AI-Driven Consumer Insights in Business: A Systematic Review and Bibliometric Analysis of Opportunities and Challenges.

Albérico Travassos Rosário; Joana Carmo Dias

AI-Driven Consumer Insights in Business: A Systematic Review and Bibliometric Analysis of Opportunities and Challenges.

Albérico Travassos Rosário, Joana Carmo Dias

Abstract

Consumer insights driven by AI offer significant opportunities for businesses to deepen their understanding of and connect more effectively with their target audience. However, these prospects come with their own set of challenges. This paper explores the opportunities and challenges associated with implementing AI-driven consumer insights in business practices and how companies can overcome obstacles such as data privacy, bias, and integration to leverage these opportunities fully. Using a systematic literature review with bibliometric analysis, we examined a sample of 91 studies indexed in SCOPUS to identify research activity on this topic until April 2024. AI enables businesses to analyse vast consumer data for personalized experiences, predicting behaviour and trends. Real-time processing yields insights crucial for adapting to market changes, enhancing engagement, and boosting satisfaction. Automation saves time and resources, while segment identification tailors strategies. However, privacy concerns, bias mitigation, and integration challenges must be addressed. Trust and transparency are key to fully realizing AI's potential in consumer insights. This study delves into implementing AI-driven consumer insights in business practices, highlighting both the opportunities and challenges. Through a systematic literature review and bibliometric analysis, it identifies AI's benefits, such as personalized experiences and real-time processing, alongside critical concerns like data privacy and bias. The study emphasizes the importance of trust and transparency for fully realizing AI's potential in consumer insights, offering valuable insights for companies navigating this complex landscape.

DOI: https://doi.org/10.54663/2182-9306.2024.SpecialIssueMBP.6-35

Keywords

AI, Consumer insights, business practices Article type: literature review

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References

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