Contemporary Issues in Digital & Business Technologies
Verified
Added on  2023/06/14
|12
|2774
|56
AI Summary
This article discusses the future role of Artificial Intelligence in business functions, especially in manufacturing and production, and the impact of hackers on international businesses. It also highlights the potential risks and benefits of AI and cyber security firms in the digital age.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Running head:CONTEMPORARY ISSUES IN DIGITAL & BUSINESS TECHNOLOGIES CONTEMPORARY ISSUES IN DIGITAL & BUSINESS TECHNOLOGIES Name of the University Name of the student Author Note
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
1CONTEMPORARY ISSUES IN DIGITAL & BUSINESS TECHNOLOGIES Table of Contents The Future Role of Artificial Intelligence on a Business Function...........................................2 Impact of Hackers on International Business.............................................................................8 References..................................................................................................................................9
2CONTEMPORARY ISSUES IN DIGITAL & BUSINESS TECHNOLOGIES The Future Role of Artificial Intelligence on a Business Function Artificial intelligence is used extensively in many industries nowadays such as commercial, retail, banking and gaming. For the business sector, especially in manufacturing and production, Artificial intelligence is slowly making its way and the perceived future with this evolving technology looks promising. Machines which are driven by AI are creating new benefits by offering better machine – human interaction, increasing production efficiencies and better opportunities (Nilsson 2014). Artificial Intelligence will bring about a new age of automation by rebuilding the way humans interact and collaborate with machines leading to a better digital economy. The manufacturing and production business process has faced a lot of issues such as overload of information, integration issues, issues in decision making and expertise shortage. Introduction of AI has facilitated businesses to mitigate many of these issues. The future role of AI in this business process will be seen in mass production. Robots and AI will play a big role in business as well as industrial manufacturing. AI will be used to power robots for automating solutions, minimising human errors and providing quality services.AI will be used to automate processes as humans are capable of working in 3 shifts for continuous production, while AI robots can work all day without interruption. In the future, AI will be used for expanding businesses for meeting the high demand from customers all around the world. AI will be also used to make the operational environment safe. Workplace accidents are common in manufacturing plants (Vasant 2015). AI robots can be used to operate in risky situations of the manufacturing process, so that less human resource is employed in carrying out dangerous and tedious work. In the future, most of the boring and repetitive tasks will be operated by Artificial intelligence. With the AI robots
3CONTEMPORARY ISSUES IN DIGITAL & BUSINESS TECHNOLOGIES working around, humans can concentrate on more innovative and complex tasks which will enable more innovation for the business. Anotherfuturerole of AI in thisprocesswillbe thattheoperatingcostsof manufacturing processes will condense (Zhou et al. 2015). Although incorporating AI in the business processes will need a significant amount of investment, still in the long run, it will make the entire process much easier to manage. Figure 1:AI effect on manufacturing and production (Source: Vasant 2015) The advancement in industrial automation and AI in the recent years have advanced considerably. A generation of new robots can be produced due to increase in computing power, sensor advancement and machine learning development (Michalski et al. 2013). In the future, AI will be able to adapt to new environments, learn and acknowledge patterns and analyse meaningful data. Artificial intelligence will be able to improve the manufacturing process due to their decisions which are data driven, promoting better production outcomes, improve the effectiveness of the process, reduce the operational costs, simplify scalability and product development (Bench-Capon, 2014). Communicating with Ai will gradually become
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
4CONTEMPORARY ISSUES IN DIGITAL & BUSINESS TECHNOLOGIES easier as AI is able to translate neural languages efficiently. This can be seen in the world today where a software automatically recommends us to a preference list which saves the trouble of navigating through the whole menu. The intention of the user is comprehended by the AI leading to better outputs and less errors. Since the 1970s, industrial robots and drones have been used in businesses. With the rapid advancement in this domain, AI will be involved in keeping the inventories in an effective manner which will reduce their costs and empower the business development (RussellandNorvig2016).AIwillbeinvolvedincoordinatingthequalitycontrol, production line, design team and supply chain of the entire process. Figure 2:Great value added in 2035 for manufacturing in businesses (Source: Jeschke et al. 2017) In the future, AI will be used to detect product defects. Due to the rapid advancement in computer visualization, AI will be used in quality assurance to defect detection in real time. Managers will not have to give sensitive information to workers for putting them in
5CONTEMPORARY ISSUES IN DIGITAL & BUSINESS TECHNOLOGIES manually. AI will be able to understand how to apprehend the information (Kittur et al. 2014). Stock transactions can be carried automatically as soon as an employee takes raw materials from the shelf. Similar to this, other tasks will be automated where inputting things via hands is not necessary. The internet of things or IoT will become more integrated with AI in the future. With IoT powered by AI, services and supplies can be provided to customers in a way that was not comprehended before (Springer et al. 2015). It can also provide distributors and producers an in depth analysis report to evaluate factors and quality that can decrease productivity. In the future, AI will be able to improve design processes of manufacturing products. Augmented generative designing is implemented in this method where the products are made based on their evolution. In the manufacturing processes, the profit margins are low in contrast to the initial capital investments which remain high. This has led the manufacturing processes to migrate to the low wage countries where the cost of hiring human resource is comparatively low. For a while now, the people of developing countries such as US and Europe has lamented about the loss of jobs in their respective countries (Bond and Gasser 2014). In the future, with AI controlling most of the manufacturing processes, companies would not have to migrate to other countries for cheaper resources. Moreover, as the workers will be replaced by AI controlled machines, they will be retrained to perform maintenance, programming and high level tasks. Most of them will have to develop applications so that the AI can automate normal tasks making the entire business procedure profitable as well as feasible. In the future, one of the roles of AI in the manufacturing processes will be machine vision. With High resolution cameras, AI will be able to detect images with way more sensitivity than the normal eye can perceive. It will be able to make sense out of images
6CONTEMPORARY ISSUES IN DIGITAL & BUSINESS TECHNOLOGIES which was not perceivable before. Machines powered by AI will be able to conduct quality analysis on circuit boards and use machine learning to detect any flaws. In a macroscopic environment, AI will be used to sense and avoid dangers in the manufacturing and production environment. Just like self-driving cars, AI will have a huge role in businesses as it will be able to move materials on its own using conveyors and forklifts (which can self-drive). Machine sensors will be able to detect obstruction and stop automatically (Nickerson and Zodhiates 2013). AI will be able to work cooperatively with their human colleagues in the manufacturing processes. AI and humans will be able to communicate in a common language that can be anticipated by the programming language of the machine. Moreover, AI will be able to predict maintenance conditions in the machines with the help of sensors that track the performance and the operating conditions of the machines. It will also be used to predict malfunctions and breakdowns and take pre-emptive actions on its own saving time and money (Cohen and Feigenbaum 2014). The data that will be collected from the embedded sensors in the equipment will be not used in the manufacturing unit only but also to other areas of the business such as distributor locations, retail outlets, facilities of the suppliers and inventories. In the future, AI will be able to provide subtle hints about predictable demand to manufacturersbeforetheproductmanufacturingisstarted.TheAIwillbeusedby manufacturers to predict stock markets. Sentiment analysis can be conducted by the AI to predict demand for certain brands and products (Tao et al. 2015). In the present world scenario, AIs are already being trained by consumers to predict their behaviours with the help of Amazon Alexa and Google Assistant. With time, the analysis methods in the AI will improve. Political opinions as well as social media data will be analysed effectively by the AIs to provide an insight into the consumer’s mind to the manufacturers.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
7CONTEMPORARY ISSUES IN DIGITAL & BUSINESS TECHNOLOGIES According to Greg Kinsey, the process of manufacturing will become more about brains in the future and will involve less utilisation of muscles. Manufacturing businesses will be able to revolutionise the way they interact with products and ship them (Jeschke et al. 2017). The process of creating something in bulk is receding as consumer’s expectations of products are evolving. In the future, consumers will be able to scan their feet in a machine for the shape and size and pick up the shoe later on the same day. In this context, the method of production in bulk and transporting to other countries seems not feasible. The businesses will see a drastic reduction in manufacturing costs as the machine learning of AIs improve with time. Customers will be able to enjoy a wide variety of products as mass customization in manufacturing will become common. In the future, the first fully automated application of AI in the manufacturing process will be to get rid of paper based tasks. The data could be cut down and analysed with AI decreasing the need for human personnel (Bostrom and Yudkowsky 2014). The production line can be customised with the help of AIs to make the whole procedure efficient. To conclude, AI will play a huge role in the future manufacturing processes of businesses if the technology is embraced openly. Currently, the technology is facing a lot of flak from people as the common misconception that AIs will lead to losses of jobs keep revolving. Time will tell if AI technology has the capacity to change how workplaces work or if it is just another technological bubble.
8CONTEMPORARY ISSUES IN DIGITAL & BUSINESS TECHNOLOGIES Impact of Hackers on International Business Thenumberofcyber-attackshaveincreasedexponentiallyinthepastdecade. International businesses are increasingly adopting cyber security systems to manage this threat but no security system is currently available that is 100% fool proof from cyber- attacks. The potential impact of the hackers on an international business can cost billions of dollars. Due to globalization and rapid advancement in the digital age, most of the businesses which are operating have migrated their business functions globally. Businesses which deal with private user data and banking details are widely targeted by hackers. The reason for hacking these financial data centres is for identity threat (Taylor, Fritsch and Liederbach 2014). The immediate impact of the attack will be the loss of reputation of the business in the eyes of its loyal customers. For other international businesses, the interconnected cost can be enormous and leads to the loss of time for the employees unnecessarily. Businesses which deal with client information can lose their competitive edge and even lose their entire client base due to a single instance of hacking. Moreover, from the opposite scenario, hacking can provide other organisations with valuable information about a client base helping it to get a leverage in this competitive market. Businesses which have digitized most of their business functions have to appoint new IT teams and invest in new infrastructures for preventing cyber-attacks (Smith 2014). Cyber security firms on the other hand will profit from these attacks and possibly benefit tremendously due to the hackers. The impact of hackers on international business can potentially risk their reputation and prevent them from gaining new clients in the future.
9CONTEMPORARY ISSUES IN DIGITAL & BUSINESS TECHNOLOGIES
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
10CONTEMPORARY ISSUES IN DIGITAL & BUSINESS TECHNOLOGIES References Bench-Capon,T.J.,2014.Knowledgerepresentation:anapproachtoartificial intelligence(Vol. 32). Elsevier. Bond, A.H. and Gasser, L. eds., 2014.Readings in distributed artificial intelligence. Morgan Kaufmann. Bostrom, N. and Yudkowsky, E., 2014. The ethics of artificial intelligence.The Cambridge handbook of artificial intelligence, pp.316-334. Cohen, P.R. and Feigenbaum, E.A. eds., 2014.The handbook of artificial intelligence(Vol. 3). Butterworth-Heinemann. Jeschke, S., Brecher, C., Meisen, T., Özdemir, D. and Eschert, T., 2017. Industrial internet of things and cyber manufacturing systems. InIndustrial Internet of Things(pp. 3-19). Kittur, A., Nickerson, J.V., Bernstein, M., Gerber, E., Shaw, A., Zimmerman, J., Lease, M. and Horton, J., 2013, February. The future of crowd work. InProceedings of the 2013 conference on Computer supported cooperative work(pp. 1301-1318). ACM. Michalski, R.S., Carbonell, J.G. and Mitchell, T.M. eds., 2013.Machine learning: An artificial intelligence approach. Springer Science & Business Media. Nickerson, R.S. and Zodhiates, P.P. eds., 2013.Technology in education: Looking toward 2020. Routledge. Nilsson, N.J., 2014.Principles of artificial intelligence. Morgan Kaufmann. Russell, S.J. and Norvig, P., 2016.Artificial intelligence: a modern approach. Malaysia; Pearson Education Limited,.