Generative-AI: Guarantees, Risks, Ethical Issues, Inclusiveness, and Regulatory Compliance in Marketing

ABSTRACT: The transformational experienced in 21st century business world is credited to the shift in technological innovations geared towards solving business challenges. A significant innovation that has significantly impacted with myriads of opportunities in marketing the advent of the Generative AI (Gen-AI) innovation. These benefits are not without deep concerns on potential risk, considerations for ethical standards, obstacles to diversity/equity, and overall regulatory compliance. The purpose of this research is to examine the transformative impact of Gen-AI on these challenges. Previous studies have shown significant gap between 'firms’ willingness to implement enduring AI framework. Acknowledging that this area of study is still in its nascent stages, the methodology adopted was a comprehensive review of literature, insights from industry experts, and information obtained from social networks. The theoretical basis of the study was the Technology Acceptance Model - TAM. The authors have also developed the GREIR framework (Guarantees, Risk, Ethics, Inclusiveness, and Regulatory compliance) as a unique process through which customers, organizations, and society could sustainably benefit from Gen-AI. This framework notably considers inclusivity for the first time in Gen-AI marketing literature, thus creating valuable avenues for future research. KEYWORDS: Gen-AI, Inclusiveness, Regulatory implications, Potential risks, Ethical marketing standards.