Articles | Open Access | DOI: https://doi.org/10.37547/tajet/Volume06Issue08-09

INTEGRATING AI AND GENAI INTO THE GROWTH AND DEVELOPMENT STRATEGIES OF B2C COMPANIES

Valeriia Usmanova , Senior engagement manager San Francisco, California

Abstract

This study examines the integration of AI and GenAI in B2C companies' growth strategies, addressing the transformative impact on business processes and customer interactions. Utilizing a comprehensive analysis of McKinsey reports and current research, the paper develops a strategic framework for AI integration in B2C sectors. The research reveals a significant increase in AI adoption, with 72% of organizations implementing AI technologies. The study outlines key areas of transformation, including hyper-personalization of customer experiences, operational efficiency optimization, and acceleration of innovation cycles. A novel strategic framework is proposed, encompassing readiness assessment, roadmap development, and risk management strategies. The findings highlight the critical importance of ethical considerations and organizational culture transformation in successful AI integration. This research contributes to the understanding of AI-driven strategies in B2C, offering insights into long-term economic effects, consumer behavior changes, and regulatory implications of AI adoption in the digital economy era.

Keywords

artificial intelligence, generative AI, B2C strategy, business transformation

References

The state of AI in early 2024: Gen AI adoption spikes and starts to generate value. URL: https://www.mckinsey.com/capabilities/quantumblack/our-insights/the-state-of-ai

The state of AI in 2023: Generative AI’s breakout year. URL: https://www.mckinsey.com/capabilities/quantumblack/our-insights/the-state-of-ai-in-2023-generative-ais-breakout-year

What is generative AI?. URL: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-generative-ai

Davenport, T. H., & Ronanki, R. (2018). Artificial intelligence for the real world. Harvard business review, 96(1), 108-116.

Kaplan, A., & Haenlein, M. (2019). Siri, Siri, in my hand: Who’s the fairest in the land? On the interpretations, illustrations, and implications of artificial intelligence. Business horizons, 62(1), 15-25.

Brock, J. K. U., & Von Wangenheim, F. (2019). Demystifying AI: What digital transformation leaders can teach you about realistic artificial intelligence. California management review, 61(4), 110-134.

Brynjolfsson, E., & Mcafee, A. N. D. R. E. W. (2017). Artificial intelligence, for real. Harvard business review, 1, 1-31.

Huang, M. H., & Rust, R. T. (2021). A strategic framework for artificial intelligence in marketing. Journal of the Academy of Marketing Science, 49, 30-50.

Fountaine, T., McCarthy, B., & Saleh, T. (2019). Building the AI-powered organization. Harvard Business Review, 97(4), 62-73.

Duan, Y., Edwards, J. S., & Dwivedi, Y. K. (2019). Artificial intelligence for decision making in the era of Big Data–evolution, challenges and research agenda. International journal of information management, 48, 63-71.

LLM to ROI: How to scale gen AI in retail //McKinsey. URL: https://www.mckinsey.com/industries/retail/our-insights/llm-to-roi-how-to-scale-gen-ai-in-retail

AI-powered marketing and sales reach new heights with generative AI //McKinsey. URL: https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/ai-powered-marketing-and-sales-reach-new-heights-with-generative-ai

Exploring opportunities in the generative AI value chain //McKinsey. URL: https://www.mckinsey.com/capabilities/quantumblack/our-insights/exploring-opportunities-in-the-generative-ai-value-chain

Embracing generative AI in credit risk //McKinsey. URL: https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/embracing-generative-ai-in-credit-risk

The data dividend: Fueling generative AI //McKinsey. URL: https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/the-data-dividend-fueling-generative-ai

Lamarre E., Smaje K., Zemmel R. Rewired: the McKinsey Guide to Outcompeting in the Age of Digital and AI. – John Wiley & Sons, 2023.

Article Statistics

Copyright License

Download Citations

How to Cite

Valeriia Usmanova. (2024). INTEGRATING AI AND GENAI INTO THE GROWTH AND DEVELOPMENT STRATEGIES OF B2C COMPANIES. The American Journal of Engineering and Technology, 6(08), 73–83. https://doi.org/10.37547/tajet/Volume06Issue08-09