Affiliation:
1. Chitkara University, Punjab, India
Abstract
The chapter provides an overview of the wide-ranging impact of artificial intelligence (AI) on commercial opportunities, emphasizing its various applications and ethical considerations. It discusses AI's role in enhancing industry efficiency, banking transactions, marketing, and beyond, while also addressing concerns such as bias, discrimination, and data protection. The chapter underscores the importance of AI ethics and the need for responsible development and usage, as highlighted by the implementation of AI codes of ethics by tech companies. It further explores major ethical issues related to autonomous AI systems, including machine bias, privacy concerns, and job displacement, particularly in the marketing industry. Additionally, it mentions the European Commission's efforts to establish ethical principles for trustworthy AI and the legal implications of AI marketing, such as data privacy and consumer protection laws. Finally, it suggests the role of government and regulators in setting AI marketing technology laws to ensure fair competition and market practices.