The advantages of sentiment analysis driven by artificial intelligence (AI)

Baltezarević, Radoslav and Baltezarević, Ivana (2024) The advantages of sentiment analysis driven by artificial intelligence (AI). In: 4th International Cankaya Scientific Studies Congress. IKSAD Publications, pp. 653-661. ISBN 978-625-8254-58-7

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Abstract

Sentiment analysis is the process of determining the opinion, judgment, or emotion expressed in natural language. This analysis is an effective method for evaluating written or spoken language to identify whether it is positive, negative, or neutral, and to what extent. These days, electronic word-of-mouth, or eWOM, is a common way for customers to publicly share their thoughts about products and services on websites (that provide reviews), social media, and forums. Negative customer sentiment toward a brand or company in the digital sphere can generally have detrimental effects on business. Therefore, in order to solve issues and please customers, it's critical for companies to take specific actions that align with the insights gleaned from sentiment analysis. The development of artificial intelligence (AI) has significantly improved sentiment analysis and it is increasingly becoming an integral part of digital marketing, which can be used to gather information about consumer sentiment towards a brand in a digital environment, on the basis of which strategies can be optimized. However, because artificial intelligence is still a relatively new technology, it struggles to understand texts that contain emojis, photos, hashtags, or other common slang, irony or sarcastic statements used by users in digital environment. Because of these ongoing challenges, AI is yet unable to provide results from sentiment analysis that are accurate enough. However, it won't be long until these techniques improve even further and, as a result, become a crucial part of digital marketing strategies.

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