In the next instalment of our Pearson author insights series on the impacts of AI, marketing authors Gary Armstrong and Sridhar Balasubramanian share their thoughts.
As we navigate the rapid evolution of artificial intelligence (AI) technology and its integration into our work and life, we’re seeking insights from the experts. In our blog series, “Navigating the Future: Author Insights on AI in the Workforce, Society, and Education” Pearson’s authors share their thoughts on the impacts of AI on their fields of study, society, education, and the workforce more broadly.
Over to Gary Armstrong and Sridhar Balasubramanian, co-authors of Principles of Marketing and Marketing: An Introduction:
1. What is a key impact of AI in your field today? How do you see this impact affecting society more broadly?
AI is revolutionizing almost every area of marketing. It allows what some have called ‘speed to insight’ and we’ll explain briefly what that means. Data is essential to gaining market insights. But making sense of all that data presents a huge challenge to marketers. AI can now gather and analyze huge data sets very quickly. For example, it could take weeks to develop a sophisticated customer prototype. With AI, this process can now happen within minutes or hours. With everything moving so fast, this ‘speed to insight’ is a competitive necessity for most brands.
AI can also develop new product concepts, or create compelling, high-quality, original marketing content at a fraction of the time and cost.
Now you might worry that all this means AI will take your job. For some jobs, that might be true. But despite its benefits, AI will never completely replace human planning and thinking. Marketers must assess what AI produces and make good decisions based on selected insights. They must also discern when AI has got it plain wrong. But when properly used, AI can inspire and enhance human creativity and critical thinking. It is now integral to the future of marketing decision making.
2. How are you educating students on these impacts? What are the concepts or skills you’re focusing on in your teaching to bring AI’s impact to life in context?
Both our textbooks embrace the revolutions in technology and AI, because we recognize that they will impact every aspect of marketing at every company. We discuss these topics in every chapter, from new product development and pricing to marketing research and customer behavior, and marketing content creation and communications. We look at real-life examples of how we would apply technology and AI to these processes.
Beyond helping students understand how AI is used in marketing, we encourage them to get hands-on experience using it. We’re all still learning about it, but it’s here to stay. We need to dig in and understand its promises and challenges.
3. As marketing students graduate and enter the workforce, what are the three most important things they should take away from the rapid evolution of AI?
First, don’t fear AI. Sometimes, students worry about whether AI will prove to be much “smarter” than they are, doing things better and potentially making their talents redundant. Instead, embrace the notion that using AI is easy, and can help make you a better employee, manager, and leader.
Second, make AI your new best friend. You have to jump in and start using it. The more you use it, the better you get at making it work well for you. Learn how to ask the right questions in the right sequence to get the best results.
Lastly, AI is not a magical solution. It’s not infallible. It makes mistakes. Don’t let it run your thinking or your work. Rely on your own intelligence, knowledge, and skills to help AI help you do better.
4. How is AI technology changing how students engage in learning? What changes have you already observed in your students?
It’s easy for students to use AI to get sophisticated answers to questions. That’s why some professors are tempted to impose restrictions on students using AI for assignments. But that’s like telling a car driver not to use GPS because then they won’t know how to use paper maps.
Our notion is we should embrace it. Students will use AI in their job, so why deter them from using it in their learning? It’s up to professors to design assignments where students can engage in rich learning while using AI. It’s up to students to learn how to ask AI the right questions, and then use their own critical and analytical skills to evaluate its outputs.
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Author bios
Gary Armstrong is Professor Emeritus of Marketing at the University of North Carolina at Chapel Hill’s Kenan-Flagler Business School. He has received the UNC Board of Governors Award for Excellence in Teaching, the highest teaching honor bestowed by the 16-campus University of North Carolina system.
Sridhar Balasubramanian is a Professor of Marketing at the University of North Carolina at Chapel Hill's Kenan-Flagler Business School. Sridhar is a pioneering researcher in the areas of marketing and innovation in technology-intensive environments.
Gary and Sridhar are co-authors, with Philip Kotler, of Principles of Marketing and Marketing: An Introduction, both published by Pearson. These are among the world’s largest selling marketing textbooks.