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Strategic Cost Management Assignment Solved

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Added on  2020-10-22

Strategic Cost Management Assignment Solved

   Added on 2020-10-22

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Strategic costManagementSRN : 17060531
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1(A) Artificial Intelligence Goes Mainstream.............................................................................1TASK 2............................................................................................................................................3(B) FT Article on launch of MOIA in Hamburg, Germany........................................................3CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
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INTRODUCTIONStrategic cost management help the organisation to reduce it's cost which improvebusiness position through various strategies. It involves the process of decision making with thehelp of relevant cost information. This report is about how Artificial intelligence (AI) help thecompany to reduce their cost and provide higher profit in comparison to those organisation whonot used AI.TASK 1(A) Artificial Intelligence Goes MainstreamArtificial intelligence (AI) is the part of computer science that create a intelligentmachine. This machine includes the various activities which helps the human in their workplaceon regular basis, even nowadays AI is the part of work culture. Without Artificial intelligencecompany not able to achieve their targets and it also create the huge mess in the process. In theorganisation number of forces affect the Artificial intelligence along with various technology. Ithave huge processing power which can complete the task very quickly and it is also helpful forreducing cost rapidly. It provide facilities such as outsourcing of data storage and cloudcomputing. These functions help to reducing price and that allowed company to invest in AI anddevelop their process regularly(Guenther and Gaebler, 2014). This technology provide themobility and bandwidth facilities for the worker or users so they can access the applications fromany location. Developer understand that how human brain works and how they have to alterthese things in the computer system. Which increase it's capacity to recognise a person throughdifferent patter, voice, natural language and machine learning. Artificial intelligence help the organisation to build strategies which provide propercompetitive advantage. This intelligence technique help to increase production at low cost whichdirectly increase the profit of organisation. According to Deloitte studies, AI have three majorcategories such as product, process and insight applications. Product application of Artificial intelligence plant in the product level which enhance thequality of production that directly provide benefit to the customers. It use the functional analysisfor the competitive advantage. So manager of the company build strategic plan for executing AIin the production level for reducing cost of product and services. Functional analysis show therelation between product function, it provide end benefit for the consumers. For example: -1
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