Artificial Intelligence and Business Growth

This article discusses the importance of artificial intelligence in the growth of businesses, barriers to AI implementation, and the tasks AI can perform. It also provides essential tips for implementing AI projects.

Running head: ARTIFICIAL INTELLIGENCE AND BUSINESS GROWTH
ARTIFICIAL INTELLIGENCE AND BUSINESS GROWTH
Name of the Student:
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Author Note:

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Table of Contents
Introduction:...............................................................................................................................3
Overview of the topic:................................................................................................................3
Theme 1:.....................................................................................................................................3
Why AI is essential for the growth of industries?......................................................................3
Theme 2:.....................................................................................................................................4
What are the barriers of AI?.......................................................................................................4
Theme 3:.....................................................................................................................................5
Why artificial intelligence does the tasks and not jobs?............................................................5
Theme 4:.....................................................................................................................................6
What are essentials for implementing AI?.................................................................................6
Conclusion:................................................................................................................................7
References:.................................................................................................................................8

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Introduction:
The aim of this paper is to discuss the contents of the article published by Andrew NG
that focuses on the usage of artificial intelligence in the growth of the company in this
competitive world of business. The author of this article is a part of world's most important
artificial intelligence teams working in Google and Baidu and founder of Landing AI. This
article has detailed importance of using artificial intelligence in the growth of the business,
the barriers of artificial intelligence, what factors help the AI to work out the responsibility
and what are the essential methods of implementing artificial intelligence for the business
growth.
Overview of the topic:
In this namely how to choose your first Artificial Intelligence project by Andrew Ng
has detailed the fact that the usage of artificial intelligence in the business growth is so
expanding that the most unexpected companies and non-internet industries are using artificial
intelligence for production. For example the energy sector, agriculture, education and
logistics are using artificial intelligence for the betterment of their products and services. The
usage of AI in the next 10 years will be growing usually and will create 13 trillion US dollar
as the GDP growth will be heighten in the future. According to the author the artificial
intelligence will be changing the method of production and working out the tasks by reducing
costs and enhancing the revenue.
Theme 1:
Why AI is essential for the growth of industries?
The importance of artificial intelligence in the growth of the industries is essential for
the companies in long run. By replacing the human workforce it can make the company’s

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cost effective. Usage of artificial intelligence in the production department can reduce time
consumption and gives more efficiency to complete tasks. That create value for the
companies in one hand and make more revenue within a limited period of time. The company
if wants to gain Full support of artificial intelligence must be capable to build up team and
invest usually to make itself able to handle all the aspects of artificial intelligence usage. In
three aspects the company can get help from the artificial intelligence projects these are cost
effectiveness, enhanced revenue and finding out new line of business. for example if a
company collects the agro products and send it to the retailers they can use automation
process of packaging and instead of going to the retailers they themselves can start a new line
of business of selling those products without third party involvement.
According to the author like Flasiński (2016), the usage of artificial intelligence leads
to companies to attain computational intelligence. It simplifies the methods of search,
evolutionary computing, logic-based reasoning, knowledge representation. According to
Basnayak et al. (2015) artificial intelligence has also helped the companies to gain
competitive advantage by developing methods of packaging, sales and customer services. For
example in Amazon the fully automated method of packaging the goods and sending to the
customers has enhanced efficiency of the company. Now the company has given the ability to
attend the same day delivery within 50 different cities of the US which is one of the most
important and breakthrough instance of the ability of artificial intelligence. In addition to this
the companies operating in The E-Commerce business uses artificial intelligence for
customer service and solving grievances effectively.

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Theme 2:
What are the barriers of AI?
According to Andrew Ng, the artificial intelligence must be creating value for different
departments of the company otherwise the stakeholders will not be able to understand the
effectiveness and will not be convinced to invest more fund for the automation of the
processes. The main issue related to the initiation and maintenance of the artificial
intelligence project is the unavailability of credible partners. The companies often cannot find
appropriate leader or team who can understand the need of the department and initiate a new
artificial intelligence project. These people cannot work cross functionally that is to
understand exact expectation of the tasks and then design a project.
However according to Crawford (2016) the barriers of artificial intelligence
implementation include use fund which the small and medium industries cannot invest for
production or marketing. The human resource that effectively work for a business by
contributing their skills and knowledge for their organisation are replaced by automation and
losing their employability. Therefore the community stakeholders can initiate complaints
against the company with whom they are associated. Finally to Thórisson et al., 2016), the
relevance of the artificial intelligence is necessary for the success of the project. In this aspect
the author of this article has given an example where he has mentioned about a medical
device manufacturing company. He has recommended this type of companies which offer
specialised goods for special sectors like Healthcare must be aware of the need of the patients
for the physician. On the contrary if the company uses artificial intelligence for recruitment
for other human resource operations they will undoubtedly fail.

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Theme 3:
Why artificial intelligence does the tasks and not jobs?
The artificial intelligence is no doubt of huge help for the human resource Department
of a company. However this replaces human efforts for doing a comparatively easy and
already designed tasks. Therefore the companies are trying to use artificial intelligence in the
form of automation of production system that reduces their investment on the human
resource. It is a huge investment initially but helps the company to survive in the long run
without investing toil in the near future. However in this aspect the artificial intelligence
cannot replace human employee as the letter works different tasks within his job limitation.
To Kolbjørnsrud, Amico and Thomas (2016) the human employee is responsible for
designing, planning and executive of different types of critical tasks which needs manual
labour and psychological understanding. On the contrary artificial intelligence does not
understand the essentiality of the tasks or jobs the associated factors with it and how the
decision will be made without affecting any of the stakeholders. Therefore as mentioned by
Nosengo, N. (2016), Artificial Intelligence as a wonder material can be used for doing tasks
and reduce the manual labour but cannot replace the essentiality of the human employees.
Theme 4:
What are essentials for implementing AI?
In order to implement the changes air introducing artificial intelligence in the
departments Andrew NG has pointed out some very important facts which the company must
follow to have a successful result of their first Artificial Intelligence project. The companies
must allocate funds for this artificial intelligence project according to the size, time and need
of the department. To Minton (2017), proper allocation of budget and declaration of time and

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outcome will help the stakeholders to understand the importance of the project without any
misunderstanding. The company however needs support of a leader who is capable to operate
in cross functional teams. for example if a production team needs artificial intelligence
support the IT team leader main help them but the leader must have the knowledge about the
functionality of production team and how the project will help to mitigate this issue.
Before implementing artificial intelligence project the company must understand the
feasibility of the project so that convincing the stakeholders does not become hard. The main
aim of such projects are to create value for the departments therefore the company along with
its Board members and other stakeholders who are associated with this project must discuss
about the value creation outcome of investment in this project (Fogel & Kvedar, 2018). Only
the leaders having cross functional expertise will not work. Along with the leaders the team
members will be e needed to have proper understanding of the departments for which they
are working. Finally the company must communicate the success of the artificial intelligence
project team so that this creates an effect of motivation factors for those team members who
will get impetus to contribute their skills and knowledge for developing more AI projects.
Similarly this announcement for proper communication can convince the leaders of other
departments to utilise artificial intelligence projects and meet their targets more easily.
Conclusion:
Therefore it can be concluded that in this competitive world of Business and
Advanced Technological era, no company can thrive without utilising Technology in their
operations. Their rival companies will be winning the market by implementing artificial
intelligence in the production or selling section. Importance has been put to choose perfect
and eligible artificial intelligence project that has proper relevancy with the need of the

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corporations so that they can guide the teams and managers to convince the stakeholders and
get the best result.

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References:
Basnayake, B.A.D.J.C.K., Amarasinghe, Y.W.R., Attalage, R.A., Udayanga, T.D.I. and
Jayasekara, A.G.B.P., 2015. Artificial intelligence based smart building automation
controller for energy efficiency improvements in existing buildings. International
Journal of Advanced Automation Science and Technology, 40(40).
Crawford, K., 2016. Artificial intelligence’s white guy problem. The New York Times, 25.
Flasiński, M., 2016. Introduction to artificial intelligence. Springer.
Fogel, A. L., & Kvedar, J. C. (2018). Artificial intelligence powers digital medicine. npj
Digital Medicine, 1(1), 5.
Kolbjørnsrud, V., Amico, R. and Thomas, R.J., 2016. How artificial intelligence will redefine
management. Harvard Business Review, 2.
Minton, S.N., 2017. The Value of AI Tools: Some Lessons Learned. AI Magazine, 38(3),
pp.99-101.
Nosengo, N. (2016). Can artificial intelligence create the next wonder material?. Nature
News, 533(7601), 22.
Thórisson, K. R., Bieger, J., Thorarensen, T., Sigurðardóttir, J. S., & Steunebrink, B. R.
(2016, July). Why artificial intelligence needs a task theory. In International
Conference on Artificial General Intelligence (pp. 118-128). Springer, Cham.