Exploring the Challenges and Opportunities of AI in Modern Businesses

Desklib provides past papers and solved assignments for students. This report analyzes the impact of AI on business.

Table of Contents
Abstract......................................................................................................................................2
Research Approach and Methodology.......................................................................................3
Detailed description of the significant trend identified..............................................................3
Challenges in Artificial Intelligence..........................................................................................5
Opportunities in Artificial Intelligence......................................................................................6
Considerations............................................................................................................................7
Impact of the trend on business analysis practice......................................................................7
Conclusion..................................................................................................................................9
List of Figures
Figure 1: Google Deepmind.......................................................................................................3
Figure 2: Apple's Siri.................................................................................................................3
Figure 3: Reinforcement Learning.............................................................................................4
Figure 4: Robot Eve...................................................................................................................5
Figure 5: Flow chart of AI Process............................................................................................6

Abstract
Artificial Intelligence is promoted and introduced at a large extent in order to provide the
humans a helping hand in all the daily activities that are being performed. With the help of
Artificial Intelligence technology, new smart manufacturers are being introduced that actually
helps in monitoring, analyzing and capable of taking the appropriate required decisions in
place of the humans. To accomplish different possible inventions through Artificial
Intelligence; big data, robotics, and different connectivity devices are included. The main
idea that needs to be accomplished is the development of such robots that actually have
human intelligence and can take decisions as any other human being takes after analyzing the
things around them. The aim is not just the removal of any activity or work done by human
beings, it’s just the replacement of the time-consuming activities with the newly invented
technologies to make the work efficient and effective (Gunning, D. 2017).

Research Approach and Methodology
The report going to be made is based on the goal that describes the identification of the
different trends present in contemporary business environments. The Gartner reports,
organizational case studies, Search articles of Foresters, databases of scholars, competitive
analysis, many different business journals consulting firms such as KPMG, BABOK guide,
Bain and the company provided helped in presenting the required information.
A detailed description of the significant trend identified
Artificial Intelligence is used nowadays in various numbers of applications as well as in the
business areas from small to large product use. Apple’s Siri, as well as Google’s Deepmind,
are based on Artificial Intelligence. Apple’s Siri based on AI uses the Processing of Natural
Language also known as NLP that helps in interpreting the voice commands whereas
Deepmind based on AI uses the deep learning technique.
Figure 1: Google Deepmind (Source: "Google DeepMind will use blockchain technology for medical records •
Newbium", 2019)
Figure 2: Apple's Siri (Source: Ducklin, 2019)

Talking about the business area, businesses tend to get smarter and effective due to the rapid
development in the technology, AI helps in making the businesses effective and work smarter
to facilitate the employees in every possible way it can. Artificial Intelligence helps in
decreasing the efforts made by the people (Lu et al. 2018).
Artificial Intelligence is considered as the umbrella which consists of different technologies
present under it named as Machine Learning, Deep Learning, Robotics, Artificial general
intelligence etc. All these technologies provide something or the other in order to provide
enhancement in the businesses and many other fields (Raedt et al. 2016).
The Gartner report provided explains that 60% of the cloud applications to be made will take
the use of Artificial Intelligence. The cloud applications properly get built on the technology
AI will also provide various advancement methods to the user.
Moving further, Artificial Intelligence also considered as the weak Artificial Intelligence
because the true potential of Artificial Intelligence is not introduced properly to the people.
The weak Artificial Intelligence mainly focuses on the principle of one task to be done at a
time. On the other hand, Strong Artificial intelligence is also being introduced that basically
includes the whole work without the help of human input. It contains the whole app that is
made with the intelligence of the technology.
Re-enforcement Learning in AI is also one of the trends. Re-Enforcement learning basically
used to make the real robots learn many different daily use activities from the raw images in
order to provide the common people all kinds of facilities from folding clothes to making
food and many more.

Figure 3: Reinforcement Learning (Source: "What is reinforcement learning? - Quora", 2019)
Artificial Intelligence in the near future will be very beneficial in some of the other ways.
Talking about the helping desks nowadays, they use staffs and telephones so, with the help of
the Artificial Intelligence voice-activated front can be made. Making different predictions can
also be done by AI in the coming future with the help of the old stored knowledge.
Recently, a Robot made named eve helped in the detection of the ingredient from the
toothpaste that actually helped in using it to cure the patients suffering from malaria disease.
Such kind of inventions in science also helped in the medical field as well and provided great
help to the different patients( Raza et al. 2015).
Figure 4: Robot Eve (Source: 2019)
Artificial Intelligence in the coming future is going to be very beneficial for businesses. The
businesses nowadays use old invented devices and convert them to the latest technology
through Artificial Intelligence. The toothbrush invented long ago is being modified and
provided the electricity to make the new invention. Artificial Intelligence is going to create a

really big impact in the future by the use of the sensors and all possible technologies required
(Pedersen, R. D. 2018).
Figure 5: Flow chart of AI Process
The above Flow chart explains the AI decision process. The process basically contains the
collection of the data and each and every step taken by the user is being recorded and finally,
with the flow process, the final decision is being taken.

Challenges in Artificial Intelligence
The technology if helps in a bigger extent then it also provides trust issues and different
challenges, in Artificial Intelligence as well there are many challenges that are being faced.
Few of which are mentioned below-
Building the Trust:
Artificial Intelligence is providing the different technologies that people are using at a large
scale. People use them but are not at all aware about the working of these technologies
running at the back, no one is aware of the algorithms and processes, so this creates a second
thought in people mind about using or trusting them or not.
Human Interface
The next challenge is the knowledge and skills required to develop new technologies with the
help of Artificial Intelligence. Most of the people are unaware of the skills required and the
challenge is to prepare a set of people to contribute to this phenomenon of developing more
fresh technologies (Steels, L., & Brooks, R. 2018).
Investments
The other issue or challenge that is being faced at a larger extent is the Investment. The
business that could acquire the new, latest technologies are not willing to do it as making any
of the technology related to AI is costly and money or investment has to be made.
Malfunctioning of the Software
The other challenge is the malfunctioning of the software or the devices being developed. No
human or any technology or robots being made are perfect, so if such technology serving at a
big scale faces the problem or any issue would really create a challenge to fix it quickly.
Not the Replacement for every task
Artificial Intelligence has come into the businesses for replacing many activities or things or
tasks but it can be done only at a certain extent as not each and everything can be replaced
with the new technologies. So, the main challenge is to make it possible to provide it to as
many people as it can (Jiang et al. 2017).
High Expectations

The other challenge is the expectations of the people from Artificial Intelligence. People
nowadays see trends and expects a lot from technologies. Many few of the people can only
understand the concept behind the technologies and AI but the expectation regarding this is
increasing at a large extent (Topol, E. J. 2019).
Opportunities in Artificial Intelligence
Our Planet is getting optimized through different technologies like big data, artificial
intelligence and all that comes under the AI. We are surely optimizing every small to a big
aspect of our lives; different million aspects are being optimized through Artificial
Intelligence. From building we inhabit to the tools we use, the way we are saving our planet
or harming it in one or the other way technology is the part.
Business Opportunities
Many business opportunities are also increased with the help of Artificial Intelligence.
Companies use the products that were already being developed in the past and modify them
by providing various features with the help of the electricity and the new inventions are done.
Businesses nowadays are getting advanced with the passage of time as every business person
is aiming to get an easy and effective solution for their companies. Artificial Intelligence just
not only provided the inventions but it continues to grow for the people for the businesses and
providing many new inventions that are going to decrease the human efforts.
Job Opportunities
As the technologies based on Artificial Intelligence are getting increased, the robots are
taking or occupying the place of humans. People working from the past many years in any
company are being fired due to the less skill knowledge about the new technologies. It
doesn’t mean that the job opportunities are being decreased due to the new inventions being
made on the basis of AI instead a lot of job opportunities are being increased due to the
introduction of the Artificial Intelligence. People can learn those skills and technologies and
get a good and satisfying job in the new technology-based companies.
Future Opportunities
As the technologies based on Artificial Intelligence are increasing at a great extent, the
coming future would definitely create a lot of opportunities for the people to learn to observe

and to use the new inventions that would definitely help them doing the minimum amount of
work. If Artificial Intelligence would collab with the Mind reading, bio-enhancement, 3D
printing, Sustainability, Robots and Interfaces it would definitely provide us with a large
number of inventions and innovations. The coming future in 7 to 10 years, a lot of
technologies would take the place of the old machinery or systems in the companies and the
effort that would be required in the business would come down to almost 20-30%
(Yannakakis et al. 2018).
Considerations
Artificial Intelligence is increasing and providing a lot to the industries nowadays and would
definitely help the organization in the coming future. The Organization before adopting
Artificial Intelligence completely, few of the key considerations are needed to be followed:
Data Quality
The first consideration is the Quality of the data that is to be used for the new inventions to be
made. Artificial Intelligence completely depends upon the quality of the data as it helps in
making the new technologies and providing the appropriate work and output according to
that.
Understanding
The second consideration is the Understanding of the inventions made by Artificial
Intelligence. The inventions made are not easily understandable as the algorithms required
and the skills required to take the invention is also required to understand the output obtained
from the technology invented.
Participation
The next consideration is the Participation of the clients and employees in the technology
invented. A survey held in a company that gives the output that only 70% are ready to accept
the new technology and others is just afraid of losing their personal information and the data.
Building the trust is also needed which would help in providing the maximum participation of
the employees.
To assure the AI is ethical

The next consideration is ethics. The machine or the robot to be made should ethical. It
should not be partial to the people on the basis of colors or cast etc. This must be ensured by
the inventor to the people about the machine that it is actually unbiased (Brynjolfsson et al.
2017).
Impact of the trend on business analysis practice
Artificial Intelligence is not just providing the different inventions for the daily use to the
people but it also helps in providing a lot of benefits in the businesses. AI also helped in
providing many business opportunities. Many Companies use the products that were already
being developed in the past, they use Artificial Intelligence and modify them by providing
various features with the help of the electricity and the new inventions are done. Businesses
are also getting advanced and fresh with the passage of time as every business person is
aiming to get an easy and effective solution for their companies. Artificial Intelligence just
not only provided the inventions but it continues to grow for the people for the businesses and
providing many new inventions that are going to decrease the human efforts. Artificial
Intelligence can be the part of the businesses but few of the things that needed to be
understood are also to be considered. Businesses cannot contain the whole work based on
Artificial Intelligence unless the trust of using Artificial Intelligence is earned by the users.
Also, people should have the knowledge related to the inventions being made on AI. The
number of skills and knowledge required to build any of the software, the same knowledge is
also required to understand it (Agrawal et al. 2019).

Conclusion
The above report is concluded as Technology uses Artificial Intelligence and it leaves a great
impact on the businesses and different organizations. Artificial Intelligence has contributed a
lot to the businesses till now and it is going to contribute a lot in the future. The above report
does not actually explain the removal of the human mind and existence from the offices or
the companies and businesses but it is the replacement of the tiring, lengthy and old
machinery with the new inventions. The new technologies need new skills, good knowledge
which also helps in providing the jobs to the jobless people. With the introduction of
Artificial Intelligence in the businesses, many employees working from the past years also
lost their jobs due to the lesser knowledge of the skills about the new inventions. Businesses
use Artificial Intelligence also needs to take care of few points mentioned. Finally, the impact
of Artificial Intelligence is really beneficial for businesses in the coming future.

References
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