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(PDF) Impact of Artificial Intelligence on Business

Assignment brief for a research project in the field of Business

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Added on  2021-01-02

(PDF) Impact of Artificial Intelligence on Business

Assignment brief for a research project in the field of Business

   Added on 2021-01-02

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(PDF) Impact of Artificial Intelligence on Business_1
Table of ContentsINTRODUCTION...........................................................................................................................1LO1..................................................................................................................................................1P1 Research proposal .................................................................................................................1P2 Examining suitable research methods and approaches to primary and secondaryresearch(LR)................................................................................................................................2Importance of innovation in Retail Organisation of UK.............................................................2Factors of digital technology that tends to drives innovation in the business.............................3Need base use of artificial intelligence in driving innovation in Nisa retailers..........................4Measures to drive innovation by Nisa retailers through artificial intelligence...........................4LO2..................................................................................................................................................5P3 Conducting primary and secondary research.........................................................................5P4 Applying appropriate analytical tools for analysing data......................................................7LO3................................................................................................................................................13P5 Communicating research outcomes in an appropriate manner for the intended audience...13LO4................................................................................................................................................13P6 Reflect on the effectiveness of research methods................................................................13P7 Alternative research methodologies.....................................................................................13CONCLUSION..............................................................................................................................14
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Title- “The implications of digital technologies on SME’s”INTRODUCTIONDigital Technology has provided game-changing transformation and innovation to themarket. It has disrupted existing industries and generated new ones. With the help of it, SME canconnect with customers and increase their productivity (Hammersley, 2017). In this research,importance of artificial intelligence, evaluation of factors and its proper usage are illustrated.LO1P1 Research proposal Aims and ObjectivesAimTo analyse the impact of artificial intelligence in driving innovation in retail businesses of UK-A study on Nisa retailers (SME). ObjectiveTo assess the importance of innovation in retail organisations of UK.To evaluate the factors of digital technology which tends to drives innovation in thebusiness.To determine the use of artificial intelligence in driving innovation in Nisa retailers. To recommend effective measures of driving innovation by Nisa retailers throughartificial intelligence. Research questionsWhy innovation is important for the retail organisations of UK?What are the factors of digital technologies that drives innovation into the business?How artificial intelligence as an effective digital technology can be used to driveinnovation in Nisa retailers? Background/ Overview of the studyIn recent years, digital technology has become indispensable for operatingmanagement areas of SME. It can easily affect dynamics and contribute innovation capabilitieswithin Small and Medium sized enterprise. Digital Technology must work on different modelsand methods where development and growth no longer rely on individual reasons (Aveling,Gillespie and Cornish, 2015). There is fast increase in technological improvement that reveals itsimportance of informatics and innovation. It is a crucial driver of economic growth and1
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development of SME. It results in new services and products with improved quality and reducedcosts of production. Processes and production are very close to technological innovation and intoday's multifaceted world SME focuses more on using technology to increase marketdifferentiation and client value. Artificial Intelligence is one of the most discussed technologiesused by SME (Kim and et.al., 2018). AI technologies present challenges and opportunities forSMEs. AI can be considered as fourth industrial revolution because it is responsible for changingpeople's lives and with machines and has risen up digital age. This report would illustrate theimportance, factors and use of AI in Nisa. It is getting cheaper and is not meant for defining newcommercialised and compelling markets that makes it accessible to small and medium sizedbusinesses.Rationale/ Significance Artificial Intelligence was selected for the research project in order to find out the mainreason associated with the innovation and growth of SME. More detailed information needs tosearched out with the impact of digital technology on SME. From Professional point of view,this study is carried to out to know the importance of digital technology on SME which createsand improve productivity of processes or workforce by accelerating workflow efficiency whichleads to profit margins. This also reduces errors and shifts work from paper-based processes.Going digital permits people to increase efficiency in several ways while curbing operationalcosts and many moulding many other financial structure. Artificial intelligence also adds value tothe businesses and thus business volumes is increases. This report helps businesses andcustomers going digital in professional way (Anwar and runi Kusumawarni, 2018). It generatesengaging various customers and approaching them in innovative ways. Therefore, in professionalcontext digital technology helps in cost savings, operational efficiency and carries challengeslike new competitors that captures customers through artificial intelligence and escalating cost ofoperations.P2Examining suitable research methods and approaches to primary and secondary research(LR)Importance of innovation in Retail Organisation of UKInnovation is important and outstanding factor that contributes in the economy of UK.According to Jenssen and et.al., (2016)all changes have taken place in retail sector and areallowed to operate systematically. It has been lead to increase in development of technologiesthat lead to productivity of logistics and selling processes. Internet and Artificial Intelligence are2
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