Impact of Artificial Intelligence on Business Strategy and Workforce Management in Global Environment

Contemporary
management

Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Four building blocks of strategy.............................................................................................3
Functions and impact of artificial intelligence on the business strategy ...............................4
Management of workforce in the global environment...........................................................5
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Artificial intelligence is the power or robot which is disciplined by a computer to do project that
are generally finished by human beings because they needed human intelligence and discernment
(Lu, 2020). It is very useful in business as it look the capabilities of them instead of the
technologies. Artificial intelligence can assist few business needs, that is, acquiring insight
through with data analysis, change business procedure and engaging with the consumers and the
workers. Through the use of Artificial intelligence, the business can boost their revenue, improve
customer experience, and increase productivity and efficiency. Hence, it is generally a
supporting tool for the business.
MAIN BODY
Four building blocks of strategy
There are basically four options which represent the building blocks of any strategy and these are
detailed below-
 Conceding- It refers to the admit or agree of some initiative to buy an opponent or
something which reconstitute one's forces and it should be happen in the business in the
era of artificial intelligence. As according to this building block, McDonald’s has to lead
their business and concede some initiative in the era of AI which can improve their
efficiency and productivity.
 Confronting- It refers to the direct activity against opposition to resolve a struggle or to
accomplish one's goals. As if the firm adopts this building block of strategy, they can
consider that they have always option available for them when they confronted with the
opponent, or any hindrance or resistance (Belhadi and et.al., 2022).
 Competing- It is a building block of any strategy as it focuses on that there is no direct
action against opponent by letting a third party which decides in a competitory area. The
firm has to use this strategy as to compete in a competitive market.
 Cooperating- It is a term which refers to the combination with other actors so as to
accomplish a mutually matched or cooperative interests and consequence. The business
has to cooperate with the other forces so as to accomplish their goals or objectives which
can lead to their success.