Digital Business & New Tech: A Report on Artificial Intelligence

This report explores the significance of artificial intelligence in digital business, its evolution, and its applications across various industries. It delves into the technological platforms and software employed in AI, highlighting its effectiveness as a business tool for enhancing customer service, automating workloads, optimizing logistics, increasing production efficiency, preventing outages, predicting performance, and improving marketing strategies. The report emphasizes the importance of understanding the capabilities and limitations of different AI technologies and the need for skilled personnel to leverage these technologies effectively. It also highlights the transformative impact of AI on how businesses operate, analyze data, and make decisions, ultimately concluding that AI is a crucial element for businesses to adopt in the digital age. This report was written for the BM565 Digital Business & New Technologies module.

Artificial Intelligence

Table of Contents
INTRODUCTION.....................................................................................................................................3
MAIN BODY...........................................................................................................................................3
What is artificial intelligence and its importance.............................................................................3
Evolution and development of artificial intelligence.......................................................................4
Description of the technology..........................................................................................................4
What technological platforms and software are used in artificial intelligence...............................5
What type of business and organisation uses the technology.........................................................5
How it is effective tool for the businesses?......................................................................................5
CONCLUSION.........................................................................................................................................6
REFERENCES..........................................................................................................................................7

INTRODUCTION
As digital technologies offer new ways to connect, collaborate, conduct enterprise and build bridges
between human beings, it touches the core of all enterprise features or even the methods agencies
are managed. Digital technologies have additionally challenged present business models and
preserve to achieve this. One of the important things riding forces of its miles the potential of
innovation and the consumerization of IT simply additionally plays a very important function. Digital
commercial enterprise is set that degree you spot in many adulthood models (in advertising, ICT,
social, businesses the converged – or completely linked/incorporated stage. From a sheer
technology angle, it goes past the well-known third platform and the evolutions are witnessing
nowadays such as artificial intelligence, cloud computing, the Internet of Things, mobile, Big Data,
etc(Lopez-Jimenez and et.al 2020). This report included the various topics such as importance of
artificial intelligence, its evolution and development, how the artificial intelligence is used,
technology platforms and software, what does business organisations uses as a part of technology,
how it is effectives for the businesses.
MAIN BODY
What is artificial intelligence and its importance
Artificial intelligence is the simulation of human intelligence processes through machines,
especially computer structures. Specific programs of AI consist of professional structures, herbal
language processing, speech popularity and machine imaginative and prescient. As the hype
round AI has accelerated, vendors had been scrambling to sell how their services and products
use AI. Often what they seek advice from as AI is certainly one component of AI, inclusive of
device gaining knowledge of. AI calls for a basis of specialized hardware and software for writing
and education system learning algorithms. No one programming language is synonymous with
AI, however some, which includes Python, R and Java, are famous. In widespread, AI structures
work via consuming huge quantities of categorized education statistics, reading the statistics for
correlations and styles, and the usage of those patterns to make predictions approximately
future states. In this manner, a chatbot this is fed examples of textual content chats can discover
ways to produce realistic exchanges with human beings, or a photo recognition device can learn
how to discover and describe items in photos through reviewing thousands and thousands of
examples AI programming makes a speciality of 3 cognitive abilities such as mastering, reasoning
and self-correction(Hutson, 2018).
Today, the amount of data this is generated, by using each human and machines, far outpaces
humans’ capacity to soak up, interpret, and make complicated selections primarily based on those
facts. Artificial intelligence paperwork the idea for all pc mastering and is the future of all complex
choice making. As an instance, maximum human beings can figure out how to now not lose at tic-
tac-toe (noughts and crosses), even though there are 255,168 unique actions, of which forty-six,080
end in a draw. Far fewer folks might be considered grand champions of checkers, with extra than
500 x 1018, or 500 quintillion, exceptional potential actions. Computers are extraordinarily efficient
at calculating those combinations and permutations to arrive at the best decision. AI (and its logical
evolution of system learning) and deep learning are the foundational future of business decision
making.

Evolution and development of artificial intelligence
Mos if the people aren't very acquainted with the idea of artificial intelligence (AI). As an example,
while 1,500 senior commercial enterprise leaders in the United States in 2017 had been asked about
AI, simplest 17 percentage stated they had been acquainted with it.[1] A number of them had been
now not positive what it changed into or how it would have an effect on their unique agencies. They
understood there was extensive potential for changing commercial enterprise techniques, but had
been not clear how AI will be deployed inside their very own business organisations. Despite its
great lack of familiarity, AI is a generation that is reworking every stroll of existence (Israni and
Verghese, 2019). It is a wide-ranging tool that permits human beings to rethink how we combine
statistics, analyse facts, and use the ensuing insights to improve decision-making. Our desire thru
this complete evaluate is to explain AI to a target market of policymakers, opinion leaders, and
involved observers, and exhibit how AI already is altering the sector and elevating vital questions for
society, the economy, and governance.
Description of the technology
Artificial intelligence itself is the technology which is used by the various business
organisations. The organisations can use this technology for various purposes such as:
 Hiring and recruitment- There is lots of competition for employment and normal, loads of
candidates are applying for a single function in a corporation. As an end result, it turns into
quite a tedious task for the Human Resources team of the business enterprise to go through
each single resume if you want to shortlist the perfect candidate. To make things simpler,
businesses use Artificial Intelligence and Natural Language Processing (NLP), to filter out via
the resumes and shortlist the candidates who meet their requirements closely. This is
finished by using studying specific attributes like vicinity, capabilities, schooling and many
others. It also recommends other process positions for the candidates, if they are eligible.
 Cyber security- The Internet has made management very handy in any business. But with it
comes threat of breaching and leakage of information. Every commercial enterprise calls for
security on-line due to the fact all the critical databases in their organization which include
financial statistics, techniques, personal records etc are stored online. Cybersecurity is a
necessity for all companies and therefore, is one of the most important applications of
AI.With the assist of Artificial Intelligence, the cyber professionals can understand and
eliminate undesirable noise or facts that they could hit upon. It allows them to be aware of
any extraordinary activities or malware and be organized for any assault. It also analyses big
amounts of information and develops the system hence, in order to lessen cyber threats.
(Prentice, Dominique Lopes and Wang, 2020)
Customer analysis- Businesses run for his or her customers and customers can make or break any
logo. So it's far extraordinarily essential for companies to analyse their client base and strategize for
greater engagement and improvement in some other field . Earlier, it become very tough for
businesses to get insights in their overall performance as maximum of the exchanges passed off in
person and the comments became anticipated manually thru sales or emotional components. Today,
Artificial Intelligence enables the business enterprise to perform surveys that would provide client
feedback that run deeper than just ancient data evaluation. It provides accurate information and
facilitates to carry out strategies for higher engagement and for facilitating income by way of
presenting higher client experience. Hence AI helps in making the business extra client-centric,
ultimately reaping rewards the organisations(Couzin-Frankel, 2019).

What technological platforms and software are used in
artificial intelligence
Artificial intelligence is one of the maxima extensively used technologies of the 21st century.
Corporates and organizations all around the world are looking forward to artificial intelligence,
machine mastering, and deep getting to know to optimize their operations. Read this article for a
sneak peek into the pinnacle-maximum synthetic intelligence equipment. Artificial intelligence (AI)
has entered the mainstream in the previous couple of years, with global adoption and buzz across
the era. A November 2018 examines by using O’Reilly states that over 47% of companies have
embedded AI capabilities of their enterprise procedures. This is a significant spike compared to a
20% response in 2017. This identifies the room for boom AI has inside the corporation region.
Automation thru synthetic intelligence holds the capability to enhance numerous corporation
operations extensively. With advances in fields like system getting to know-based totally
automation, computer vision, and deep gaining knowledge of, business organisation. (Lee, Davari,
Singh, and Pandhare, 2018)
What type of business and organisation uses the
technology?
Artificial intelligence (AI) is all round us. Every individual probable used it for each day
shuttle, looking the net or checking your cutting-edge social media feed. privy to it or no longer, AI
has a big impact for your lifestyles, in addition to your commercial enterprise. Here are some
examples of AI that you could already be the usage of each day(Kunz, Stellzig-Eisenhauer,
Zeman, and Boldt, 2020). As the big guy’s scramble to infuse their merchandise with synthetic
intelligence, different corporations are hard at work developing their personal clever technology and
offerings. The AI enterprise even broke records during the worldwide uncertainty of the COVID-19
pandemic, with synthetic intelligence start-ups raising $33 billion in 2020, in keeping with CB
Insights. With traders clamouring and the technology move-pollinating across infinite industries,
we've rounded up 43 artificial intelligence corporations and AI start-ups worth maintaining an eye
on. For example Microsoft, google, marks and spencer uses the best technology for the operations of
the businesses.
How it is effective tool for the businesses?
Before embarking on an AI initiative, companies ought to understand which technologies
carry out what types of tasks, and the strengths and obstacles of every. Rule-primarily based expert
structures and robot technique automation, as an example, are transparent in how they do their
paintings, but nor is capable of getting to know and enhancing. Deep mastering, then again, is
brilliant at mastering from massive volumes of categorised information, but it’s almost not possible
to apprehend how it creates the models it does. This “black box” trouble may be intricate in
tremendously regulated industries including monetary offerings, wherein regulators insist on
understanding why choices are made in a positive manner. In particular, businesses will want to
leverage the talents of key employees, which include records scientists, who've the statistical and
massive-records capabilities necessary to learn the nuts and bolts of those technology. A primary
success element is your humans’ willingness to study. Some will bounce at the opportunity, while
others will need to stick with tools they’re acquainted with. Strive to have an excessive percent of
the former(Haenlein, Kaplan, Tan and Zhang, 2019).

It is an effective tool for the businesses in various ways such as:
Improve client services - use digital assistant programs to provide actual-time guide to
customers (for instance, with billing and other duties).
Automate workloads - acquire and analyse statistics from clever sensors, or use system learning
(ML) algorithms to classify work, routinely course provider requests, etc.
Optimise logistics - use AI-powered image reputation tools to monitor and optimise your
infrastructure, plan delivery routes, and so forth.
Increase production output and efficiency - automate manufacturing line via integrating
business robots into your workflow and teaching them to carry out labour-intensive or mundane
obligations.
Prevent outages - use anomaly detection techniques to identify patterns which might be likely
to disrupt your enterprise, which include an IT outage. Specific AI software program might also
help you to discover and deter safety intrusions.
Predict performance - use AI programs to decide while you may attain performance desires,
together with response time to help table calls.
Predict behaviour - use ML algorithms to examine styles of online behaviour to, as an instance,
serve tailor-made product gives, discover credit card fraud or goal appropriate advertisements.
Manage and analyse your facts - AI will let you interpret and mine your information extra effectively
than ever earlier than and provide significant perception into your assets, your emblem, workforce
or customers(Marr, 2019).
Improve your advertising and marketing - as an instance, efficaciously song consumer
behaviour and automate many recurring marketing obligations.
CONCLUSION
From the above report it is concluded that how important the artificial intelligence is which
means adopting the digital platforms and new technologies has evolved so much in the world.
The business adopts the strategies and make use of it. It is important for the business
organisation to have the data and customer analysis. The business uses big data tool and various
other for predicting the consumer behaviour and preferences in order to develop and grow it
operations and functions.

REFERENCES
Couzin-Frankel, J., 2019. Medicine contends with how to use artificial intelligence.
Haenlein, M., Kaplan, A., Tan, C.W. and Zhang, P., 2019. Artificial intelligence (AI) and
management analytics. Journal of Management Analytics. 6(4). pp.341-343.
Hutson, M., 2018. Has artificial intelligence become alchemy?.
Israni, S.T. and Verghese, A., 2019. Humanizing artificial intelligence. Jama. 321(1).
pp.29-30.
Kunz, F., Stellzig-Eisenhauer, A., Zeman, F. and Boldt, J., 2020. Artificial intelligence in
orthodontics. Journal of Orofacial Orthopedics/Fortschritte der Kieferorthopädie.
81(1). pp.52-68.
Lee, J., Davari, H., Singh, J. and Pandhare, V., 2018. Industrial Artificial Intelligence for
industry 4.0-based manufacturing systems. Manufacturing letters, 18, pp.20-23.
Lopez-Jimenez, F., and et.al 2020, May. Artificial intelligence in cardiology: present and
future. In Mayo Clinic Proceedings (Vol. 95, No. 5, pp. 1015-1039). Elsevier.
Marr, B., 2019. Artificial intelligence in practice: how 50 successful companies used AI
and machine learning to solve problems. John Wiley & Sons.
Naugler, C. and Church, D.L., 2019. Automation and artificial intelligence in the clinical
laboratory. Critical reviews in clinical laboratory sciences. 56(2). pp.98-110.
Prentice, C., Dominique Lopes, S. and Wang, X., 2020. Emotional intelligence or
artificial intelligence–an employee perspective. Journal of Hospitality Marketing
& Management. 29(4). pp.377-403.