Artificial Intelligence at the Helm: Steering the Modern Business Landscape Toward Progress

Artificial Intelligence In Business

Both large and small organizations quickly see the need of using AI to fulfil their current and long-term goals. The integration of AI in business has the capacity to fundamentally transform infrastructure.

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  AI has the ability to automate various operational tasks, thereby allowing corporate executives to focus on more intricate business challenges and decision-making processes.

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  AI technology is capable of performing tasks like data analysis, which would typically take human workers several hours to complete, in a matter of seconds. This not only helps organizations save significantly on salaries but also leads to increased revenue.

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  It is a reality that humans are prone to making mistakes. Individuals must consider the surrounding conditions and understand complex situations, but data science thrives on reduced inaccuracies, leading to more precise estimations and data analysis.

Despite increased interest, Teoh, T.T., & Goh, Y.J. (2023) say integrating AI into organizations remains difficult. Recent studies show that up to 85% of AI systems fail to achieve their aims. Effective AI application research is scarce, which might help organizations starting AI projects. This study aims to improve corporate management by understanding AI technology, individuals, and processes. This study examines Taobao's e-commerce fulfillment center's resource orchestration approach and AI application for business management (AL-MAHAIRAH, M. S., MANOHARAN, G., et al., 2022). Results indicate that data, AI algorithms, and robotics are AI's major assets. Use and apply these resources and ensure their coordination with other relevant resources, such as storage facilities and current information systems, to build major AI capabilities. Knowledge acquisition, strategic decision-making, and anticipatory analysis are AI's key functions. AI's ability to improve effectiveness (e.g., labor productivity and space utilization), efficacy (e.g., advanced data analytics), and learning and training efficiency determines its worth to enterprises. The talk also covers how AI's social impacts affect corporate management.