The Economics of Artificial Intelligence: A Marketing Perspective

Abstract

This article reviews the quantitative marketing literature on artificial intelligence (AI) through an economics lens. We apply the framework in Prediction Machines: The Simple Economics of Artificial Intelligence to systematically categorize 96 research papers on AI in marketing academia into five levels of impact, which are prediction, decision, tool, strategy, and society. For each paper, we further identify each individual component of a task, the research question, the AI model used, and the broad decision type. Overall, we find there are fewer marketing papers focusing on strategy and society, and accordingly, we discuss future research opportunities in those areas.

Citation

Ding, M.(. and Goldfarb, A. (2023), "The Economics of Artificial Intelligence: A Marketing Perspective", Sudhir, K. and Toubia, O. (Ed.) Artificial Intelligence in Marketing (Review of Marketing Research, Vol. 20), Emerald Publishing Limited, Leeds, pp. 13-76. https://doi.org/10.1108/S1548-643520230000020002