Role of AI in Business: Talent Acquisition, Learning and Development, and Change Management

Individual Coursework

Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Role of AI in business..................................................................................................................3
Talent acquisition.........................................................................................................................5
Learning and development..........................................................................................................5
Change management....................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
The core purpose of every business organisation is to generate more profit along with rendering
better quality of products and services to society. There are various management strategies that
enables manager to manage their work while staying competitive. Technology is emerging in
every business industry and various companies have opted in order to perform work in an
effective and efficient way (Bader and Stummeyer, 2019). Due to COVID-19, many businesses
have affected adversely as there is been a sharp decline in sales because of travel restrictions. As
many companies are facing issues related to recovering fixed cost due to absence of revenue
generation. This project essay will cover brief introduction of pandemic on business and use of
AI in business. Further, it will cover competitive strategy model and Human Resource theory
along with role of AI in managing business strategy. At last, it will cover imporatnce4 of talent
acquisition, learning and development in current global competitive environment.
TASK
Due to pandemic many businesses have affected due to lockdown and absence of customer
engagement rate. There can be seen a decline of profitability and for due to unavailability df
funds many companies have to shut down their operations. It had affected almost every business
industry. With this affect, AI came into existence more strongly. It had supported business in
many aspects as it has the ability to perform task like human thus reduces complexities. It helps
in improving relationships with employees, customers and other stakeholders. After pandemic,
people understand the value of technology and it can contribute in managing business more
effectively and efficiently. In the education sector, it becomes difficult for schools to take offline
class but use of e-leaning made it easy and convenient to take online lessons. In food and
beverage industry, many small restaurants do not opt take away or online delivery but after
pandemic they feel value of technology.
Role of AI in business
 Save time and money –When it comes to working, machines can perform task more
effective than humans. They can work for 27/7 without getting bored. They have
capability to work without any break and thus saves time of company. It can perform
millions of calculation in seconds without any error. It is alsos cost effective than human