Artificial Intelligence (AI) Branding in Educational Services Sector - Examining the Determinants of Brand Equity amongst Gen Z
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Abstract
The VUCA (volatility, uncertainty, complexity and ambiguity) of the present world we live in has brought in developmental transformations at the wake of the fourth industrial revolution. Disruption is the new form of transformation, especially with the advent of Artificial Intelligence (AI). The simulation of the complex human intelligence activities by man-made and controlled machines to bring in disruption is commonly referred to as Artificial Intelligence (AI). With a leap forward, in this era of digitalisation, it has its clutch at every major industry around the world. The Educational Services sector is where Artificial Intelligence (AI) has assured to make big innovative disruptions.
This purpose of the paper is to examine the determinants of Brand Equity amongst Gen Z while using Artificial Intelligence (AI) Branding techniques in the Educational Services Sector. Primary data was collected from 102 respondents using convenience sampling. A 5 point Likert scale survey was administered with 24 statements to capture the Generation Z's opinions on Artificial Intelligence (AI) branding in the Educational Services sector based on various brand equity parameters: brand image, brand loyalty, brand equity, and brand awareness.
Principal Component Analysis (PCA) was performed to identify the underlying determinants associated with the 24 items in the survey. Cronbach's alpha was used to evaluate the data's reliability. The Kaiser-Meyer-Olkin Measures of sampling adequacy and Bartlett's tests of Sphericity were used to see whether the data was suitable for structure detection. The paper identifies five potential factors: distinction amongst competitors, increased brand equity, knowledge of AI branding causing a change in the advertising industry, brand features, and increased credibility, are deemed the most important underlying dimensions in assessing the benefits of brand recognition having a significant influence on brand equity amongst Gen Z.
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