Artificial Intelligence in Global Business Environment

HC3031
Trends in Global Business Environment
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Contents
Introduction................................................................................................................................................3
Overview of the topic............................................................................................................................3
Theme/ question 1................................................................................................................................3
Theme/question 2.................................................................................................................................4
Theme/question 3.................................................................................................................................5
Theme/question 4.................................................................................................................................5
Conclusion.................................................................................................................................................6
References................................................................................................................................................6
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Introduction
Artificial Intelligence has entered into everyone’s lives much swiftly than comprehended and
analysed by anyone. This next generation intelligence has slowly become a part of the lives of
people and even more in businesses. While thinking back of industrial revolution it can be
realized that technology available during this period of time has reframed how products were
made completely, and in turn, how the way people worked and lived. A world before
industrialization is hard to believe however, the reality is before this time minimal change was
there within the economy workings, movement of classes, or technological developments.
With the advent of industrial revolution, there was a rapid boom in technology. Artificial
Intelligence can be perceived as the next great revolution in technology further by definition
bringing a change in how information is collected, stored and used. Similar to any other
revolution, the processes which came before it is made obsolete. Artificial Intelligence has
fast become an important part of people’s daily life changing a wide area of everyday
services. It not only has reduced human effort, but also many industries are making use of AI
for developing machines performing multiple activities. Usage of AI has significantly
contributed in speeding with the working process and producing précised outcomes. The
arrival of AI has brought along the idea of a world free from errors. It is slowly being
introduced across all industries for reducing human efforts. AI is the central percept of the
disruptive changes of the prevailing industrial revolution, likely in challenging the ideas of
human and by being transformative in comparison to industrial revolutions that the mankind
has witnessed yet. Understanding trends in the global business environment is the purpose of
this study.
Overview of the topic
Artificial intelligence just like electricity is expected of brining a transformation across all
industries, right from manufacturing, agriculture, energy, to logistics, or education generating
$13 trillion of GDP growth by 2030. The arrival of AI has provided opportunities to
entrepreneurs in differentiating and defending their businesses. However, it is quite a
challenge to implement company-wide AI strategy. To seek success starting from a pilot
project is advisable for gaining momentum and gain primary comprehension. The purpose
behind pilot projects is creating value and with its successful implementation convincing
stakeholders to make investments in up the AI capabilities of a company.
Theme/ question 1
Will Artificial intelligence be replacing every human job in the workplace?
According to Aleksander (2017), when talking about the impact of AI on human jobs, the fear
prevails in everyone with growing dependency of this technological revolution across both IT
and non-IT sectors. A recent reveals that 72% of people have expressed concerns compared
to only 28% of people showing eagerness about a future where many jobs will be performed
by robots and computers. However, experts do believe that tasks will get replaced, but not
jobs. They further emphasize that rather than being pessimistic about job losses,
organizational leaders should help lessening the jobs where boring tasks are taken over by AI
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