logo

BUSM3200 - MSC Management Strategy

8 Pages1569 Words167 Views
   

Royal Melbourne Institute of Technology

   

Strategic Management (BUSM3200)

   

Added on  2020-03-04

About This Document

BUSM3200 -  MSC Management Strategy Assignment It has been observed that Artificial Intelligence is a significant aspect of computer science that emphasized machine learning and it enables software to resolve issues in a manner that is similar to human intelligence. This research investigates how Artificial Intelligence helps organizations to gain competitive advantages,

BUSM3200 - MSC Management Strategy

   

Royal Melbourne Institute of Technology

   

Strategic Management (BUSM3200)

   Added on 2020-03-04

ShareRelated Documents
MSc – Management Strategy
BUSM3200 - MSC Management Strategy_1
Topic-Research Dissertation Guidelines 201617-1-1Total Words-9000 (Excluding Literature Review)Introduction- 15001.1 Introduction In the recent time many business started relying on the Artificial Intelligence to speedup the business with an innovative format. It has been observed that Artificial Intelligence isa significant aspect of computer science emphasized on machine leaning and it enablessoftware to resolve issues in a manner which is similar to human intelligence. However, thebusinesses have found special interest in AI. This is because the AI applications are assistingthe business to make analysis of large amount of data, which transforms the set into theinsight. It is certain that data scientific team of the organization cannot keep pace with thegrowth of technology. Therefore, the marketers started taking help from the cross section ofbig data and AI , which also helps them to find new sources of revenue. It has been further identified that AI is an emerging field emphasised on developingthinking machine with the intelligence compared to that of human. The use of AI is spreadingaround all sectors and some organizations are using AI as the significant business aspect togain competitive advantages. However, some organizations fail to implement it properly tothe business due to the financial challenges and poorly trained workforce. This researchinvestigates how Artificial Intelligence helps the organizations to gain competitiveadvantages. The research also presents the challenges in gaining the advantages withArtificial Intelligence. To gain the suitable outcome from the research, the study has beenconducted setting particular objectives which are presented in the following. Likewise, basedon the objectives, the literature review has been conducted.
BUSM3200 - MSC Management Strategy_2
1.2 Background of the Research Digitalization is changing the rules and procedures of the competition with a rapid pace. Theconventional organizations are at the risk being left behind. In such context, ArtificialIntelligence has been observed to be accelerating the trend. Once its capabilities develop aswell as simplify, the application of Artificial Intelligence might go disappear into thebackground embed everywhere. Therefore, the organizations in the government sector,private business community and society should understand the full implementation ofArtificial Intelligence. However, it is not known yet whether the organizations have been ableto gain the advantage of AI or they maximize the capability of their business with the help ofArtificial Intelligence. Thus, it is necessary to conduct a research on the fact howorganizations gain competitive advantages with Artificial Intelligence. Furthermore, it has also been identified that AI applications have penetrated differentbusiness sectors ranging from automotive, healthcare, financial services, robotics andelectronics to manufacturing. When it comes to competitive advantages, some largetechnological giants like Google, IBM, Tesla largely invest in Artificial Intelligenceapplication. By doing this, they are complementing their core technologies and shaping newbusiness models for gaining competitive advantages. As put forward by (), in order to surviveas well as thrive into the competitive market, the organizations must proactively have to dealwith AI challenge and opportunities. As put forward by (), the largest adopters of ArtificialIntelligence today are Information Technology Department where nearly 67% of surveyrespondent mentioned that they are using AI applications to detect security instruction anddeliver automation. In this context, () also mentioned that by 2020, almost 30% of theorganizations will observe a great impact in sales, marketing and customer service. However,no study has confirmed, to what extent and how AI is helping the business to gain
BUSM3200 - MSC Management Strategy_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
MITS Advanced Research Techniques Assesment
|4
|1556
|19

Artificial intelligence is a branch of computer
|15
|3753
|13

Impact of AI on Human Capital: In Context of Malaysia
|35
|10739
|88

Games with Artificial Intelligence - AI-based Game Design Patterns
|5
|670
|294

Abstract Technological Developments
|14
|3440
|11

Artificial Intelligence In Auditing And Accounting
|20
|4941
|127