BM565 Presentation: Exploring AI in Digital Business & Technology

This presentation provides an overview of Artificial Intelligence (AI) in the context of digital business and new technologies. It begins by defining AI and its emergence, highlighting its applications in various industries such as retail, automobile, and hospitality. The presentation covers technological pla...Read More

DIGITAL
BUSINESS AND
NEW
TECHNOLOGY

TABLE OF CONTENT
• Introduction
• Emergence of AI
• Applications of AI
• Industries used AI
• Technological platform
• Benefit of AI
• AI in Retail Industry
• Ansoff model
• Boston Model

INTRODUCTION
The term AI may be defined as the wide
ranging branch of various computer science
that are concerned with building smart
machines that are capable of performing
critical task that requires human intelligence. .
It helps the companies in generating higher
revenue. It enables in making the business
process smoother and efficient

EMERGENCE OF AI
The development of AI was first invented in
1950s in the chess game programme and
Turing test. Turing test is used in measuring the
ability to learn machines ability to think. It was
entered in corporate world in 1960s with the
invention of automated robot that can be used
as repetitive task in assemble line.

APPLICATIONS OF AI
• Increases the efficiency
• Improves productivity
• Replaces the human efforts
• Cost effective method
• Promotes overall growth

INDUSTRIES USED AI
• Retail Industry
• Automobile Industry
• Hospitality Industry
• Service based Industry

TECHNOLOGICAL PLATFORM
• Internet personal assistant
• Intelligence automation process

BENEFITS OF AI
• Reduction in Human Error
• Available 24x7
• Helping in Repetitive Work
• Faster Decisions
• New Inventions

USE OF AI IN RETAIL INDUSTRY
• Management of Supply chain
• Inventory management and EOQ
• Decision making
• Understanding customer buying pattern
• Supports Better customer experience

ANSOFF MODEL
• It is one of the most popular method in order to plan the products and
market growth in strategic management. It was developed by harry Igor
Ansoff in 1957. It is also known as product mission matrix as it provides
with 4 possible growth strategies.

ELEMENTS OF ANSOFF MODEL
• Market penetration
• Product development
• Diversification
• Market Development

BOSTON MATRIX
This matrix helps in designing the long term strategic
planning along with seeking the opportunities by
reviewing the portfolio in order to decide whether to
invest, discontinue or produce new products.
• Dogs
• Question mark products
• Star products
• Cash cow

REFERENCES
• Chen, K.S. and Yu, C.M., 2020. Fuzzy test model for performance
evaluation matrix of service operating systems. Computers & Industrial
Engineering, 140, p.106240.
• Ha, S.Y. and Kim, D., 2019. Emergent behavior of a second-order Lohe
matrix model on the unitary group. Journal of Statistical Physics, 175(5),
pp.904-931.

CONCLUSION OF AI
• From the above project summary, it was concluded that AI plays an important role in promoting the
overall growth of the company. Its applications make the work faster and effective and eliminates the
probability of human error

THANK YOU