this paper for our Research:

1. Consumers often provide data to marketer which is used to enhance services

and provide a personalized customer experience. However, use, storage and
processing of data have been a key concern.

2. Edge AI can be prone to its own security and privacy considerations, especially
in the digital marketing context where personal data is involved.

3. An Edge AI model can work hand in hand with a cloud model in order to be
effective as a purely Edge AI based model will likely be insufficient.
5. Transforming Digital Marketing with Artificial Intelligence

Author: Dr. Amol Murgai

The research paper briefs about Artificial Intelligence (AI) and its rapid application
in today’s world in various sectors but this research paper mainly focuses role of
AI in Digital Marketing.

Starting from role of AI in Business in marketing, advertising, mitigating risks,

enhancing customer service through virtual personal assistant and its future in
business world. Function of AI in recent Business transaction i.e. how data is
collected from internet through browser and apps that is manipulated with
computer programs which then create and sends recommendations based on his
interest and behaviors significance of AI in Digital Marketing and relationship
between them. AI helps saving both time and money. On other hand helps
identifying potential customer.

AI functions in Digital Marketing in different ways like 1) Marketing Increasingly

Focused on Consumer Behaviour. 2) Predictive Marketing 3) Lead Generation 4)
Chatbots 5) Automated Content Creation 6) Refining Advertisements 7) Image
recognition 8) Email Marketing 9) Augmented Reality

Technological advancements have always helped businesses by creating new

opportunities for reaching customers. Artificial Intelligence in B2B sales and
marketing is here to transform the way people interact with brands, information
and services. Artificial intelligence made its presence felt this year through its
supplementary processes such as big data, Internet of Things and Machine
Learning. But these are only components that will eventually contribute towards
unleashing the full potential of AI.
Artificial intelligence is continually becoming an empowering tool for digital
marketers and works on the tricks to get the information from an individual or the
group of people to and make your brand a huge one.
Key takeaways from this paper for our Research:
Future of Digital Marketing is sync with AI and it is safe to invest in Artificial
Intelligence which has great return on investment in future.
6. Data Privacy: Effects on Customer and Firm Performance
Authors: Kelly D. Martin, Abhishek Borah, & Robert W. Palmatier
While relying on customer data marketers must not ignore the ramifications of
such data use. This paper identifies what is Customer Data Vulnerability and then
with the help of three studies, shows that transparency and control in firms’ data
management practices can suppress the negative effects of customer data
vulnerability. Vulnerability implies susceptibility to injury or harm. This paper
delineates customer data vulnerability along a continuum of potential harm.
Ranging from the most benign form where companies have access to a
customer’s personal data—that is, data access vulnerability to data manifest
vulnerability where the customer data are actually misused, causing harm to the
customer. Disclosures and fraudulent activities represent the most severe form of
vulnerability by moving beyond susceptibility to a state of actual harm.

In this paper the researchers have attempted to create a conceptual framework

based on three different studies in order to show how Customer data
vulnerabilities impact customer behaviour. The framework suggests that
customer data vulnerabilities when passed through the twin mediating
mechanisms of Emotional and cognitive trust violations can lead to three different
types of customer behaviours viz, a) Falsifying Information, b) Negative word of
Mouth and c) Switching Behaviour. This process is acted upon by Vulnerability
suppressing factors such as Transparency and Control. These factors increase the
trust and help the firm in avoiding a sense of Emotional violation from being
generated in the minds of the customers.

Key Takeaways:
a) Backlash to increasing emphasis of firms on customer data collection and
use appears to be growing
b) This is due to customers’ perceptions of vulnerability
c) Vulnerability generates negative outcomes for firms including negative
abnormal stock returns.
d) Vulnerability is strongly related to damaging customer behaviours.
e) Data transparency and control practices can suppress these negative affects
f) Firms need a more tempered approach to data and analytics initiatives
involving collection and usage of customer data.