Title: AI, Innovation and Global Transformation: Interdisciplinary Perspectives on Technology, Business and Society
Editors: Dr. J. Preetha, and Dr. Siddhartha Mehrotra
ISBN: 978-81-69857-64-2
Chapter: 17
DOI: https://doi.org/10.59646/809/17
Authors: Ms. Siddhi Sunil Koli, and Dr. Abida Muntajar Khan
Abstract
Artificial Intelligence (AI) is changing the way businesses work in marketing, finance, and digital commerce. This chapter looks at how AI has developed over time — starting from simple rule-based computer systems in the 1980s, moving through the growth of big data and machine learning in the 2000s and 2010s, and finally reaching today’s generative AI and large language models like ChatGPT. It then explains how AI is used in different areas of business, such as customer service, human resources, supply chain management, and cybersecurity, before focusing specifically on marketing, finance, and digital commerce. In marketing, the chapter shows how AI helps businesses understand customer preferences, create personalized ads, divide customers into groups, and automate marketing campaigns. In finance, AI is used to detect fraud, check credit scores, manage risks, predict financial trends, and even handle trading and investments. In digital commerce, AI improves online shopping through personalized product suggestions, smart search options, flexible pricing, demand prediction, and secure payment systems. The main idea of the chapter is that AI becomes even more powerful when these three areas work together. For example, customer data collected through marketing can help assess financial risk, and data used to catch fraud can also help predict product demand. This shows that AI is not just a set of separate tools — it works best when information flows freely between marketing, finance, and commerce, creating one connected and intelligent business system. Finally, the chapter discusses important challenges that come with using AI, such as data privacy, unfair bias in algorithms, cybersecurity risks, and the need for clear and responsible AI practices. It concludes that businesses must balance the benefits of AI with ethical and responsible use to build trust with customers. Overall, this chapter gives students and researchers a clear and simple understanding of how AI is transforming marketing, finance, and digital commerce today.
Keywords: Artificial Intelligence, Marketing, Finance, Digital Commerce, Personalization, Fraud Detection, Business Automation