BM565 Digital Business & New Technologies: AI and Business Impact

This report examines the impact of Artificial Intelligence (AI) on digital business, focusing on its importance, development, and applications in various sectors. It covers the technologies and platforms used in AI, such as speech recognition and machine learning, and discusses how businesses leverage AI as a tool for automation, data analytics, and customer interaction. The report relates AI to course content, exploring its connection to business and management structures through scientific and bureaucratic management theories. It highlights AI's role in improving recruitment, personalizing marketing, simplifying customer support, enhancing security, and reducing operational costs. Examples from medical sciences and the gaming industry are provided to illustrate AI's transformative effects. The report concludes by emphasizing AI's potential to reshape the future of business and management.

Digital Business and
new Technology

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Importance of Artificial intelligence......................................................................................1
Description of the technology used in Artificial intelligence and what it is used for............2
What technological platforms and software are used in Artificial intelligence.....................3
What type of business and organisation uses the Artificial intelligence................................3
How is it used as a business tool and is this effective............................................................4
How does Artificial intelligence is related to course content and discussion on the nature of
the relationship between digital technologies and both and newly emerging on business and
management structure practice...............................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Enterprise products and customer experiences are being transformed through the application of
digital technologies, reinventing business models, creating new value-added products, and
connecting people to objects, insights, and experiences. A digital technology is any technology,
system, device, or resource that generates, stores, or processes data electronically. Any kind of
learning using technology is called digital learning (Zhang and Lu, 2021). Amazon is the
American multinational technology company that focus on e-commerce, digital streaming, cloud
computing and artificial intelligence. It was founded by Jeff Bezos in 1994 with established
headquartered in Seattle, Washington, United Kingdom. The report will cover brief regarding the
Artificial Intelligence with its impact on business and organisation management structure and
practices.
MAIN BODY
Importance of Artificial intelligence
Artificial intelligence has long been an important concept in computer science and the
computing industry, and in recent years the concept has gained even more notoriety due to
advances in machine learning and artificial intelligence. Machine learning is a branch of artificial
intelligence where machines are believed to be smarter than humans and responsible for
completing everyday tasks. Robotics and IoT device integration have elevated how machines
think and function to the point where they are now more intelligent than people. They have a
reputation for learning, adapting, and performing considerably more quickly than people are
taught and trained to. The importance of Artificial Intelligence is mentioned below.
 The importance of artificial intelligence and subsequent elements has long been known.
They are seen as methods and tools for improving the state of the world. Also, they don't
have to actually use these high-tech devices. Just look around and will see that artificial
intelligence has made most of that task easier (Collins and Moons, 2019).
 It is important because it makes our life easier. These technologies bring great benefits to
people and we aim to make them as easy to use as possible. It may work automatically in
many cases. As such, no manual intervention should be expected or required when using
the components associated with this technology.
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This makes these machines a valuable and important tool as they tend to speed up
operations and processes while providing a guaranteed level of accuracy and precision. These
technologies and applications are not only relevant to our daily lives, but also help us make
the world error-free in simple, everyday ways. It is important that how Artificial intelligence
has developed everything. Humans have been fascinated by the idea of building devices that
resemble the human brain at least since the first century BCE. John McCarthy first used the
term artificial intelligence in 1955, giving it contemporary meaning. The "Dartmouth
Summer Research Project on Artificial Intelligence," launched by McCarthy and others in
1956, was the forerunner of machine learning, deep learning, predictive analytics, and
prescriptive analytics. Data science, a completely new area of study, was also born out of it
(Mintz and Brodie, 2019). Building artificial intelligence has never been easier. After several
publications criticizing advances in AI, government funding and interest in the topic
declined. This period from 1974 to his 1980 became known as the "AI Winter". The sector
revived in the 1980s, when the British government started supporting it again to counter
Japanese expansion. From 1987 to 1993, the sector experienced other severe winter. This
coincides with weaker markets for some of the first general purpose computers and reduced
government support.
Description of the technology used in Artificial intelligence and what it is used for.
Speech Recognition
Speech recognition is a technique for transforming spoken language into a useful and
thorough format that computer programmes can understand. Human language transcription and
transformation into useable formats is a common and quickly expanding phenomenon today.
Speech recognition services are provided by businesses like NICE, Nuance Communications,
OpenText, and Verint Systems.
Machine Learning Platforms
A significant subfield of artificial intelligence and computer science, respectively, is
machine learning. The goal is to develop innovative ways for computers to absorb knowledge
and become more intelligent. Machine learning platforms are growing in popularity as per to
algorithms, APIs (Application Programming Interfaces), development, training tools, massive
amounts of data and applications. Often used for classification and prediction purposes.
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Companies selling machine learning platforms include Amazon, Fractal Analytics, Google, H2O
AI, Microsoft, SAS, Sky tree, and Ad Text.
Presently, 35% of overall sales are being driven by Amazon's recommendation algorithms.
Continuous AI is being used to comprehend the context and intent of client search queries so
they can understand why people are looking for particular products. Alexa, the original smart
speaker from Amazon, is powered by conversational AI (Goralski and Tan, 2020).
What technological platforms and software are used in Artificial intelligence
Organizations frequently employ AI tools for a few key factors. Intelligent automation, which
puts less strain on corporate resources, is one of the biggest. Others include consumer
involvement, natural language processing, business intelligence, the process of gaining insights,
and visualisation.
Google AI
Because of its extensive array of AI solutions, Google AI has become the industry leader in
the AI platform field. The Tensor Processing Unit, a specialised processing unit developed and
implemented by Google, accelerates the training of AI models and gives the platform a
distinguishing feature. The platform provides services for data organisation, translation, natural
language processing, image processing, and natural language understanding. Additionally, it
provides AutoML, a service that lowers the entry barrier for AI by lowering the level of expertise
needed to develop and deploy an AI model.
Amazon Web Services (AWS)
AWS focuses mostly on providing services for consumer-facing apps that want to
automate and improve client management. The platform focuses on offerings that can improve
client experiences through applications, as well as robust visualisation tools to interpret the
gathered data. Amazon Recognition is an image analysis service that can identify and compare
faces in photographs. Other AWS services include Amazon Lex, a speech recognition algorithm,
Amazon Polly, a service for turning text into natural-sounding speech, and Amazon Recognition.
Additionally, the Amazon Machine Learning platform offers data visualisation tools and
adaptable ML solutions that enable rapid deployment (Crawford, 2021).
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What type of business and organisation uses the Artificial intelligence
The fact that AI solutions are already being used in almost every area, with fantastic
outcomes, is the reason there is so much discussion about how AI could disrupt the world and
reshape the future.
In the field of Medical Sciences- The medical business has been greatly impacted by
artificial intelligence, which has altered its appearance. In order to accurately forecast crucial use
cases, such as evaluating whether a certain patient has a benign or malignant tumour based on the
symptoms, medical records, and history, numerous machine learning algorithms and models
have been developed. Additionally, it is used to make predictions about the future and to inform
patients of their failing health as well as the precautions they need take to resume living a
regular, healthy life. A virtual care private assistant designed for people's needs and widely
utilised for monitoring, studying various types of situations, and analysing previous instances
and their outcomes was made possible by artificial intelligence. By foreseeing what could be
improved and developing their own intelligence, it also aims to increase the effectiveness of their
models and assistants.
In the Field of Gaming and Entertainment- This is one sector of the gaming industry
where artificial intelligence has advanced most, from virtual reality games to contemporary
games. You don't need a partner to play because the bots are constantly there to play alongside
you. The level of personal information and the graphics are also made feasible by the
development of artificial intelligence, which is elevating this business (Mishra and Mukherjee,
2019).
How is it used as a business tool and is this effective.
Companies have long tried to anticipate market shifts and consumer preferences to
prepare for what's to come. Businesses can make better decisions with AI that can process
billions of data points in seconds. They can also use historical data to predict future outcomes
with high accuracy. Businesses can benefit from thinking of AI in terms of business skills rather
than in terms of technology. In general, AI can support three key business needs such as
automating business activities, learning from data analytics, and as well as interacting with
customers and employees. Enterprises are defined as groups or ambitious entities engaged in
professional, mechanical or commercial activities. It consists of the act of people working
together to produce goods and sell them to earn money and accumulate wealth. At presently,
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organizations are no longer relying on traditional business strategies to drive growth due to the
vast amount of information available and the constantly changing tastes and sophistication of
their customers. With AI, these fundamental changes have created new areas of potential
outcomes that can be leveraged to drive business growth through memorable experiences
designed from customer data. Artificial intelligence in business refers to using human-like
intelligent he machines to increase sales, increase customer satisfaction, increase profitability and
capacity, and drive business growth and transformation (Türegün, 2019).
 Automating Recruitment
 Personalising Marketing and Sales
 Simplifying Customer Support
 Improve Security
 Reducing Operational Costs
How does Artificial intelligence is related to course content and discussion on the nature of the
relationship between digital technologies and both and newly emerging on business and
management structure practice.
Scientific management theory
Federick W. Taylor was the first to advocate scientific management. To increase
productivity, we use scientific methods to research the most effective production processes.
According to Taylor's scientific management theory, he has only one "right way" to get a job
done. This makes it incompatible with modern methods such as MBO (Management by
Objectives), Continuous Improvement Programs, BPR (Business Process Reengineering), and
other tools of a similar nature (Souza Jr and et. al., 2020, December). There are various
principles on which scientific management theory is based on which are mentioned below.
 The process of identifying and standardising the one optimal technique to complete a task
using scientific methods.
 A distinct separation of duties and responsibilities.
 High salaries for workers who do well.
 A structure of power that is hierarchical and tight staff monitoring.
In order to introduce digital technology in an organization, managers need to create an
effective plan and accordingly encourage all employees to make multiple changes in the
workplace. There are many organizations that apply scientific management theory, and these
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organizations also find ways to improve employee performance by organizing work processes
and tools.
Bureaucratic management approach
Bureaucratic management examines how large organizations with multiple levels of
management function effectively and logically. The founders of this leadership style, Weber and
Fayol, opposed the favouritism and incompetence that prevailed in large corporations at the time.
Six key features form the basis of the functioning of bureaucratic management theory.
Specialization, rules and regulations, hierarchy, well-trained employees, management
commitment, and management impartiality are examples of these characteristics. There are also
two crucial components in Weber's theory of bureaucratic administration. It starts with creating a
hierarchy within an organisation. Second, there are clearly established guidelines for making
rational and lawful decisions that apply to both the organisation and its members (Mohamad
Halim, 2022). Each component aids in the achievement of organisational objectives. The
arrangement of an organisation according to its level of authority in relation to the levels above
and below it is known as an organisational hierarchy. A vice-president of marketing, for instance,
would be beneath the company's president, level with the vice-president of sales, and above the
head of the social media department. The ultimate leader of the organisation is at the top, and
each level answers to the level above it.
CONCLUSION
From the above report it is concluded that Artificial intelligence helps to bring various
benefits to the Amazon company. The goal of Amazon's AI capabilities is to give customers the
most precise and focused product suggestions possible. By making individualised buying
recommendations to its clients based on their online behaviour, these machine learning
algorithms are able to contribute to roughly 40% of Amazon's overall commerce. By boosting the
speed and accuracy of strategic decision-making processes, AI helps firms make better decisions,
which enhances key business processes.
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REFERENCES
Books and Journals
Collins, G.S. and Moons, K.G., 2019. Reporting of artificial intelligence prediction models. The
Lancet, 393(10181), pp.1577-1579.
Crawford, K., 2021. The atlas of AI: Power, politics, and the planetary costs of artificial
intelligence. Yale University Press.
Goralski, M.A. and Tan, T.K., 2020. Artificial intelligence and sustainable development. The
International Journal of Management Education, 18(1), p.100330.
Mintz, Y. and Brodie, R., 2019. Introduction to artificial intelligence in medicine. Minimally
Invasive Therapy & Allied Technologies, 28(2), pp.73-81.
Mishra, N. and Mukherjee, S., 2019. Effect of artificial intelligence on customer relationship
management of amazon in Bangalore. International Journal of Management, 10(4).
Mohamad Halim, S.K., 2022. Amazon. Com, Inc.
Souza Jr, C.M. and et. al., 2020, December. Advances on Earth Observation and Artificial
Intelligence to Map Unofficial Roads in the Brazilian Amazon Biome. In AGU Fall
Meeting Abstracts (Vol. 2020, pp. GC106-09).
Türegün, N., 2019. Impact of technology in financial reporting: The case of Amazon
Go. Journal of Corporate Accounting & Finance, 30(3), pp.90-95.
Zhang, C. and Lu, Y., 2021. Study on artificial intelligence: The state of the art and future
prospects. Journal of Industrial Information Integration, 23, p.100224.
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