Impact of Artificial Intelligence on the Business World

ESSAY

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................6
REFRENCES...................................................................................................................................7

INTRODUCTION
Artificial intelligence is defined as the simulation of human intelligence in machines that are
created to reason like humans and imitate actions of humans. The acronym selected for this
technology reveals the fact that unlike human intelligence, emotions and concious are not part of
this technology. There has been lot of progress a in creation of sophisticated and useful
Artificial intelligence technology. Different types of Artificial intelligence technology is being
by corporates all over the globe. This essay aims to understand changes bought by usage of
artificial intelligence in the corporate world. The present essay provides answer bout impact of
artificial intelligence on the business world.
MAIN BODY
Artificial intelligence provides opportunities to business firms to improve organisational
performance. By looking at Artificial intelligence through corporate lens, it is identified that
artificial intelligence can assistance in three areas of business. These areas are automation of
business process, conduct data analysis to provide vital insights and consumer and employee
engagement.
Robotic process automotive is one of the most common types of AI used in corporate world.
This AI technology is used for automation of digital or physical tasks which are usually part of
back office or financially activities. This technology is comparatively more capabilities normal
business process tools because it inputs and consumes data from various Information system
similar to human employee (Artificial intelligence for the real world, 2018). This has enabled
business firms to reduce increase performance by automating certain activities. RPA does not
have enough capabilities but with swift progress in AI technology it can be used by business
firms to automate jobs which are already outsourced.
Another role of AI in the corporate world is to study giant sets of data, identify patterns and
understand their meaning for a business firms. Machine learning applications are able to identify
credit fraud and insurance claims fraud in real time, find consumers purchase patterns to predict
their future our base information, automate personalized digital advertisements and curate data.
This type of AI is used by business to enhance data analysis (Akerkar, 2019). Deep learning is an