ARTIFICIAL INTELLIGENCE AND DIGITAL ECONOMY: CHALLENGES AND PROSPECT (original) (raw)

Innovative directions of digital business development using Artificial intelligence: foreign experience of fintech companies

AI-Driven Transformation: Mapping the Course for Future Business Landscapes: Monograph, 2024

AI-Driven Transformation: Mapping the Course for Future Business Landscapes is a comprehensive and interdisciplinary monograph that explores the current and future impacts of artificial intelligence (AI) on various domains of business and society. The book has six chapters covering a different aspect of AI-driven transformation. The first chapter examines how AI can enhance business leadership and entrepreneurship and the risks and challenges of its application. The second chapter analyzes how AI can transform the tourism industry, from improving customer service to creating new experiences. The third chapter discusses how AI can improve the security and efficiency of the financial sector, especially in the context of central bank digital currencies. The fourth chapter addresses the ethical and regulatory issues of AI deployment in companies and social enterprises, focusing on logistics and responsible practices. The fifth chapter explores how AI can enable innovative healthcare and military applications, such as integrating diagnostic models and enhancing civil and military capabilities. The sixth and final chapter looks at the future of technology and its impact on education and responsible innovation, with a particular emphasis on the role of AI in journalism and media. The book offers a rich and diverse perspective on the opportunities and challenges of AI-driven transformation and provides valuable insights and recommendations for researchers, practitioners, policymakers, and educators. This book is intended for researchers, practitioners, students, and anyone interested in learning more about AI-driven transformation's current and future trends.

NAVIGATING THE AI ECONOMY - STRATEGIES FOR BUSINESSES TO THRIVE

Strategies to excel in the AI economy require a deep understanding of technological integration and innovation. As artificial intelligence reshapes industries, companies must adapt to harness its potential. Embracing data-driven decision-making, fostering a culture of continuous learning, and leveraging emerging tools can empower organizations to thrive. This post will explore key approaches to strategically position your business in a landscape characterized by rapid advancements and relentless competition, ensuring resilience and growth in an increasingly AI-driven future.

Role of Artificial Intelligence on Businesses: from Research, Innovation, Market Deployment to Future

2021

The fast pace of artificial intelligence (AI) and automation is propelling strategists to reshape their business models. This is fostering the integration of AI in the business processes but the consequences of this adoption are underexplored and needs attention. This paper focuses on the overall impact of AI on businesses from research, innovation, market deployment to future shifts in business models. To access this overall impact, we design a three-dimensional research model, based upon the Neo-Schumpeterian economics and its three forces viz. innovation, knowledge, and entrepreneurship. The first-dimension deals with research and innovation in AI. In the second dimension, we explore the influence of AI on the global market and the strategic objectives of the businesses and finally the third dimension examines how AI is shaping business contexts. Additionally, the paper explores AI implications on actors and its dark sides.

Chapter 3. Effects of Digital Applications and Artificial Intelligence Technologies in Businesses

Generating Entrepreneurial Ideas With AI, 2024

The appearance and versatile structure of digital commerce (e-business) is increasing its importance day by day. Digital human resources management forms the basis for this increasing importance in various digital applications that transform today's businesses, such as accounting, marketing, production management and general business management. Artificial intelligence (AI) technologies are beginning to be used for their profound impact on labor and employment dynamics, with potential for both job displacement and job creation. The impact of computerized automation on unemployment rates and the emergence of new professions supported by artificial intelligence-driven productivity gains are being carefully followed in all sectors. Overall, valuable information is addressed regarding the evolving pipeline of digital businesses and their intersection with artificial intelligence technologies in reshaping employment paradigms and organizational strategies.

Artificial Intelligence: The Technology that Changes Business

International Journal for Research in Applied Science & Engineering Technology, 2021

In this modern technological era Artificial intelligence (AI) is rapidly acquiring tech industry. AI takes a leading role in conferences and demonstrates the potential for a good type of industry, including manufacturing and marketing. New gadgets are embedded with visual assistants, while interviews answer people’s questions on everything from an online office provider site to a web hosting service support page. For the enterprises, functional AI applications can display all sorts of informed methods of calculation for organizational needs, therefore the business understanding is derived from the information that is collected. Most of the enterprises use AI for everything from mining social data to drive insights in Customer Relationship Management (CRM) and used to improve efficiency tracking and managing assets. In this paper a brief study of how AI changes the business is presented by considering some practices of AI in Businesses, followed by few applications of AI, benefits of AI and lastly the future challenges to be faced by AI

THE IMPACT OF ARTIFICIAL INTELLIGENCE ON BUSINESS OPERATION: CURRENT STATE, FUTURE OPPORTUNITIES AND CHALLENGES

IAEME PUBLICATION, 2024

The purpose of this study is to analyse the current state and future implications of artificial intelligence (AI) technologies in various aspects of business operations. This study investigates the impact of AI on organizational development, exploring its effects on business operations, decision-making, customer experience, and supply chain management. Moreover, AI-driven innovation enables organizations to develop new products, services, and business models, driving growth and competitiveness. These innovations include enhanced decision-making through augmented intelligence, realtime analytics, and hyper-personalization of customer experiences. Advanced automation will lead to more autonomous operations and the integration of AI with Internet of Things (IoT) devices. Additionally, AI-driven innovation in product development, smart services, and cyber security will offer businesses new avenues for growth and competitive advantage. This literature review aims to provide a comprehensive understanding of how AI influences different aspects of business operations and the current state and opportunities it presents. The paper concludes that embracing AI and investing in its development will be crucial for businesses aiming to thrive in an increasingly digital and data-driven world. Companies that leverage AI effectively will be better positioned to enhance efficiency, drive innovation, and achieve sustainable growth in the evolving market landscape.

AI and Machine Learning in Digital Modernization Transforming Industries for the Future

International Journal of Global Innovations and Solutions (IJGIS), 2024

Digital modernization has been reshaped across industries by a pace and scale of innovation in artificial intelligence (AI) and machine learning (ML), redefining workflows, increasing operational efficiencies, and enabling new levels of creative genius. In this paper, we highlight the critical role of AI and ML in enabling digital transformation such as their deployment across legacy systems, use for predictive analytics and real-time processing. Focusing on developments in some of the most critical technologies automation, decision support systems and autonomous technologies the research explains their effect across major industries such as retail, healthcare, financial services and smart cities. The paper also covers the issues of ethical dilemmas, data privacy, and algorithmic bias as well, providing a framework for maintaining sustainable AI and ML implementation. Here, a solid architecture for integrating AI and ML onto the cloud-based infrastructures has been proposed, which stresses scalability, transparency and humanistic originate design. The paper looks at future trends like edge computing, autonomous systems and explainable AI to glimpse possible futures and the transformative power of these modalities. Using remarks, case studies and research, the paper highlights how balance of techno-innovation with ethics is a must-do to make sure that digitalization serves the needs and values of society. Combining information on current challenges and opportunities with foresight related to trends that are likely to emerge, this research serves as an invaluable roadmap within industries preparing for sustainable, positive change driven by AI and ML.

Re-architecting the firm for increased value: How business models are adapting to the new AI environment

Journal of Global Business Insights, 2022

This paper is an examination of how technology, specifically artificial intelligence (AI), brings about changes in business models, with corresponding impacts on the fields of economics and business. Concepts such as value creation and competitive advantage have cascading effects on organizational culture and the functional framework of a firm. Data creation, management, and curation using media platforms enable enhanced scalability and logistics management such that the firm can be re-architected around a digital core. Organizational structure with functions such as marketing and human resource management are integral links in the automated value network anticipating and responding to customers' needs while providing increasing marginal rates of return to the firm. The thematic analysis used as a methodological research tool yielded examples of companies that have embraced AI platforms and this paper describes the tremendous growth these companies are experiencing. This paper c...

The AI Revolution - Transforming The Monetary Landscape And Job Opportunities

While some may view artificial intelligence as a contemporary phenomenon, its roots sink deep into the annals of human ingenuity. Central to the understanding of this domain is the distinction between artificial intelligence (AI) and machine learning (ML). AI manifests as a complex branch of computer science that endeavors to emulate human cognitive functions, thereby enabling machines to perform tasks typically requiring human intelligence, such as understanding language, recognizing patterns, and making decisions. On the other hand, machine learning is a subset of AI, focusing primarily on the development of algorithms that allow computers to learn from and make predictions based on data. As data accumulates, these algorithms enhance their performance autonomously-without explicit programming, symbolizing a fundamental shift in our interaction with technology.

DIGITAL TRANSFORMATION POTENTIAL: THE ROLE OF ARTIFICIAL INTELLIGENCE IN BUSINESS

Intern. Journal of Profess. Bus. Review, 2024

Purpose: The integration of Artificial Intelligence (AI) into business operations has become a pivotal driver of innovation and efficiency. This research paper explores the multifaceted landscape of AI implementation in businesses, examining the benefits of AI implementation. Theoretical Framework: The methodology adopted for this research comprises Semi-structured interviews with six key stakeholders' executives, AI project managers, and digital transformation staff. Six additional globally businesses were chosen for case studies based on AI adoption maturity and digital transformation performance. Additionally, a qualitative content study of AI and digital transformation literature was conducted. Results and Discussion: The study revealed that as businesses continue to integrate AI, a balanced approach considering workforce implications is crucial to realizing the full potential of AI. The study also found out that the adoption of Artificial Intelligence in business is a nuanced process shaped by a confluence of factors. Organizational leadership, culture, resource availability, perceived benefits, regulatory considerations, data security, technology evaluation, and workforce readiness all play intricate roles. Thus, a holistic understanding of these factors empowers organizations to navigate the complex space of AI adoption, unlocking its transformative potential. Research Implications: The study's findings have many practical implications to businesses adoption of AI. AI, managers must promote innovation and adaptability. AI implementation requires human and technology capital. To reduce AI risks, legal and data security measures must be followed. To prepare employees for an AI-enabled workplace, organizations should adopt comprehensive training and development programs. Businesses may overcome AI implementation challenges and capitalize on its disruptive potential by addressing these five pragmatic elements. Originality and Value: This study contributes to the literature by offering insights into the nuanced landscape of AI adoption in businesses, emphasizing the crucial role of workforce considerations. It provides a comprehensive understanding of the multifaceted factors shaping AI implementation. The relevance and value of this research are evidenced by the holistic approach and contributes valuable guidance for organizations navigating the complexities of AI adoption, fostering innovation and efficiency while prioritizing workforce integration.