Research Project on Impact of Artificial Intelligence on Firm
Added on 2020-07-23
28 Pages6678 Words102 Views
Data Science and Big DataArtificial IntelligenceMechanical Engineering
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Research project1
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CHAPTER- 1 INTRODUCTION 1.1 BackgroundArtificial intelligence has taken the retail world by storm. For shopper who like to havepersonal shopping, artificial intelligence helps them in providing shopping process andpersonalised experience that retain customers for longer period of time (Copeland, 2015). Thepurpose of AI is not to replace human beings but support them in increasing tech-based jobs inall over the world. In order to create more efficient systems modern business required thatartificial intelligence to be integrated into the processes. The present research is based on Marksand Spencer which operates its business in retail sector. The firm also sells its product throughonline websites in different countries. It sales wide range of products which includes, clothing,food etc. Artificial intelligence lead to provide timely intelligence to the E-commerce businesshic help make all the complex task easier. 1.2 Focuses and purposeThis research study will be accompanied with the key determination of discovering theinfluence of artificial intelligence on performance of the firm in the retail industry. The purposeof this examination is to analyse the gap which is left by the earlier researcher on the selectedtopic. There are many researches have been conducted on artificial intelligence impact onperformance. However, the relationship between two is revealed by most of the authors in theirresearch. Artificial intelligence has taken place of human and they are helping business inaccomplishing success. In this context, the purpose of the present research is to developunderstanding related to the different aspects of the artificial intelligence and the way it impactsperformance (Wu and Olson, 2014). 1.3 Aims and objectivesAims - “To investigate the impact of artificial intelligence on performance of the firm in theretail industry - A study of Marks and Spencer”Objective To study the concept of artificial intelligence To evaluate the impact of artificial intelligence on performance of the firm in the retailindustryTo analyse the advantages of using artificial intelligence in the retail sector3
To recommend the ways in which artificial intelligence have changed the operation ofbusiness in the retail sectorResearch questionsWhat is the concept of artificial intelligence?What are the impact of artificial intelligence on performance of the firm in the retailindustry?What are the advantages of using artificial intelligence in the retail sector?What are the ways in which artificial intelligence have changed the operation of businessin the retail sector?1.4 Overview of dissertationIn the present dissertation there many chapters which are required for attaining the aimsand objectives in an effective manner. Here below are the following chapters-Chapter- 1 Introduction: The first section of dissertation is of introduction which provideoverview of selected topic. This section shows the framework with respect to the phenomenonused in the research. Chapter- 2 Literature review: Literature review is considered as most important part of theresearch which provide views and opinion of different authors on the selected topic. This sectionmakes evaluation of the knowledge and information which is exist with the prevailing literaturepiece in form of secondary sources. Chapter- 3 Research methodology: Research methodology section will cover wide range of toolsand techniques which will help in carrying out the research in a right direction. This section iscomprised of the tools which is employed by the researcher at the time of directing a research. Chapter -4 Analysis of data and findings: In this chapter all the collected information will beanalysed in thematic form. Chapter- 5 conclusion and recommendation: At last conclusion and recommendation will beprovided on the basis of results. 1.5 Potential SignificanceThe present research will provide depth knowledge related to the impact of artificialintelligence. This research will be essential in order to develop understanding related to theartificial intelligence and the way it can impact performance of retail companies. It assist in4
finding out the area that can be improved and become effective for the business. Here below arethe potential significance of the present research:Retail company will get benefits from the present research. They can able to employartificial intelligence in their way of working through considering its impact on theperformance. It will provide assistance to the analyst in order to prepare an overview of the impact onartificial intelligence on performance of the firm. The present research will be helpful for the academician who are preparing for Ph.D indeveloping a deep understanding related to the artificial intelligence. 5
CHAPTER- 2 LITERATURE REVIEW2.1 IntroductionThe area of writing audit is viewed as most noteworthy part that is joined with theproposition. The significant point next to leading the specific part is related with improvement ofappropriate and in addition dependable hypothetical base on particular subject. Because of thiswriting survey is viewed as particular section in the record. In this the conclusion from thecommon research inside the specific area is explored and evaluated for achieving properdiscoveries after the entire examination is being done. Notwithstanding this conclusions of thedifferent creators in connection to introduce examination is illustrated. In addition, the sectionincorporates more prominent information run which is joined with a few parts of chosen subjectby methods for auxiliary sources. In the present proposal part of writing survey is viewed asnoteworthy in wording that it helps with making assessment of the idea for the execution of theexploration in a powerful way.The influence of artificial intelligence on presentation of the firm in the retail industryAccording to the view of Korinek and Stiglitz, (2018), the complete retail industry hasbeing changes because of Artificial intelligence within the firm. It plays significant role inrespect to improve the performance of the firm. Customers received personalised experiencewhich is provided to them through the implementation of artificial intelligence. According toKonishi, (2018), state that, retail industry is long being transformed as because of the use of AIin the business. Along with this performance of the firm also improved. Customers are gettingonline shopping experience with the help of AI technology in the business. With the use of AItechnology company can easily keep record of all its past activities. For instance, company cangain information from its purchase history, clicks etc. This will help company to know getknowledge more about their potential customers and issues faced by them while makingpurchase. Through this way company can easily make improvement in their performance andcarry out all the business activities in an effective manner. Lu, Li and Serikawa, (2017), statedthat through keeping in mind views ad response of customers the company can provide themdifferent types of offers which can help in increase sales and profit. For example, on socialnetworking sites such as twitter, Facebook etc. if an invidiual like a post of company products orcommented positively on picture. Through this signals can be taken through the help of6
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