Role and Influence of Artificial Intelligence on Business Strategy and Workforce Management

Contemporary management
issues in 21 Century

CONTENTS
INTRODUCTION......................................................................................................................1
MAIN BODY.............................................................................................................................1
CONCLUSION..........................................................................................................................4
REFERENCES...........................................................................................................................5

INTRODUCTION
In this age of digitalization, the requirements of the businesses have reduced the
waiting periods and therefore, there is more awareness in the market environment that can
modify quickly as compared to the earlier years (Milton and Lambe, 2016). By this
perspective, there are different organizations who are making use of emerging technologies
being designed for obtaining higher level of performance and for attaining an edge over the
others competing firms in the market. Keeping this in view, the chief purpose of the current
essay is to critically evaluate the role as well as influence of the artificial intelligence (AI) on
the overall business strategy and the management of workforces in organisations within a
global environment (Phillips and Moutinho, 2018). The essay will be going to highlight and
discuss the significance of talent acquisition, learning and development and change
management in the present global competitive climate through utilising different HR theories
and completive strategy model.
MAIN BODY
With the pandemic there has been alteration in the manner business conduct and
deliver their business (Parsons, Maclaran and Chatzidakis, 2017). Covid19 pandemic has
compelled many business films to embrace digital technologies or risk extinction. Between
these progressions, AI has detained a fundamental place and has haggard considerable focus
of both the investigators along with the industrial sector. As per Thomas and Peterson
(2017), AI is being demarcated as the capability of a machine of learning from involvement,
adjusting towards the new inputs and executing human like assignments. According to
Ghasemaghaei (2019) can now be the innovative entity with one of the most important
possibilities for disruption. Similarly, Müller (2016) has also stated that AI is the basic
omnibus expertise in the province particularly in regards with the machine learning tools.
One of the most significant roles that the artificial intelligence plays to offer advantages to
firms in the present time is speeding up the procedure in the decision making (McCann,
2014). A large amount as well as variety of information and inexpensive facts & figures
storage solutions are together allowing the artificial intelligence technologies for evaluating
big data sets for delivering beneficial outcomes. As datasets are generally are very big as well
as multifaceted, mechanism knowledge excerpts connotation from them in a manner that
individuals cannot do. Thus, mechanism knowledge is nowadays capable of driving
productive commercial choices deprived of any interference of humans (Roetzer, 2017).
1