Examining the Smart Marketing Model with a Focus on Artificial Intelligence in the Banking Industry

Abstract

This study employs an interpretive research approach based on grounded theory. The research method utilized is descriptive-survey, and in terms of its purpose, the present research is developmental-applied. Given the qualitative nature of the study, credibility was assessed and confirmed using indices of relevance and applicability. Sampling in this study was conducted using the snowball method. The research population consisted of university professors, managers, and experts in the banking industry, and the sample size was determined based on the principle of theoretical saturation. Ultimately, data collection was completed through semi-structured interviews with 17 participants. The results indicated that causal factors, including artificial intelligence and emerging technologies, customer needs and expectations, advancements in information and communication technology, competition in the banking industry, and changes in consumer behavior, serve as the primary drivers of smart marketing. Contextual factors, including the competitive environment of the banking industry, regulatory frameworks and policies, the vast volume of data, and organizational culture, create the necessary conditions for implementing this model. Meanwhile, intervening factors such as information technology infrastructure, organizational support and investment in technology, and legal and ethical constraints act as either barriers or facilitators in implementing the smart marketing model. The central phenomenon of this model is smart marketing in the banking industry, pursued through strategies such as implementing artificial intelligence systems, forecasting market trends, automating marketing processes, and developing customer-centric services. Ultimately, these actions lead to outcomes such as increased customer satisfaction, improved financial performance, enhanced customer experience, targeted marketing, and risk and security management. This model represents a dynamic and interconnected cycle in which each component contributes to the successful realization of smart marketing in banks.