EXAMINING THE IMPACT OF AI TECHNOLOGY ON MARKETING STRATEGIES IN FINANCIAL SERVICES
This article offers an examination of the transformative impact of artificial intelligence (AI) on marketing within the financial services sector, beginning with an exploration of the industry's evolution. As marketing strategies in financial services have shifted from traditional methods t...
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| Format: | Article |
| Language: | English |
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Academica Brâncuşi
2024-12-01
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| Series: | Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie |
| Subjects: | |
| Online Access: | https://www.utgjiu.ro/revista/ec/pdf/2024-06,%20Volumul%20II/15_PopescuJenica.pdf |
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| _version_ | 1841560678688620544 |
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| author | POPESCU JENICA SPULBAR LUCIAN FLORIN SMARANDESCU ANDREI |
| author_facet | POPESCU JENICA SPULBAR LUCIAN FLORIN SMARANDESCU ANDREI |
| author_sort | POPESCU JENICA |
| collection | DOAJ |
| description | This article offers an examination of the transformative impact of artificial intelligence (AI) on marketing within
the financial services sector, beginning with an exploration of the industry's evolution. As marketing strategies in
financial services have shifted from traditional methods to digital-first, data-driven approaches, AI has emerged as a
pivotal force driving efficiency, personalization, and customer engagement. The study delves into specific AI
applications, such as predictive analytics for understanding customer behavior, machine learning models for dynamic
customer segmentation, and automation tools that streamline targeted campaigns.
Through a series of case studies, the article showcases real-world examples of AI-driven marketing successes in
financial services, illustrating how companies are achieving enhanced customer satisfaction, increased operational
efficiency, and data-driven decision-making. Despite these benefits, the discussion also highlights the potential
drawbacks of AI adoption in this space, including ethical considerations, data privacy challenges, and the risk of over
reliance on automated systems that could lead to diminished human oversight. By addressing both the powerful
advantages and the inherent risks of AI in financial marketing, this article provides a balanced view of its role in
shaping the future of customer engagement and operational excellence in financial services. |
| format | Article |
| id | doaj-art-09fe5dde9dba44e5a9dc3c8c64afc2f9 |
| institution | Kabale University |
| issn | 1844-7007 2344-3685 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | Academica Brâncuşi |
| record_format | Article |
| series | Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie |
| spelling | doaj-art-09fe5dde9dba44e5a9dc3c8c64afc2f92025-01-03T15:42:59ZengAcademica BrâncuşiAnalele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie1844-70072344-36852024-12-0126127139EXAMINING THE IMPACT OF AI TECHNOLOGY ON MARKETING STRATEGIES IN FINANCIAL SERVICESPOPESCU JENICA 0SPULBAR LUCIAN FLORIN 1SMARANDESCU ANDREI 2PROFESSOR, PHD, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, UNIVERSITY OF CRAIOVA, ROMANIA MASTER’S DEGREE STUDENT, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, UNIVERSITY OF CRAIOVA, ROMANIA MASTER’S DEGREE STUDENT, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, UNIVERSITY OF CRAIOVA, ROMANIA This article offers an examination of the transformative impact of artificial intelligence (AI) on marketing within the financial services sector, beginning with an exploration of the industry's evolution. As marketing strategies in financial services have shifted from traditional methods to digital-first, data-driven approaches, AI has emerged as a pivotal force driving efficiency, personalization, and customer engagement. The study delves into specific AI applications, such as predictive analytics for understanding customer behavior, machine learning models for dynamic customer segmentation, and automation tools that streamline targeted campaigns. Through a series of case studies, the article showcases real-world examples of AI-driven marketing successes in financial services, illustrating how companies are achieving enhanced customer satisfaction, increased operational efficiency, and data-driven decision-making. Despite these benefits, the discussion also highlights the potential drawbacks of AI adoption in this space, including ethical considerations, data privacy challenges, and the risk of over reliance on automated systems that could lead to diminished human oversight. By addressing both the powerful advantages and the inherent risks of AI in financial marketing, this article provides a balanced view of its role in shaping the future of customer engagement and operational excellence in financial services.https://www.utgjiu.ro/revista/ec/pdf/2024-06,%20Volumul%20II/15_PopescuJenica.pdfartificial intelligence in marketingfinancial services innovationpredictive analyticscustomer engagementdata privacy in financial marketing. |
| spellingShingle | POPESCU JENICA SPULBAR LUCIAN FLORIN SMARANDESCU ANDREI EXAMINING THE IMPACT OF AI TECHNOLOGY ON MARKETING STRATEGIES IN FINANCIAL SERVICES Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie artificial intelligence in marketing financial services innovation predictive analytics customer engagement data privacy in financial marketing. |
| title | EXAMINING THE IMPACT OF AI TECHNOLOGY ON MARKETING STRATEGIES IN FINANCIAL SERVICES |
| title_full | EXAMINING THE IMPACT OF AI TECHNOLOGY ON MARKETING STRATEGIES IN FINANCIAL SERVICES |
| title_fullStr | EXAMINING THE IMPACT OF AI TECHNOLOGY ON MARKETING STRATEGIES IN FINANCIAL SERVICES |
| title_full_unstemmed | EXAMINING THE IMPACT OF AI TECHNOLOGY ON MARKETING STRATEGIES IN FINANCIAL SERVICES |
| title_short | EXAMINING THE IMPACT OF AI TECHNOLOGY ON MARKETING STRATEGIES IN FINANCIAL SERVICES |
| title_sort | examining the impact of ai technology on marketing strategies in financial services |
| topic | artificial intelligence in marketing financial services innovation predictive analytics customer engagement data privacy in financial marketing. |
| url | https://www.utgjiu.ro/revista/ec/pdf/2024-06,%20Volumul%20II/15_PopescuJenica.pdf |
| work_keys_str_mv | AT popescujenica examiningtheimpactofaitechnologyonmarketingstrategiesinfinancialservices AT spulbarlucianflorin examiningtheimpactofaitechnologyonmarketingstrategiesinfinancialservices AT smarandescuandrei examiningtheimpactofaitechnologyonmarketingstrategiesinfinancialservices |