CIA 3

ROLE AND IMPACT OF AI AND METAVERSE ON MARKETING

Submitted by: Submitted to:

Ananya Palakkeel (2221416) Dr. Sonal Devesh

Bopanna Sanjana (2221419)

Shreya Namana (2221428)

Rayudu Srinija (2221436)

Rohan Benny (2221437)

Riya Rao (2221460)

Class: 4 BBA D

Subject name: Research Methodology

Subject code: BBA443

Date of Submission

15/03/2024

School of Business and Management

Christ University

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INTRODUCTION
The integration of artificial intelligence (AI) and the metaverse has become a revolutionary force
in the rapidly changing field of digital technology, changing how modern marketing strategies are
thought of. The metaverse is a dynamic area for engagement where people engage with each other
and computer-generated settings in real-time through virtual reality. Simultaneously, artificial
intelligence (AI) technologies are transforming how businesses comprehend, engage, and serve
their target markets. Examining how AI and the metaverse interact is a crucial research topic for
marketers who want to stay on the cutting edge of innovation.

Combining AI with the metaverse adds new dimensions to marketing strategies and offers never-
before-seen chances for engagement, customization, and immersive customer experiences. To
shed light on the consequences, difficulties, and possible advantages for businesses navigating this
complex confluence, this literature review will examine the collection of research that has already
been done on the metaverse and artificial intelligence in marketing.

PREVIOUS STUDIES
The results of the previous studies, which compare consumer perceptions of human and artificial
intelligence influencers, show that consumers view AI influencers as less purposeful and
autonomous. The negative impact of consumer knowledge of AI influencers on attitudes and
purchase intentions is mediated by views of the credibility and effectiveness of the source's
persuasion(Manas Khatri,2022). The studies promote metaverse marketing research and highlights
how it affects supply chain management, retail, communication, and marketing ethics. Virtual
supply chain systems, immersive retail experiences, influencer marketing, and decentralised trust
are important subjects(Simon Fauser,2023). It is anticipated that the metaverse will transform
decision-making procedures, sustainable marketing strategies, and information search, fostering a
cooperative and sustainable digital economy (Buhalis et al., 2022). The studies also examine how
AI in digital marketing, metaverse technologies, virtual brand figures in China, and virtual
influencer marketing have shaped the evolving field of marketing.

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 RESEARCH GAP

• The role of emotions and trust in metaverse marketing

• Designing ethical and transparent AI marketing practices
• Measuring the effectiveness of personalized marketing in the metaverse
• Building genuine relationships through AI in the metaverse
• The Rise of Virtual Brand Ambassadors

Exploring the emotional impact of AI-driven interactions in the metaverse, this study delves into
how feelings influence purchasing decisions, trust, and brand loyalty. It investigates the potential
and challenges of AI avatars in establishing genuine connections with customers, questioning
whether AI can genuinely foster interpersonal relationships. The paper also advocates for further
research to develop precise rules and frameworks, addressing algorithmic bias, user privacy, and
transparency in AI-driven metaverse marketing strategies.

STATEMENT OF THE PROBLEM

Investigate the impact of artificial intelligence (AI) and the metaverse on consumer preferences and
engagement in the field of marketing.

RESEARCH DESIGN

Research Approach: Cross sectional survey design utilizing a quantitative approach as well as
using secondary sources to gather and analyze data from the target audience.

Data Collection Methods:

• Primary Data: Developing a questionnaire survey to collect data directly from

respondents.

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 Using various aspects of AI, Metaverse, and Marketing also Including closed-ended
questions for quantitative analysis and open-ended questions for qualitative insights.
• Secondary Data: Gathering existing data from reputable sources such as academic
journals, industry reports, research papers and government publications to provide context
and support analysis.

Sampling Strategy:

• Target population: marketers, businessmen, industry experts.

• Type of sampling: selective sampling
(Selecting individuals who are considered to be the most knowledgeable or representative
of the target population.)

Data Collection Procedure:

Administering the questionnaire survey through online platforms, email distribution, or in-person
interviews.

Findings and Discussion:

• Presenting the findings of the data analysis in a clear and organized manner.
• Discussing the implications of the findings in relation to the research objectives.
• Comparing the results with existing literature and theoretical frameworks.
• Highlighting practical implications for marketers and potential avenues for further
research.

OBJECTIVES

• Assessing Consumer Perceptions of AI Influencers

• Evaluating the impact of metaverse-enabled AI applications on consumer engagement.
• Anticipating Metaverse's Influence on Decision-Making and Sustainable Marketing
• Analyzing the Role of AI in Understanding preferences and trends
• Analyzing challenges caused and ethical issues faced due to AI in marketing
• Understanding the Evolution of Virtual Influencer Marketing

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DEPENDENT AND INDEPENDENT VARIABLES

Dependent Variable:

Marketing, Consumer Engagement, and Personalized Experiences: This is the primary dependent
variable discussed in the primary hypothesis. It encompasses the increased brand loyalty and
satisfaction resulting from the integration of the metaverse and AI in marketing.

Independent Variables:

1. Metaverse-enabled AI Applications: This variable is discussed in Hypothesis A,

suggesting that these applications will provide marketers with insights into consumer
behavior, preferences, and trends.
2. Personalized Marketing Strategies within the Metaverse: As discussed in Hypothesis
B, stating that personalized marketing strategies will lead to a higher conversion rate and
increased customer satisfaction.
3. Ethical Considerations and User Privacy Concerns: This is discussed in Hypothesis C,
pointing out that ethical considerations and user privacy concerns may pose challenges to
the widespread adoption of metaverse and AI in marketing.

QUESTIONNAIRE (verified by Dr. Raghavendra Prasad)

https://docs.google.com/forms/d/e/1FAIpQLSdOvAXaLTezHhq5eUQNfeWeSUPAOqB1mt6Yh9
cFuIrw7d664w/viewform
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PRIMARY DATA ANALYSIS
A comprehensive survey was distributed among businesses representing a variety of industries,
gathering a total of 32 responses. The majority of responses we received were from the IT industry,
followed by the Cosmetics, Textile, and Education industries. The maximum workforce size among
the surveyed companies falls within the range of 51 to 100 employees. In terms of geographical
scope, the majority of companies operated at regional and national levels. The findings of the
questionnaire are outlined below.

SPSS Reliability Test

Reliability analysis is a statistical process used to assess the consistency and dependability of

scale(questionnaire).

• Cronbach's Alpha: This is a common measure of reliability in Likert-type scales. It ranges

from 0 to 1, with higher values indicating greater reliability. In this case, the Cronbach's
Alpha is .872, which is considered a good level of reliability.

Overall, the table suggests that the scale used in this study has good internal consistency, meaning
that the different items in the scale are measuring the same underlying construct

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Primary Hypothesis:
(H0): The integration of the metaverse and AI in marketing will not result in significantly enhanced
consumer engagement and personalized experiences.

(H1): The integration of the metaverse and AI in marketing will result in significantly enhanced
consumer engagement and personalized experiences.

The above bar graph shows the results of the perceived importance of AI in understanding and
predicting consumer preferences and behaviors.
• The y-axis shows the percentage of respondents.
• The x-axis represents a scale ranging from 1 to 5, with 5 signifying “very important” and 1
signifying “not important at all.”

The most common response (56.3%) fell into the category labeled “4” which indicates that a majority
of respondents believe AI is somewhat important in understanding and predicting consumer
preferences and behaviors.

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Hypothesis A:
(H0): Metaverse-enabled AI applications will not provide marketers with unprecedented insights
into consumer behavior, preferences, and trends.

(H1):Metaverse-enabled AI applications will provide marketers with unprecedented insights into

consumer behavior, preferences, and trends.

Analysis:

According to the pie chart, the largest segment (40.6%) of respondents said that the metaverse has a
moderate influence on consumer decision-making processes. The moderate influence reported by
respondents likely indicates that while the metaverse is acknowledged as a factor in consumer
decision-making, it hasn't yet reached a level where it profoundly shapes those decisions. This could
be due to factors such as limited awareness or the perception that traditional factors still hold greater
sway in decision-making processes.

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The above pie chart shows an equal split between those reporting a significant increase (46.9%) and
those reporting a moderate increase (46.9%). None of the respondents reported a decrease in
consumer engagement after incorporating AI into their marketing efforts.

• Pearson Correlation: This is a statistical measure used to assess how much two variables
change together.
• In this case, the correlation coefficient is 0.581.
• Sig. (2-tailed): This refers to the significance level, which is a measure of how likely it is that
the observed correlation is due to chance. A value less than 0.05 is generally considered
statistically significant.
• In this case, the significance level is less than 0.001, which means the correlation is
statistically significant.
• N: This refers to the sample size, which is 32 in this case.

Interpretation:

• There is a positive correlation between perceived contribution of AI-driven personalized

marketing to increased customer satisfaction and observed changes in consumer
engagement since incorporating AI in marketing efforts.
• The Pearson correlation coefficient between these two variables is 0.581 and is statistically
significant at the 0.01 level (2-tailed).
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 • This indicates a moderately strong positive correlation.
• That implies that marketers who believe AI-driven personalized marketing leads to more
satisfied customers are also more likely to report observing positive changes in consumer
engagement after incorporating AI in their marketing efforts.

Bar graph and trend line based on the correlation

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No. of reponses

10
8
6
4
2
0
-2 Frequently Occasionally Rarely Never
Likert scale

Series1 Series2 Linear (Series1) Linear (Series2)

RED : Increase in consumer engagement

(Question taken from questionnaire: Have you observed any changes in consumer engagement
since incorporating AI in your marketing efforts?)

BLUE: Al-driven personalized marketing incorporated in the organization

(Question taken from questionnaire: To what extent do you believe Al-driven personalized
marketing contributes to increased customer satisfaction?)

Based on our primary hypothesis, we've established RED as the dependent variable and BLUE as
the independent variable. Our analysis, depicted graphically, reveals a clear trend: as the utilization
of AI-driven personalized marketing rises, so does customer satisfaction, consequently leading to
increased consumer engagement.

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Respondents that implement AI with personalized marketing strategies report a corresponding rise
in consumer engagement levels. Conversely, those who do not employ AI in their personalized
marketing efforts do not observe such enhancements in consumer engagement.
The trend line further depicts the direct correlation between the adoption of AI-driven personalized
marketing approaches and heightened consumer engagement.

Hypothesis B:

(H0): Personalized marketing strategies within the metaverse will not lead to a higher conversion
rate and increased customer satisfaction.

(H1): Personalized marketing strategies within the metaverse will lead to a higher conversion rate
and increased customer satisfaction.

Analysis:

The graph shows the extent to which the metaverse has been utilized in marketing strategies.
The x-axis represents the level of utilization, with 1 being the lowest and 5 being the highest. The y-
axis shows the number of responses for each level. Overall, the graph reveals that the majority of
respondents (50%) have incorporated the metaverse to a significant extent (levels 4 and 5) in their
marketing strategies, while a smaller portion (25%) has not utilized it at all (level 1).

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The above graph shows to what extent AI-driven personalized marketing contributes to increased
customer satisfaction.. The responses are on a scale from 1 to 5, where 1 likely represents "not at all"
and 5 represents "to a great extent".
The majority of respondents, 22 out of 32 (68.8%), selected option 4, indicating that they believe AI-
driven personalized marketing contributes significantly to increased customer satisfaction.

• The correlation coefficient is 0.763 and is statistically significant at the 0.01 level (2-tailed).
• This means that there is a positive correlation between the two variables.
• Implying that, companies that reported incorporating AI in their marketing efforts are also
more likely to utilize metaverse in their marketing strategies which has a correlation with
increase in their consumer engagement.
• Overall, the data suggests that there is a positive correlation between incorporating AI and
utilizing the metaverse in marketing strategies to increase consumer engagement.

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Bar graph and trend line based on the correlation

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No. of responses

10
8
6
4
2
0
-2 Fully Partially Moderately No
Likert scale

Series1 Series2 Linear (Series1) Linear (Series2)

RED : Increase in consumer engagement

(Question taken from questionnaire: Have you observed any changes in consumer engagement since
incorporating AI in your marketing efforts?)

BLUE: Extent metaverse is being utilized in marketing strategies

(Question taken from questionnaire: To what extent has the metaverse been utilized in your
marketing strategies?)

Based on Hypothesis B, we've designated RED as the dependent variable and BLUE as the
independent variable. Our analysis, portrayed graphically, illustrates a trend that is an increase in the
adoption of the metaverse for marketing initiatives corresponds with an increase in consumer
engagement among respondents.
Examining the data, it's evident that respondents who fully integrate the metaverse into their
marketing strategies experience a substantial boost in consumer engagement. Conversely, those who
opt out of incorporating the metaverse in their marketing strategies report no discernible change in
consumer engagement levels.
Furthermore, the trend line depicts a direct correlation between the integration of the metaverse into
marketing strategies and heightened consumer engagement.

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Hypothesis C:
(H0): Ethical considerations and user privacy concerns may not pose challenges to the widespread
adoption of metaverse and AI in marketing.

(H1): Ethical considerations and user privacy concerns may pose challenges to the widespread
adoption of metaverse and AI in marketing.

Analysis:

The pie chart displays the responses to the question asking if respondents have encountered any
ethical considerations or user privacy concerns related to the use of the metaverse in marketing.
The largest portion, 46.9%, indicates that respondents "Occasionally" encountered such concerns.
Overall, the chart suggests that while a significant portion encountered these issues at least
occasionally, the majority found them to be rare or non-existent in their experience with metaverse
marketing.

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The above bar graph shows that the most widely adopted method to ensure transparency and ethical
use of AI in their marketing practices within the metaverse is "Strict Compliance with Ethical
Guidelines," with 71.9% of respondents indicating they follow this approach. This suggests that
adhering to established ethical guidelines is crucial for ensuring transparency and responsible AI use
in metaverse marketing. The second most popular method, selected by 68.8% of respondents, is
regular audits to monitor ethical implications. However, only 43.8% have employee training
programs, which could help maintain ethical standards in metaverse marketing efforts.

The chart presents the main challenges faced when implementing AI technologies in marketing. Data
Privacy Concerns (68.8%) and Lack of Expertise (50%) emerge as the top two challenges, suggesting
organizations struggle with ensuring data privacy compliance and having sufficient AI expertise.
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• In this case, the correlation coefficient is 0.451 and is statistically significant at the 0.01 level
(2-tailed).
• This means that there is a positive correlation between the two variables.
• Implying that, companies that reported incorporating AI in their marketing efforts are also
more likely to report encountering ethical considerations or user privacy concerns related to
the use of the metaverse in marketing.
• Overall, the data suggests that there is a positive correlation between incorporating AI and
encountering ethical considerations or user privacy concerns related to the use of the
metaverse in marketing.

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Line graph and trend line based on the correlation

ORANGE : Increase in consumer engagement through the use of AI

(Question taken from questionnaire: Have you observed any changes in consumer engagement since
incorporating AI in your marketing efforts?)

BLUE: Ethical issues and user privacy concerns related to the use of the metaverse in marketing
(Question taken from questionnaire: Have you encountered any ethical considerations or user privacy
concerns related to the use of the metaverse in marketing?)

Based on Hypothesis C, ORANGE is taken as the dependent variable and BLUE as the independent
variable.
The graph demonstrates a clear trend that is, as the integration of AI for consumer engagement
increases, so do ethical considerations and concerns regarding user privacy.
Remarkably, respondents who refrain from utilizing AI for marketing or consumer engagement
typically encounter fewer ethical considerations and user privacy concerns. Conversely, those
employing AI in these domains encounter notable ethical and privacy issues.
This depicts a direct correlation between utilizing AI for marketing or consumer engagement and
user privacy concerns.

Moreover, the graph also illustrates that, higher levels of consumer engagement correlates with lower
levels of user privacy concerns.
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The lesser the privacy concerns the more the engagement and vice versa
This observation suggests an indirect correlation between heightened ethical considerations, user
privacy concerns, and consumer engagement, emphasizing the delicate balance required in
leveraging AI for marketing and consumer engagement strategies.

SECONDARY DATA ANALYSIS

WHY SECONDARY DATA:

Secondary data is crucial despite the availability of primary data for various reason such as it
provides additional perspectives and context to primary data, enriching the analysis and
understanding of a subject and since we have very limited responses it is crucial to analyze secondary
data to support the primary data.
Overall, the integration of secondary data complements and strengthens the research process,
contributing to more comprehensive and nuanced interpretations of the study.

THEORITICAL MODEL:
Key concepts:
Our research is primarily focusing following factors of the hypothesis:
1. Brand loyalty and brand satisfaction
2. Consumer behavior preference and trends
3. Conversion rate and customer satisfaction
4. Ethical considerations

Evaluation and explanation of theories:

1. Consumers, seeking pleasure and enjoyment, engage in various virtual experiences, making
the Metaverse a destination for leisure and recreation, ultimately enhancing customer
satisfaction and loyalty (Dwivedi et al., 2022; Park & Kim, 2022).
AI’s predictive analytics improves marketing performance by enabling accurate forecasting
and resource optimization. AI's role in automating tasks is valued for freeing up time for
strategic and creative decision-making (Noranee & Othman, 2023).

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 2. Influencer promotes branded content to their followers and the brand’s target consumers
(Simon Fauser,2023). According to Miao et al. (2022), there are four categories of avatars.
Companies must be aware of what kind of avatar best suits their product. It is not always the
best solution to go with the most famous virtual influencer, as it affects the consumers’ trust
and experience. (Simon Fauser,2023)

3. Gucci is increasing its sales path through virtual technology applications. Gucci leverages
virtual technology for sales growth, introducing AR features for trying on sneakers in its app
and collaborating with Snapchat. The brand innovates with the Gucci Sneaker Garage,
unveiling the first virtual sneaker, Gucci Virtual 25. The Author(s) 2023 H. Mallick et al.
(Eds.): ICEMCI 2022.

4. To ensure ethical marketing practices in the metaverse, consumers should be cautious about
privacy and manipulation risks. Businesses must prioritize transparency, honesty, and respect
for privacy, emphasizing the need for ethical guidelines to protect consumers and promote
responsible practices (Cheah & Shimul, 2023).

How theories will be helping in our research:

Helps in Identifying new perspectives and also helps in identifying gaps that exist in the literature
Resolve conflicts amongst seemingly contradictory previous studies. Identifies areas of prior
scholarship to prevent duplication of effort.

INTERVIEW ANALYSIS:
We have interviewed two business owners and analyzed the data.
1. What components are necessary to integrate AI into marketing?
The respondents stated that competitive pressure is the main factor influencing the use of AI in
marketing. Competitors are pressuring many companies to include AI into their marketing plans.
Respondent 1 said, "There is a sense of urgency among competitive organisations to integrate AI
into the marketing process."
Respondent 2 has reported that the management of the organization has started to advocate for the
integration of AI in marketing, citing factors such as media attention, competitive pressure, and
digital maturity as justifications for their actions.

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2. What are the primary benefits of integrating metaverse into marketing?
The benefits of integrating metaverse into marketing were addressed by respondents in a number of
ways. It is now evident that metaverse helped the business improve its marketing procedures.
Respondent 1 said that metaverse into marketing operations will help the business increase efficiency
and save time in the marketing functions and also provide insights in marketing decisions as benefits
of metaverse integration.

Respondent 2 stated that our company will benefit from higher conversion rates, a greater
understanding of customer data, and the capacity to make more intelligent marketing decisions after
using metaverse based softwares. Above all, it contributed to increasing the return on investment and
also provides insights in marketing decisions.

3. What are the primary barriers to using metaverse in marketing?

Respondent 1 stated that the company worked on making it easy to interface their system with
popular CRM systems in order to resolve the compatibility issue. We still have a lot of issues with
it, despite the organization's ongoing efforts to streamline the procedure.
Respondent 2 claims that complicated technology systems and software are also a major barrier.
Consequently, organizations must prioritize addressing compatibility issues.
Four respondents stated that a team's lack of technical skills is the biggest problem for overall
marketing operations after AI integration.

4. What moral ramifications result from using metaverse and AI in marketing?

The respondents stated that the most crucial ethical consideration while working with clients is data.
Respondent 1 claims that the company gathers data anonymously—that is, it isn't connected to the
users who generate it—in order to address this issue and also states that providing a little amount of
personal information is their primary objective.
Respondent 2 talked about two different ways that artificial intelligence in marketing could have
ethical concerns. She thinks that ethical issues should be looked at because they are so important, but
businesses don't seem to take them into account when they plan to deploy knowledge-driven AI
software. One of the most important aspects of ethics is the usage of data in marketing environments.

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5. What part does AI play in the marketing operations of your business?
The respondents stated that AI has increased the efficacy of marketing functions and is currently
used in almost all significant marketing operations. They claim that AI helps in the creation of
marketing and sales plans that significantly improve business performance.
Respondent 1 claims that artificial intelligence is used for all marketing-related functions, such as
pricing, promotion, distribution, and product planning and development.
Respondent 2 states that the majority of applications of AI are found in digital platforms, advertising,
and customer relationship management.Respondent 5 states that artificial intelligence (AI) is widely
used in digital marketing, including chatbots, web design, email marketing, digital advertising, and
content curation.

6. What is the pre-AI and post-AI marketing strategy of your company?

The dynamics of the entire firm are, in reality, changed by the use of AI in marketing. It also has an
impact on the business's strategies. Prior to using AI in marketing, Respondent 1 claims that the
emphasis was on growing product offers and allocating more resources to marketing.
After artificial intelligence gained traction, marketing managers found that business intelligence gave
them a deeper understanding of patterns in sales, marketing, and operations. To predict future
strategies, they built predictive models using the data. The company's marketing approach has been
revolutionized, according to respondent 2 Since providing excellent customer service was the
company's top goal and strategies for doing so had been created, they made the decision to invest in
AI in this area.

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CONCEPTUAL FRAMEWORK:
This is the framework after we have done the primary and secondary analysis

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NAME
Ananya Palakkeel (2221416)
Bopanna Sanjana (2221419)
CONTRIBUTION
1. “The evolving role of artificial
intelligence in marketing: A review
and research agenda”
2. “Development and Transformation in
Digital Marketing and Branding with
Artificial Intelligence and Digital
Technologies Dynamics in the
Metaverse Universe”
3. “Revamping the Marketing World
with Metaverse -The Future of
Marketing”
4. “Marketing Gamification in Metaverse
Web 3.0 with Artificial Intelligence
(AI)”
5. “Digital Transformation 4.0:
Integration of Artificial Intelligence &
Metaverse in Marketing”
1. “Virtual Influencer Marketing and its
impact on customer purchase
Behaviour”
2. “Metaverse and Brand: A Study of
Luxury Brand Digital Marketing
Strategy - Taking Gucci as An
Example”
3. “Impact of AI and robotics in the
tourism sector: a critical insight”
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 4. “ChatGPT's influence on customer
experience in digital marketing:
Investigating the moderating roles”
5. “Understanding Consumer
Sentiments: Exploring the Role of
Artificial Intelligence in Marketing”

Shreya Namana (2221428) 1. “AI versus Human: Rethinking the

Role of Agent Knowledge in
Consumers’ Coping Mechanism
Related to Influencer Marketing”
2. “Metaverse in marketing and logistics:
the state of the art and the path
forward”
3. “Marketing in the metaverse: Moving
forward – What’s next?”
4. “Metaverse in services marketing: an
overview and future research
directions”
5. “Collaborative Driving Mode of
Sustainable Marketing and Supply
Chain Management Supported by
Metaverse Technology”

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Rayudu Srinija (2221436) 1. “Understanding Consumer
Sentiments: Exploring the Role of
Artificial Intelligence in Marketing”
2. “The Role of Artificial Intelligence in
Marketing Analytics”
3. “Role of Artificial Intelligence and
Business Decision Making”
4. “AI-Based Sales Forecasting Model
for Digital Marketing”
5. “AI-powered Digital Transformation:
Tools, Benefits and Challenges for
Marketers – Case Study of LPP”

Riya Rao (2221460) 1. “Metaverse marketing: How the

metaverse will shape the future of
consumer research and practice”
2. “Observation and Speculation of New
Internet Marketing”
3. “Virtual Influencer Marketing and its
impact on customer purchase
Behaviour”
4. “Transformation of Marketing
Decisions through Artificial
Intelligence and Digital Marketing”
5. “Artificial intelligence (AI)
applications for marketing: A
literature-based study”

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