Management Challenges and Solutions for Effective Utilization of Artificial Intelligence in Business Firms

This presentation covers the contemporary management issues introduced by usage of Artificial Intelligence in business, the benefits of using AI in business firms, management challenges created because of AI, and effective solutions in handling AI management issues.

KNOWLEDGE EXCHANGE
PROJECT

TABLE OF CONTENTS
• INTRODUCTION
• Overview of Hettie
• Influencing Literature
• Research Project Objectives
• Proposed Methodology
• Research Limitations
• Research Ethics
• References

INTRODUCTION
AI Technology today:
• Is used for data management
• Predicting consume behavior
• Improving consumer service
Small Businesses today:
• Are looking for ways to improve business operations to compete with multinational organizations
The research will investigate:
• Contemporary management issues introduced by usage of Artificial Intelligence in business. The complex challenges
associated with this topic are covered in this presentation along with solutions for eliminating these challenges

OVERVIEW OF HETTIE
Hettie:
• Award winning luxury family lifestyle brand
• Offers made in England products
• Classic British accessories, inspired by our
local British landscape
• Offers sustainable alternative to fast fashion

INFLUENCING LITERATURE
Advantages of AI in business
• As per the view of Gurtu (2021) the usage
of Artificial intelligence is beneficial for business
firms.
• Increases precision
• Replaces human labor
• Helps predict future outcomes through data analysis

MANAGEMENT OBSTACLES CREATED BY AI
• According to Vadapalli (2021) there
are different challenges associated with
the usage of AI in the corporate world.
• High Computing power of AI
• Trust Deficit
• Limited Knowledge
• Data Privacy and Security

WAYS OF EFFECTIVELY UTILIZING
AI
According to Marvin and Horowitz (2018) it is
important for business firs to take measures
while adopting AI so that it can e effectively
used.
• Understand the role of AI in business
• Fill internal knowledge gaps
• Developing effective leadership for AI
implementation

RESEARCH PROJECT OBJECTIVES
• To understand the benefits of
using AI in business firms
• To determine the management
challenges created because of
AI
• To identify effective solutions
in handling AI related
management issues

PROPOSED METHODOLOGY
Research methodology
• A contextual framework used for completing
coherent research with logical basis.
Research philosophy:
• Positivism and interpretivism.
• Positivism emphasizes factual knowledge.
• Interpretivism states that reality exists outside
of individual mind

RESEARCH APPROACH
• Deductive research approach and
inductive research approach.
Deductive research Approach
• Helps test an existing theory
• Supports quantitative measurement
Inductive research approach
• Improves flexibility

RESEARCH STRATEGY
• Experimental research, case study research and
survey are some of the examples of research
strategy.
Experimental Research
• Dependent, independent and extraneous variables
are used
Survey
• Supports systematic investigation through a
survey questionnaire

RESEARCH DESIGN
Research Design
• Explanatory and Descriptive are two
types of research design
Explanatory Research Design
• Operational definition is generated
• Detailed explanation
Descriptive Research Design
• Systematic description of the topic

DATA COLLECTION
• Qualitative data collection and quantitative data collection
• Qualitative Data Collection
• Involves approximation and characterization
• Non-numerical in nature
Quantitative Data Collection
• Statistical significance
• Numerical in nature

SAMPLING
• Probabilistic sampling method and non-probabilistic
sampling method
Probabilistic Sampling
• Equal opportunity for representation
• Supports generalization
Non-probabilistic Sampling
• Selection of sample is not known
• Non-random ways of selecting sample

COST
Articles Expanse
Transferable mainframe £20
Internet linking £15
Writing supplies £30
TOTAL £65

TIMESCALE
One
week
Two-week Three-
week
Four
week
Five-
week
Six week Seven-
week
Eight
week
Nine
week
Ten-
week
11 week 12
week
Choosing the
research topic
Creating research
aim and objectives
Developing
research rationale
and background
Data collection
Data analysis
Final submission

GANTT CHART

RESEARCH LIMITATION
• Completing the research with time constraint
• Low Budget
• COVID-19 pandemic affecting data collection
Questionnaire
• Confusion in understanding the questions correctly
• False answer
• Pandemic affecting research consistency

RESEARCH ETHICS
• Maintaining participant
anonymity
• Protecting personal data of the
participant
• Avoiding data manipulation
• Only assessing relevant
components

REFRENCES
• Flynn, R., Albrecht, L. and Scott, S. D., 2018. Two approaches to focus group
data collection for qualitative health research: Maximizing resources and data
quality. International Journal of Qualitative Methods, 17(1).
p.1609406917750781.
• Varghese, S. S., Ramesh, A. and Veeraiyan, D. N., 2019. Blended Module‐Based
Teaching in Biostatistics and Research Methodology: A Retrospective Study with
Postgraduate Dental Students. Journal of dental education, 83(4). pp.445-450.

REFRENCES
• 10 Steps to Adopting Artificial Intelligence in Your Business, 2018. [Online]
Available through
https://www.pcmag.com/news/10-steps-to-adopting-artificial-intelligence-in-your-
business
• Five Industries Reaping The Benefits Of Artificial Intelligence, 2021. [Online]
Available through
https://www.forbes.com/sites/forbestechcouncil/2021/06/02/five-industries-reaping
-the-benefits-of-artificial-intelligence/?sh=2766522359ca
• Top 7 Challenges in Artificial Intelligence in 2021. [Online] Available through

THANK YOU