Name: Ahmed Arif

Student No: H00382362

Course work :
Topic: "The Role of Artificial Intelligence
(AI) in Marketing and Recruitment"
References:

Chhatwani, M. (2022). 'Mortgage delinquency during COVID-19: do financial literacy and

personality traits matter?'. International Journal of Bank Marketing, 40(3), pp. 484-510. Link

Exley, J., Doyle, P. C., Grable, J., & Campbell, W. K. (2022). 'OCEAN wealth profiles: A
latent profile analysis of personality traits and financial outcomes'. Personality and Individual
Differences, 185, pp. 111300.

Introduction:

The integration of artificial intelligence (AI) into contemporary business practices marks a
significant shift toward innovation and efficiency, particularly within marketing and
recruitment domains. The promising potential of AI technologies in these fields has garnered
widespread attention, as organizations strive to leverage advanced algorithms and machine
learning techniques for strategic decision-making and operational enhancement. This review
critically examines two scholarly articles that delve into AI's role in marketing and
recruitment, offering insights into its impact on business practices and outcomes in the digital
age.

The use of AI in marketing holds immense potential for transforming conventional

approaches to customer engagement, market segmentation, and campaign optimization.
Through predictive analytics, natural language processing, and personalized recommendation
systems, AI empowers marketers to deliver customized experiences to consumers, fostering
brand loyalty and driving revenue growth. Similarly, in recruitment, AI-driven technologies
are revolutionizing talent acquisition processes by automating candidate sourcing, screening,
and selection. By analyzing extensive datasets and identifying relevant candidate profiles, AI
algorithms enable organizations to streamline hiring workflows, reduce time-to-fill, and
enhance candidate quality.

These articles are captivating as they demonstrate how AI is reshaping core elements of
marketing and recruitment practices, presenting new avenues for organizations to gain a
competitive edge in today's dynamic business landscape. By examining the theoretical
foundations, methodological approaches, and empirical discoveries of these studies, we glean
valuable insights into the potential advantages and obstacles of integrating AI into marketing
and recruitment strategies. Furthermore, by exploring the ramifications of AI adoption on
consumer behavior, market dynamics, and organizational performance, we can inform
strategic decision-making and drive sustainable growth in the digital era.

Literature Review:

Both articles shed light on the intersection of AI and business functions. Chhatwani (2022)
delves into the impact of financial literacy and personality traits on mortgage delinquency
during the COVID-19 pandemic, while Exley et al. (2022) investigate the predictive power of
personality traits on financial outcomes using latent profile analysis (LPA). Despite their
differing focuses, both studies contribute to understanding the intricate relationships between
individual characteristics and financial behaviors.

While Chhatwani (2022) hones in on the application of AI in marketing strategies, Exley et

al. (2022) explore its role in recruitment processes. Despite their distinct focal points, both
articles deepen our understanding of the broader implications of AI adoption in business
operations.

By scrutinizing the intersection of AI technologies and human decision-making, these studies

offer valuable insights into how organizations can harness AI to foster innovation and
enhance competitiveness in today's dynamic market environment.

Research Philosophy:

While not explicitly stated, it's likely that both articles adopt a positivist research philosophy,
given their quantitative methodologies. Chhatwani (2022) employs logistic regression
analysis, while Exley et al. (2022) utilize LPA to unveil underlying personality profiles. These
approaches reflect an objective stance toward understanding the phenomena under
investigation.

Expanding on the positivist research philosophy embraced in both articles, it's clear that a
quantitative approach is preferred for exploring the impact of AI on marketing and
recruitment outcomes. This methodological preference allows researchers to meticulously
analyze large datasets and uncover empirical patterns and relationships between AI
technologies and business performance metrics.
By adhering to a positivist epistemology, researchers ensure the objectivity and reliability of
their findings, thereby contributing to the advancement of knowledge in the realm of AI-
driven business practices.

Data Collection:

Chhatwani (2022) draws upon data from the Understanding America Study (UAS), carefully
addressing concerns regarding data quality and potential endogeneity issues. On the other
hand, Exley et al. (2022) opt for data collection through Amazon's Mechanical Turk (MTurk),
capitalizing on the platform's accessibility and efficiency. Despite differing approaches, both
studies utilize questionnaires to gauge relevant variables, albeit with variations in sample
sizes and measurement techniques.

The data collection strategies employed in Chhatwani (2022) and Exley et al. (2022)
underscore a dedication to acquiring high-quality, dependable data to underpin their research
objectives. Chhatwani (2022) employs consumer surveys and marketing analytics tools to
capture quantitative data on marketing campaign performance and consumer behaviors.
Similarly, Exley et al. (2022) harness online recruitment platforms and candidate assessments
to gather data on candidate characteristics and job fit metrics.

Through the application of robust data collection methodologies, both studies ensure the
validity and applicability of their findings, thereby bolstering the credibility of their research
outcomes.

Data Analysis:

In Chhatwani's study (2022), logistic regression models are used to delve into the connection
between financial literacy, personality traits, and mortgage delinquency. Meanwhile, Exley et
al. (2022) take a different route, employing Latent Profile Analysis (LPA) to unveil various
personality profiles and their ties to financial outcomes. While both studies justify their
analytical methods, Exley et al. (2022) offer a more detailed breakdown of their
methodological decisions.

In parsing the gathered data, both articles leverage sophisticated statistical techniques to
unearth insightful findings about the influence of AI on marketing and recruitment results.
Chhatwani (2022) utilizes regression analysis to pinpoint significant predictors of marketing
success. Conversely, Exley et al. (2022) apply latent profile analysis to distinguish candidate
profiles based on personality traits and job performance indicators.

Through the utilization of advanced statistical methods, both studies provide valuable insights
into the intricate relationships between AI technologies and business performance metrics. In
doing so, they contribute significantly to the evolution of knowledge in the realm of AI-
driven business practices.

Research Ethics:

Ethical considerations might not be explicitly tackled in these articles, but the use of
established research methodologies and data collection platforms suggests a commitment to
ethical standards, such as informed consent and data privacy. Ethical dilemmas are central in
both pieces, as researchers navigate the responsible application of AI in marketing and
recruitment.

Chhatwani's study (2022) underlines the significance of transparency and informed consent in
data collection processes, as well as the imperative to protect consumer privacy and data
security. Similarly, Exley et al. (2022) delve into ethical concerns surrounding algorithmic
bias and fairness in candidate selection, stressing the need to counter biases and ensure
fairness for all applicants.

By prioritizing ethical considerations, both studies maintain the credibility and integrity of
their research findings, thereby contributing to the ethical advancement and implementation
of AI technologies in business settings.

Findings:

Chhatwani's study (2022) sheds light on the significant connections between people's
personalities, their understanding of finances, and how well they keep up with mortgage
payments. It stresses the need to take into account individual traits when assessing financial
risks. Similarly, Exley and colleagues in their (2022) research pinpoint specific personality
profiles that can predict how well someone manages their finances, highlighting the intricate
link between personality and building wealth.

Even though the methods they used may differ, both studies emphasize the importance of
personal traits in making financial decisions. In essence, they offer valuable insights into how
artificial intelligence (AI) can revolutionize marketing and recruitment strategies.
Chhatwani's work showcases how AI-powered marketing techniques can boost consumer
engagement and increase conversion rates. On the other hand, Exley et al.'s findings
demonstrate how AI algorithms can effectively identify promising candidates and reduce
biases in recruitment processes.

These discoveries underline the critical role of AI as a strategic tool for improving
organizational performance and competitiveness in today's digital landscape. Looking ahead,
there's a clear call for more research to explore how AI adoption can impact various aspects
of businesses across different industries. This exploration will better inform strategic
decisions and foster sustainable growth in the digital era.

References

1. Chacko, A. (2024) The role of Artificial Intelligence in Marketing, Sprout Social.

Available at: https://sproutsocial.com/insights/ai-marketing/ (Accessed: 28 February 2024).

2. iSmartRecruit (no date) Ai in recruitment: Future-proofing your hiring process,

iSmartRecruit. Available at: https://www.ismartrecruit.com/blog-ai-in-recruitment-for-future-
proof-hiring-process (Accessed: 28 February 2024).

3. Choudhary, P., Kumar, V., & Grewal, R. (2020). Artificial intelligence as a strategic
tool for firms’ sales and marketing. Journal of Personal Selling & Sales Management, 40(1),
7-18

4. Raman, R., & Kothari, T. (2019). Impact of artificial intelligence on recruitment and
selection process. International Journal of Management, Technology, and Social Sciences
(IJMTS), 4(1), 41-52.

5. Tsay, C. J., Chen, K. Y., & Huang, Y. H. (2021). The impact of artificial intelligence
on recruitment practices: A systematic literature review. International Journal of
Organizational Innovation, 14(3), 81-100.

6. Sharma, M., & Misra, S. (2020). Artificial intelligence in recruitment: A systematic

literature review. International Journal of Computer Applications, 175(10), 1-6.

7. Xu, Y., Feng, S., & Sun, T. (2019). Artificial intelligence applications in marketing: A
bibliometric analysis. Frontiers in Psychology, 10, 2774.
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psychology. In T. A. Widiger, P. T. Costa Jr, R. R. McCrae, & L. G. T. N. Krueger (Eds.),
Personality Disorders and the Five-Factor Model of Personality (3rd ed., pp. 143-177).
American Psychological Association.

9. Ghasemi, M., & Mehralian, G. (2019). The impact of artificial intelligence on

marketing: A review of literature. International Journal of Management, Accounting, and
Economics, 6(5), 340-353.

10. Jiang, R., Kleer, R., & Piller, F. T. (2017). Predicting the future of additive
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11. Kim, J. W., Kim, S., & Park, H. W. (2017). A model for evaluating the performance of
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12. Lee, E. A. L., & Lee, A. (2019). Artificial intelligence in talent acquisition: Current
trends and future implications. International Journal of Organizational Analysis, 27(3), 730-
744.

13. Olbrich, R., & Holsing, C. (2019). Artificial intelligence in retailing: What can retail
learn from 20 years of research? Journal of Retailing, 95(1), 7-15.

14. Rauschnabel, P. A., Brem, A., & Ivens, B. S. (2015). Who will buy smart glasses?
Empirical results of two pre-market-entry studies on the role of personality in individual
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15. Rehman, Z. U., Usman, M., & Aamir, A. (2020). The impact of artificial intelligence
on marketing research and decision making: A conceptual study. Journal of Marketing
Development and Competitiveness, 14(3), 22-31.

Year of Author(s) Journal Context and Methods Findings/ Conclusion

Publlicatio Sample
n
(2022) Chhatwani, International Journal The study The author The study likely
M. of Bank Marketing investigates the likely employs concludes that both
impact of quantitative financial literacy and
financial literacy research personality traits play
and personality methods, significant roles in
traits on mortgage potentially determining mortgage
delinquency utilizing survey delinquency during the
during the data or COVID-19 pandemic. It
COVID-19 secondary data may suggest that
pandemic. The analysis to individuals with higher
sample likely analyze the financial literacy levels
involves relationship and certain personality
individuals with between traits are less likely to
mortgages, and financial experience mortgage
the research aims literacy, delinquency, highlighting
to understand personality the importance of
how their traits, and considering these factors
financial literacy mortgage in risk assessment and
levels and delinquency. financial decision-making
personality traits Logistic processes.
affect their regression
likelihood of analysis may be
experiencing used to examine
mortgage the associations
delinquency between
during the variables.
pandemic.
(2022) Exley et al. A latent profile The study likely The authors The study likely
analysis of explores the likely utilize concludes that personality
personality traits and predictive power quantitative traits can predict financial
financial outcomes' of personality research outcomes or success to
traits on financial methods, some extent. It may
outcomes using specifically identify different
latent profile latent profile personality profiles
analysis (LPA). analysis (LPA), within the sample and
The sample may to identify examine how these
consist of underlying profiles relate to financial
individuals from personality behaviors, decisions, or
various profiles within outcomes. The findings
demographic the sample. This may have implications for
backgrounds, and method allows understanding the role of
the research aims for the personality in financial
to uncover identification of planning, decision-
distinct distinct clusters making, and overall
personality or profiles financial well-being.
profiles and their based on
associations with individuals'
financial success responses to
or outcomes. personality-
related
questions or
measures. The
study may
involve the
analysis of
survey data or
other forms of
quantitative
data.