Contemporary Management Issues in the 21st Century: Impact of Artificial Intelligence on Business Strategy and Human Resource Management

Contemporary
Management Issues
in the 21st Century

Contents
Introduction................................................................................................................................3
Main Body..................................................................................................................................3
Four building blocks-.............................................................................................................3
Artificial Intelligence and business strategy-.........................................................................4
Impact of AI on management of human resource-.................................................................5
Recommendation-..................................................................................................................5
Conclusion..................................................................................................................................6
References..................................................................................................................................7

Introduction
The involvement of technologies in carrying out the business activities is increasing
day by day. It is making numbers of unique and innovative changes in the operational and
departmental activities of the companies, by which a mode of ease has been noticed in
completing the whole task of the firm. Enormous technological advancement, it might be
related to the formation of new business policies or proposal to expand the market in the
global market (Schneider, and Leyer, 2019). The overall role of technology in any business
industry is linked up to the smooth functioning of business and this directly ensure the
success of the firm. This given report is based on the importance of artificial intelligence in
the business, by presenting the different ways by which it can affect the strategy making
process of the company. It will also illustrate the role of AI in setting up the efficient and
profitable workforce within the firm.
Main Body
In a business institution the decision regarding practicing the different sort of works
and duties with the help of machines or technical tools helps in evolving the necessity of
artificial intelligence. It is beneficial for business firm in distinct way as it brings the true and
relevant insight of the external environment in which a company is operating. The main
objective with which company install the technology of artificial intelligence as it allows in
saving the time and money by eliminating its wastage in some unproductive activities. It
further helps in making the decision-making activity fast and useful by availing the right
opportunities for the growth of the organization. McDonald’s is a fast-food chain which is
operating successfully in different parts of the world. The management of the company wants
to expand the working structure of the business by implementing the artificial intelligence in
its restaurants. This because company has assumed that by this change there is a possibility to
make the fast-food chain more effective in the industry. For this company is evaluating the
certain points which may get influenced by this proposal.
Four building blocks-
 Conceding- It explains the idea where company try to build the such policies for their
competitors through which risk for the business lowers. McDonald’s is not making
such framework of the working where the company have to follow the changes of
their rivals in the industry (Naqvi, 2020).
 Confrontation- In this an organization prepare itself to take all the challenges in the
market and mold its functions as per the requirement of dynamic environment. In case