The Impact of Artificial Intelligence on Online Consumer Behavior

Radouche Feriel (2023) The Impact of Artificial Intelligence on Online Consumer Behavior. Pénzügyi és Számviteli Kar.

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Absztrakt (kivonat)

The rise of artificial intelligence (AI) and its seamless integration into every aspect of daily life have been the defining feature of the past decades. Particularly, AI has strongly influenced the digital retail world by reshaping the dynamic of business-customer relationships and altering consumer behavior and purchasing habits online. Using quantitative research methods, by conducting a survey on 100 people and analyzing past studies surrounding the topic, the research aims to understand the impact of AI and its various subsets on online consumer behavior, as well as their sentiments and their reservations regarding this intelligence’s application.Thanks to its endless applications and processes, AI can analyze large data sets of consumer behavior and then predict what their next step is and go as far as influencing it. Several methods and sciences such as deep learning and natural language processing, can aid shopping platforms in offering customized and immersive online shopping experiences that alter the ways customers behave digitally. According to the research results, the e-commerce market has been growing impressively in the past few years and people are more enthusiastic and open to satisfying their needs through online shopping channels, which is ultimately thanks to the integration of AI and its applications into digital shopping platforms that allow customers to shop securely, at the convenience of their own homes and at any time of the day they want. Essentially, it is machine learning, through its predictive analysis algorithms that helps identify trends and patterns to create personalized recommendations and dynamic pricing strategies that adhere to the customer's needs. AI can also identify early signs of customers dissatisfaction and work on enhancing their user experience.Moreover, the research indicates that people are not only shopping online more regularly but they are also noticing the features integrated on digital shopping platforms that make up their shopping experience. They generally have a positive impression of theproducts recommended to them online and find it helpful in making their final purchasing decisions. Further, a majority of online shoppers have had a moderately satisfactory experience with chatbots and many of them hold a positive sentiment towards these emerging technologies, thus emphasizing its efficiency in helping them with their queries. However, despite its effectiveness, a majority of them are skeptical about chatbots eventually replacing human agents in the customer support sector and are concerned that the technology has limited adaptability and empathy compared to humans. Further, the research revealed that the majority of e-commerce enthusiasts have used extended reality tools such as augmented or virtual reality applications and are very receptive to these technological advancements, especially younger generations such as generation Z or millennials. In addition, allowing customers to virtually try on products and services before purchasing them results in increased engagement with the brand, higher satisfaction and conversion rates and lower return rates. Nevertheless, despite customers generally appreciating all the benefits that come with integrating AI and its tools into digital shopping platforms, they still hold some reservations and skepticism over its use of data for predictive purposes. The research reveals that customers have growing privacy concerns and are generally uncomfortable with AI analyzing their online behavior. They are also unlikely to share personal information in exchange for a more personalized shopping experience, despite some people who are willing to, if it prompts monetary benefits.These findings, along with results from previous research prove that AI directly and indirectly affects and manipulates the behavior of the customers online and alters their purchasing habits through various channels and despite its seamless integration into most shopping applications and platforms, the privacy concerns are growing day by day and they are pushing the customers to reconsider their buying habits. Additionally, there are other ethical considerations tied to this intelligence that could influence the digital purchasing habits such as the lack of autonomy and the lack of bias. Online retailers have to make sure that they are being transparent with their customers to gain their trust, and should use artificial intelligence as a catalyst to provide a better shopping experience for their clientele and not as the sole operator and the backbone of their businesses.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Pénzügyi és Számviteli Kar

Tanszék

Menedzsment Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Gazdálkodási és menedzsment

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	artifical intelligence, consumers' preferences, marketing, mesterséges intelligencia, quantitative research, vásárlói magatartás
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2024. Jún. 28. 10:33
Utolsó módosítás:	2024. Jún. 28. 10:33

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