BM565 Digital Business & New Tech: AI Strategies for Businesses

This report provides an overview of how artificial intelligence (AI) is transforming businesses by enabling new value creation through various business models, enhanced consumer experiences, and improved internal capabilities. It emphasizes the importance of digital transformation for businesses of all sizes to remain competitive in an increasingly digital world. The report summarizes coursework on AI, highlighting its role in optimizing business operations, driving innovation, and improving decision-making. It also discusses various AI tools and software used by companies, including applications in customer service, web search, online retail, and supply chain management. The conclusion underscores AI's essential role in long-term business growth and development, noting its cost-effectiveness and efficiency in helping businesses transform and achieve success.

BM565 Digital
Business & New
Technology

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Digital businesses utilises technologies in order to make the new value from the several
value in different business models, consumer experiences and the internal abilities which assist
its major functioning. The term involves traditional businesses as well as digitalised
organisations which are transforming their operations with the help of the digital technologies. In
addition to it, digital transformation is clamant for the firms, from the small to the large
organisations. That content comes by clear and loud from seemingly all the panel discussion,
article, keynotes or research linked to how companies can remain competitive as well as
authentic as the globe becomes majorly digital. The following report will cover about the
summary of the course work 1 as well as short set of conclusion from the course work 1 and also
the set of the various strategic recommendations which can be applied to the company.
TASK
NOTES - Artificial intelligence is commonly a intelligence of the human which is represented
by the robotics and machines. In accordance to scale the business globally at the vast scale so
they should transform their business digitally with the help of artificial intelligence. In addition
to it, the artificial intelligence in the business opt to be essential for the company as technology
which si digital optimises the inner operations of the business by minimising the efforts of the

employees through automating the work with the help of machines. It also assist the business to
grow more by innovation also by offering the firm an appropriate making of the decisions.
Moreover to it, the digital transformation by artificial intelligence in the company is the
cognitive way in which the organisations are gaining more advantages of supplying the value to
their consumers in the dynamic as well as competitive market area. Moreover to it, development
of the AI is by the latest trends in the technologies at the time when the evaluation of the market
was appropriately recognised that AI is the vital and essential digital tech which is assisting the
businesses in gaining more profits as well as reducing the chances of errors.

NOTES- Entire world of business is consumed with the assistance of the artificial intelligence as
people are more possible to utilise the AI in order to commute on the daily basis, to check feeds
on the social media, to browse on the internet and many more. Furthermore, tools and software

of the Artificial intelligence that are utilised by the companies involves many techniques like
Infosys, Symantec, Periscope data and several more. The firm that utilises Artificial Intelligence
involves various commercial firms like Microsoft, Amazon, Google and many more. AI is also
used by the organisations in order to increase their consumer service, web search providers,
online retailers, experience and support and other web related business organisations uses
intelligent systems in accordance to understand the purchasing patterns of the consumers.
Additionally, business firm uses artificial intelligence in order enhance management of their
distribution chain.
Artificial intelligence can be utilised for the marketing automation, sales force
automation and various more. Also it has came to the existence as the new way of doing a
business without having major need of the humans it usually transforming the organisation
digitally in accordance to function independently which will assisting in brining more efficiency
as well as fluency in the company. Digital transformation is the major chance which is obsessed
with the digital tech alteration which can gain new business model, new development of the
product and structure and various more managerial issues as well as alteration in the company.

NOTES- For it, businesses installed various automation and robotics in the old traditional
functional management methods and activities as well as also digitalised the supply of the
offerings of the company.
NOTES- In the world if tech as well as computer science, AI is the ability of the machine to
replace the brain and work of the humans with the help of it. Moreover to it, AI is the broad
technology of digital which involves several various elements, objectives and it contains various
application in several subject areas of the organisation. Transformation of digital is broad area as
it does not restrict to the transformation of the information technology aspect of the organisation
instead it involves transformation of the operations, techniques, methods and many more. In
addition to this, there are various artificial intelligence applications in the organisational area for
instance this is utilised for the several ways which are sales, sensors, video, audio, operations of
business, security and any other element which involves the computer or technology in it.

NOTES - Retailers can utilise artificial intelligence in order to improve target by efforts in
marketing as well as develop an effectual distribution chain and improve the success rates of the
businesses.

NOTES - Efficiency and productivity – These are the two of the most cited perks of the
executing the artificial intelligence in the company. The technology tackles the works at the
speed and expansion which humans cannot meet. It also assist in eliminating such work from the
employees obligation as it permits them to move to higher needed tasks which tech cannot do. It
permits firm to reduce the expenses linked with conducting consistently, regular work can be
done by the tech while increasing the productivity of the employees.
Better quality and minimisation of the error made by humans – It is recommended to the
business firm in order to implement AI which can minimise the chances of human errors and
brawny adherence in order to place more standards at the time when they add technologies of
artificial intelligence to the processes. Moreover to this, at the time when artificial intelligence as
well as machine learning are connected with the technologies in which it automates repetitive,
ruled founded works as well as the combination which enhanced the working and minimises the
mistakes and also be trained in order to better and attainment of the business task effectually.

CONCLUSION
From the above report it has been concluded that artificial intelligence is very essential
for the growth as well as development of the businesses for the long period of time. As it is the
machine learning tech which has eliminated the efforts of the humans with the computers or the
machines. In addition to it, Artificial intelligence is one of the cost effectual as well as time
effective tech which has assisted the commercial firms in order to transform their business in the
optimistic way and it also is helpful in the long term success and well growth of the business
effectively and efficiently.

REFERENCES
Books and Journals
Aithal, P.S. and Aithal, S., 2019. Management of ICCT underlying technologies used for digital
service innovation. International Journal of Management, Technology, and Social
Sciences (IJMTS), 4(2), pp.110-136.
Sousa, M.J. and Rocha, Á., 2019. Digital learning: Developing skills for digital transformation of
organizations. Future Generation Computer Systems, 91, pp.327-334.
Mubarak, M.F. and Petraite, M., 2020. Industry 4.0 technologies, digital trust and technological
orientation: What matters in open innovation?. Technological Forecasting and Social
Change, 161, p.120332.
Stepnov, I., 2021. The uncertainty of the technological future. In Technology and Business
Strategy (pp. 19-37). Palgrave Macmillan, Cham.
Arenkov, I., Tsenzharik, M. and Vetrova, M., 2019. Digital technologies in supply chain
management. In International Conference on Digital Technologies in Logistics and
Infrastructure (pp. 453-458). Atlantis Press.
Scherzinger, M., 2019. Toward a history of digital music: New technologies, business practices
and intellectual property regimes. In The Cambridge Companion to Music in Digital
Culture (pp. 33-57). Cambridge University Press.