The Multifaceted Implications of Generative Artificial Intelligence on Consumer Behaviour: A Conceptual Analysis
The Multifaceted Implications of Generative Artificial Intelligence on Consumer Behaviour: A Conceptual Analysis

Author(s): Dušan Mladenović
Subject(s): Economy, Supranational / Global Economy, Human Resources in Economy, ICT Information and Communications Technologies, Socio-Economic Research
Published by: Институт друштвених наука
Keywords: Generative AI; Consumer Behaviour; Personalized Shopping; Recommendation systems; Virtual Try-Ons; Custom Product Design; Data Privacy
Summary/Abstract: This conceptual paper investigates the dual facets of generative artificial intelligence (GAI) in influencing consumer behavior, supplemented by illustrative case studies. The study delves into how GAI revolutionizes personalized shopping through advanced recommendation systems, virtual try-ons, and bespoke product designs, enhancing consumer satisfaction and business efficiency. Moreover, it presents and discusses the most noteworthy opportunities and challenges. In doing so, it relies on domain literature and three case studies from a World-renowned brand. Conversely, the paper addresses significant concerns, including data privacy risks, algorithmic bias, and the diminishing role of human decision-making. By juxtaposing theoretical insights with practical examples, this paper provides a comprehensive analysis of GAI’s transformative potential and the ethical and practical challenges it poses.

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