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Artificial Intelligence Goes Mainstream

Critically evaluate the statements regarding the mainstream adoption of artificial intelligence and its potential impact on industries, with a focus on strategic cost planning for competitive advantage.

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Added on  2023-04-21

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This article discusses the growing use of artificial intelligence in business and its impact on different industries. It explores the challenges for AI implementation and provides insights on strategic cost planning. The article also discusses the launch of MOIA by Volkswagen and its potential impact on Uber's business.

Artificial Intelligence Goes Mainstream

Critically evaluate the statements regarding the mainstream adoption of artificial intelligence and its potential impact on industries, with a focus on strategic cost planning for competitive advantage.

   Added on 2023-04-21

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Running head: COST MANAGEMENT
COST MANAGEMENT
Name of the Student:
Name of the University:
Author Note:
Artificial Intelligence Goes Mainstream_1
1COST MANAGEMENT
Artificial Intelligence Goes Mainstream
The use of artificial intelligence is growing at a large scale. The main advancement of the
artificial intelligence is the commercialization of AI. Many of the organizations are using
artificial intelligence for the expansion of the business and improving the quality of service
(Channon and Caldart 2015). It can be assumed that the commercial use of the artificial
intelligence will increase in near future. The main objective of this paper is to evaluate the
different aspects of using the artificial intelligence in the commercial purpose.
Discussion
Growing use of artificial intelligence in the business:
It has been seen that the organizations are adopting artificial intelligence based systems
for the improvisation of the products and services (Král and Králová 2016). One of the examples
for the adaptation of the artificial intelligence is recommendation engines by Netflix. Apart from
that for improving the safety of the car computer vision is also an application of artificial
intelligence.
Automated voice response system has improved the customer interaction system. In
thiscontext, the example of Hong Kong subway can be mentioned. Hong Kong subway authority
uses artificial intelligence driven automated system for the optimization for the planning of the
workers.
With the application of the artificial intelligence, the mention of the machine learning is
also needed to be mentioned (Katz 2017). These two terms are related to each other; however,
they are not the same thing. Machine learning is making the machine to learn to do predefined
Artificial Intelligence Goes Mainstream_2
2COST MANAGEMENT
work. Decision making ability of the system may or may not involve in machine learning.
However, in case of artificial intelligence, it can be said that, the system has to go through deep
learning process and the concept of neural network is applicable in his case. The artificial
intelligent system is capable to make decisions on the basis of the situation.
The affect of using the artificial intelligence in different industries:
There are some effects of using the artificial intelligence in the different sectors of the
industry. It has been seen that the organizations are able to improvise their systems and
innovations are taking places in the industry (Král and Králová 2016). This increases the
competitions among the organizations in the market. The main advantage of using the artificial
intelligence is that the organizations are getting efficient and the productivity of the
organizations is increasing. Apart from that use of artificial intelligence in mitigating the
overhead cost for the organization.
Some of the organizations are using the artificial intelligence for the analysis of the
market. The values are collected from the different sources. In some cases, artificial intelligence
uses other emerging technologies like big data (Král and Králová 2016). In many cases, it has
been seen that the organizations are collecting data and information through the surveys. The
analysis of the data collected from various sources can indicate the demand of the customer and
the possible changes in the market.
Challenges for the implementation of artificial intelligence in the business
There are certain challenges in using the artificial intelligence for industrial use. The
leaders of the organizations should think about the way of using the artificial intelligence in the
industry. This technology can be used in various ways and for various purpose (Tredinnick
Artificial Intelligence Goes Mainstream_3

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