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Artificial Intelligence, Consumers, and the Experience Economy
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Author(s): Hannah H. Chang (Singapore Management University, Singapore)and Anirban Mukherjee (Cornell University, USA)
Copyright: 2023
Pages: 12
Source title:
Encyclopedia of Data Science and Machine Learning
Source Author(s)/Editor(s): John Wang (Montclair State University, USA)
DOI: 10.4018/978-1-7998-9220-5.ch033
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Abstract
A fundamental challenge for businesses catering to the modern experience economy is to understand what consumers want in experiential products and services. The article discusses the nascent knowledge base on artificial intelligence (AI) and consumers in the context of experiential products and the emerging experience economy, which are key applications for marketing practice. Furthermore, it draws upon the formal academic literature and leading practitioner press to synthesize empirical evidence, with suggestions and recommendations for marketing practitioners and policymakers tasked with driving the deployment and success of AI in the experience economy.
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