LIVING AND WORKING WITH TECHNOLOGY2 Introduction (slide 2) This presentation focuses on the impact of artificial intelligence in business by considering the content of the case study and Chapter 9. The presentation also addresses key privacy issues involved with the use of artificial intelligence in business as well as its impact in wellbeing and work conditions. Making Better Decision (slide 3) There are several steps that need to be followed when addressing a problem. Common steps involved include problem identification, developing alternatives, selecting best alternative, implementing and monitoring. The first process is problem identification which requires some form of intelligence to be able to evaluate the issue with precision. In most cases, this phase involves collecting information through machine learning among other forms of collecting data (Hammond, Keeney & Raiffa, 2015). The following step involves developing alternatives after identifying the solution. This phase is critical as it formulates the strategies that can be used. Thirdly, selecting best alternative require choice on the best method before the implementation which is the fourth stage. Lastly, it is significant for the business to evaluate whether the new framework worked or requires improvement which will then begin from problem identification in order to make new decisions. Question 1. Overview (slide 4) To begin with, from the perspective of problem solving discussed in Chapter 9 and the content of the case study, it is evident that business intelligence plays a crucial role in improving the performance of businesses. For instance, business intelligence is significant in making smart decisions(Yeoh & Popovič, 2016). This implies that as business managers are required to have a
LIVING AND WORKING WITH TECHNOLOGY3 firm grip on what the organization data results suggest. In essence, the primary objective is to convert an organizations data into meaningful information that can be used for purposes of decision making. Better decision making is bound to be realized when the managers have sufficient information about their business at their fingertips. Business intelligence information is effective in facilitating decision making process because all the information is channeled through a central location. Here, it suggests that the business intelligence tool that are used such as Isaak can collect all the required information in order to make decisions. On the contrary, lack of business intelligence exposes a company to poor decision making since the executive may lack certain information. Achieve sales and marketing goals (slide 5) Business intelligence tools often produces detailed information to boost sales and marketing performance. Business intelligence software such as Isaak is capable of offering sales people with measuring attributes that can be used to know the source of revenue and optimizing the business to boost sales. In relation to marketing activities, business intelligence tools contribute to increasing visibility with respect to sales information. Such information can be used to optimize target market in future. This can be realized through tracking and measuring campaign and utilizing the information to make decisions regarding future marketing. In addition, BI information enhanced collaboration between sales and marketing. Deepen your customer knowledge (slide 6) One of the major reasons that business intelligence tools are useful is as a result of their capability in enabling the business owner to understand how customers engage with a company
LIVING AND WORKING WITH TECHNOLOGY4 and how well they can be reached(Kasemsap, 2018). Lack of sufficient knowledge about customers concerns is likely to increase competition. Furthermore, customer journey has changed over the years and nowadays businesses tend to focus on engagement rather than promotion. More so, business intelligence assists a business to adopt to new customer journey. Business intelligence tools gather information from various departments. For instance, a customer relationship management tool will aim at providing individual customer journey which is significant in evaluating individual purchase patterns. Besides, having information in a central location is beneficial to organizations as a result of having the element of providing a single version of the activities in an organization for better decision making. Thus, knowledge about consumers is significant in strategic thinking with respect to decision affecting sales, marketing and growth. Deliver impeccable customer experience (slide 7) Customer experience is considered as a reliable marketing aspect that is widely acknowledged and used by marketers across the globe. In this context, business owners are expected to improve customer knowledge for purposes of improving customer experience, satisfaction and loyalty. Also, business intelligence assists organizations to access real time information to provide owners with the overall concept of the business model to be able to mitigate risks. As well, it contributes to enhanced customer service response and factors contributing to reduced customer experience. Nonetheless, information stored at a central location improves data accuracy and management and continuous tracking allows businesses to enhance customer engagement and support. In addition, segmentation can be conducted using business intelligence
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LIVING AND WORKING WITH TECHNOLOGY5 to identify the typical profile of profitable customers and optimize marketing objectives to target the users who fit the profile(Caban et al 2015). Enhance productivity (slide 8) Business intelligence is vital as it is capable of detecting inefficiencies and contribute to refining business activities, automate tasks and prioritize work. Other benefits of business intelligence with respect to productivity include responsive customer service, better sales representatives and closer monitoring of product life cycle and marketing initiatives. Less time is consumed when data is centralized and can be accessed from the cloud to any device anywhere in the world with an internet connection. Tighten data accuracy and compliance (slide 9) Today, businesses are at a risk of making poor decisions because of inaccurate data. As a result, it is important that business owners know where their data resides, which data is important and how they can be accessed. This is because a business is threatened when personal information of customers is exposed to unwarranted third parties. Also, centralizing business intelligence helps to improve transparency and expose risks that may influence an organization negatively. Data protection laws across the world focus on capturing, storing and using of personal data. In addition, it requires data to be kept accurate and up-to-date. Boost return on investment (slide 10) The overall goal of implementing a business intelligence tool in an organization is to increase the profitability position of a company. For this reason, business intelligence tools such as Isaak are designed to monitor, inform, guide, manage and measure customer experience. Consequently, these aspects play a critical role in establishing effective culture of an
LIVING AND WORKING WITH TECHNOLOGY6 organization. Therefore, the objective of business intelligence tool is stemmed from focus on department-specific solutions to enterprise-wide strategies that are aligned with business objectives and goals. Question 2.Privacy issues (slide 11) Privacy is considered as having power to seclude oneself in order to limit influence of others on one’s behavior. Also, privacy has been recognized as an element of human rights like freedom of expression, association and freedom of choice(Terzi, Terzi & Sagiroglu, 2015). In this regard, privacy involves the ability to control how data is being stored, modified and exchanged between different parties. Privacy issues have become a social issue as a result of advancement in internet based data mining techniques. Users that frequently use these techniques are in a position to access specific profile that can be used to cause harm on people’s lives. Artificial intelligence like Isaak has the ability to gather, analyze and combine huge data from various sources which contributes to information gathering capabilities of social actors that depend on the technology. The potential influence of artificial intelligence on privacy is immense thus contributing to the need for raising awareness about the issue. Artificial intelligence applications are made available as a result of speed, scale and automation. This is because artificial intelligence are faster in computing than what human analyst are capable of. Artificial intelligence maximizes utilization of large sets of data in short period of time and can perform designated tasks without supervision. As a result, these systems influence privacy issues in the following ways: Data exploitation
LIVING AND WORKING WITH TECHNOLOGY7 Majority of consumer products are designed to have features that increase their vulnerability to data exploitation. In addition, most users are often unaware of the data these devices generate, process and share. This implies that exploitation will continues to increase as human being continue being dependent on digital technology. Identification and tracking AI can be used to identify, track and monitor individuals across multiple devices. This implies that all the systems that are synched can be monitored from home, public and work stations. Since large data sets are considered to be unknown, AI is capable of classifying the data based on individual characteristics to determine a reliable pattern. Voice and facial recognition Voice recognition and facial recognition are two methods of identification. These methods have potential to compromise anonymity in public. This suggests that law enforcement agencies can use facial recognition and voice recognition to find individuals without probable cause which goes against legal procedures that are required to be upheld. Prediction These tools can be significant in predicting future activities by providing information that shows a pattern consumers and businesses use to generate sales and achieve marketing objectives (Bryson, & Winfield, 2017). This implies that these tools are capable of determining a person’s political views, ethnic identity and sexual orientation among other information relevant to predict patterns such as purchase preferences. In addition, these systems can be used for profiling individuals.
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LIVING AND WORKING WITH TECHNOLOGY8 Various methods are suggested to deal with the issues of privacy such as browsing the internet through anonymous network, use open source web browsers and open source operating system. Question 3.Impact on the workforce and well-being (slide 12) Although people continue to suggest that workplace conditions are going to change, Artificial intelligence has contributed to loss of jobs compared to past industry data. However, in some circumstances, AI is said to enhance the skill set of workers(Kianto, Vanhala & Heilmann, 2016). Furthermore, artificial intelligence is said to be contributing in improving workplace conditions. This is because studies indicate that AI removes elements of bias in hiring and remuneration of the workforce. As a result, AI assists employees to ensure appropriate safety gear is being worn. The human resource also utilizes AI to structure training and development programs. Besides, it contributes in opening up opportunities for emerging trend. With respect to well- being, artificial intelligence considers the impact of wearing devices or applications that are normally installed in smartphones. AI has contributed in improving occupational health systems, attendance and health risk. The health and wellness sector has witnessed improvement through applications such as communication through audio and simulating conversations to determine behavior. Furthermore, these tools are used to capture employee’s feedback in real time(Wright & Schultz, 2018). This is likely to support employee’s input and offer employers with wellbeing data of their workforce.
LIVING AND WORKING WITH TECHNOLOGY9 References Bryson, J., & Winfield, A. (2017). Standardizing ethical design for artificial intelligence and autonomous systems.Computer,50(5), 116-119. Caban, D., Smolčić, V. Š., Kuleš, K., Petrovečki, M., & Bilić-Zulle, L. (2015, January). The importance of the use of business intelligence tools to improve the planning process and make important decisions in a medical laboratory. In12. simpozij HDMI Medicinska informatika 2015. Hammond, J. S., Keeney, R. L., & Raiffa, H. (2015).Smart choices: A practical guide to making better decisions. Harvard Business Review Press. Kasemsap, K. (2018). Mastering business process management and business intelligence in global business. InGlobal Business Expansion: Concepts, Methodologies, Tools, and Applications(pp. 76-96). IGI Global. Kianto, A., Vanhala, M., & Heilmann, P. (2016). The impact of knowledge management on job satisfaction.Journal of Knowledge Management,20(4), 621-636. Terzi, D. S., Terzi, R., & Sagiroglu, S. (2015, December). A survey on security and privacy issues in big data. In2015 10th International Conference for Internet Technology and Secured Transactions (ICITST)(pp. 202-207). IEEE. Wright, S. A., & Schultz, A. E. (2018). The rising tide of artificial intelligence and business automation: Developing an ethical framework.Business Horizons,61(6), 823-832.
LIVING AND WORKING WITH TECHNOLOGY10 Yeoh, W., & Popovič, A. (2016). Extending the understanding of critical success factors for implementing business intelligence systems.Journal of the Association for Information Science and Technology,67(1), 134-147.