Importance and Development of Artificial Intelligence in Digital Business and New Technologies

Title page
BM565 Digital Business & New Technologies

Table of Contents
2.1.1.Importance of AI/Big data/machine learning................................................................3
2.1.2.Development of AI/Big data/machine learning............................................................4
2.1.3.Technology used in AI/Big data/machine learning......................................................4
2.1.4.Technological platforms and software are used in AI/Big data/machine learning.......4
2.1.5.Businesses and organisations using learning.............................................................5
2.1.6.Use and effectives of AI/Big data/machine learning....................................................5
3.1.1.Significance of digital business and new technologies in an ever-changing global
business environment ..........................................................................................................6
3.1.2.Role of digital business and new technologies in emergence of theories in business 7
3.1.3.Challenges digital business and new technologies present to the managers.............7
3.References..........................................................................................................................10

1. Introduction
Digital business is defined as doing the business digitally or through online mode. Due to
conducting business digitally operational activities and services of the company are run
smartly and in smooth manner. In digital business various types of equipment's, software and
hardware's are used for delivering best quality service and product to customers in time
(Bornet, P., Barkin and Wirtz, 2021). Due to the use of new or updated technology such as
Artificial intelligence various functions of company are worked in automatic mode. Due to
this company are able to solve the problems of all customer segments and their employees
within low time. The main purpose of utilizing AI and other technology by organization is to
store, exchange, develop, retrieve and process different types of information effectively. This
report will cover the concept, importance, development and use of artificial intelligence. It
also covers technological platforms and software that are used in AI, business and
organizations using AI, application of digital business and new technology etc.
2. Explaining selected topic
In this report the selected topic is Artificial Intelligence and it refers to the development
of computer programme and theory. With help of this technology company are able to solve
the employee and customer problem quickly.
2.1.1 Importance of AI/Big data/machine learning
Firstly, due to the effective use of AI technology company are able to provide accurate
and meaningful data to customers regarding their product and services within low time
(Bouncken, R. B., Kraus, S. and Roig-Tierno, 2021). In this technology the involvement of
human beings is very less but the contribution of machines is high. Secondly, with help of AI
technology convenience of customers are effectively increased for availing the company
product and services within low time. The best example for understanding these two
importance is that in today's time ATM machines of various banks are highly popular
between public for taking cash from account. This machine is coming under the category of
AI technology. Due to using this technology the trust of the customers is effectively sustained
towards company for long duration. The other importance is that due to the use of AI
payment transaction are done quickly between company and customer with safety and
security.