Digital Business and New Technologies: Evaluation and Impact Analysis

This report delves into the realm of digital business and new technologies, evaluating their crucial role in today's dynamic business environment. It begins by defining digital business and its evolution, emphasizing the integration of e-business practices and the impact of digital technologies on revenue generation, customer relationships, and market reach. The report critically assesses the role of present and future technologies, highlighting the significance of digital transformation, the adoption of AI, and the development of new business models. It provides examples like Uber, Netflix, and Disney to illustrate digital business models and their impact. The core of the report focuses on the impact of artificial intelligence, exploring its applications in business, from automation and optimization to data-driven decision-making and enhanced customer experiences. The report also discusses the challenges managers face when implementing AI, such as bias, computing power, and cyber threats. Overall, the report concludes with a summary of the key findings and implications of digital business and new technologies.

Digital Business & New
Technologies

INTRODUCTION...........................................................................................................................3
LO1..................................................................................................................................................3
Critically evaluate the role of present and future technologies in the business environment 3
LO3..................................................................................................................................................5
Demonstrate an understanding of the significance of digital and new technologies in an ever-
changing global business environment and the challenges these present to managers..........5
Artificial intelligence impact on business..........................................................................6
CONCLUSION................................................................................................................................7
REFRENCES...................................................................................................................................9

INTRODUCTION
Digital business is that kind of business that helps in development of those practices
which encourages e business and makes platform for an business to perform selling of product
and services online. Digital technology helps an business in capturing its market over internet.
Development of digital business has lead to improvisation of technologies which has resulted in
making easy over business and encouraging of e commerce. Digital business relates to customers
, seller and buyer by creating virtual relation among them. Scope of these business is wider as
they develop unique methods within an organization to reach to its customers. Nature of these
business is dynamic as they keep on changing as per development of digital marketing within an
organization. Further this file is based over digital technology and its impact over an business. In
the end new technology and its impact over an organization is explained.
LO1
Critically evaluate the role of present and future technologies in the business environment
Digital business use that technology which makes creation of new value within model of
business. Also it deals with experience of customers and capabilities of an organization to
enhance important operation within an business through digital technology. This has also lead
over developing of economy as in today's world people are spending money more over online
shopping and buying which has shifted the business by making emphasis over generation of
revenue through digital channels like internet, emails and social media. Growth in economy is
been done by digital business by making people familiar while using internet as a medium to sell
product and services has been driven which makes commutative edge to be developed within
digital area of an market. As digital business has been evaluating itself with the help of online
selling. As per Accenture's View “Digital business has created competitive edge that is based
over unique combinations over both digital and physical resources (Scuotto and et. al., 2019).
Various views has been presented over about the definition regarding digital business
within business organizations. Garners has explained about digital business as the process that
involves new value chain and opportunities which is not offered by traditional business. Then
Further McKinsey provided limelight over digital business as that kind of business seen or has
seen less things with way of doing business.

Most digital business covers various aspects upon points that is focused through creating
value with new frontiers with core business. In these businesses digital technology is there to
drive growth, revenue and performance through traditional process and are explained as follows:
 Use existing technologies: Cut cost, gathering information and providing customer
experiences. Digital businesses is focused over competitive advantages which makes
technological gains that reduces overhead by providing new area to cutomers.
 Embrace the concept of digital transformation and the cultural shifts that requires:
The implementation and management for digital marketing it is necessary for an
organization in restructuring of new roles that creates IT department for providing more
input in strategic decisions (Scuotto and et. al. , 2017)
 Explore new business models: Putting customers as centre of digital strategy. As per
this people is often willing over spending exceptional customers through experiences
making key differentiation over digital economy. In this business model aligns with
hyper focus on customers satisfaction that eventually leas over development of center of
digital services, since digital business has increased experience of doing business for an
organization.
Digital business focuses more upon technology that has been allowing organization to
create new value and experiences which makes differentiation over companies and provides new
value with experiences that differentiate organization by making competitive edge within the
existing market. Digital business is different from e-business as it typically makes existing
business models intact by using technology for gaining of effective efficiency in order to
eliminate problems faced while doing online business. This can be understood with simple
example that is making an customers fill card application through online medium makes
reduction of inefficiencies of paper application process and does not provide an experience with
different. Digital business focuses upon technology allowing organization to create more value
through experiences which makes gaining of place in an organization (Sathananthan and et. al.,
2017).
Examples of Digital Business
Uber: Capitalization has been spreading over making adoption of smartphones utilizing
an business model that has made low capital asset to be maintained. Traditional taxi organization

should allow and maintain vehicle that contributes over making recruitment by managing of
employees. Digital business has lead over development of various versions of the app that allows
customer make easy accessibility in booking taxies and cabs. Also it has improvised experience
of customers (Park and Mithas, 2020).
Netflix: This good example of an organization that makes switching form e-business to
digital business. Also Netflix uses technology for manage inventory system and providing
experience over ultimate fair and simpler methods to watch movie and web series. Also such
business has made development of movie rental store for Netflix by using fair means of
entertainment.
Disney: The organization has used traditional business and has been embracing
technology. As development of digital business ha made Disney to develop Magic band which
holds purpose to make experience be more safe and secure for customers. It uses RFID and radio
connected with the sensors in park. Major element of the band is that it helps every experience to
become better with secured means used over sending family that is to be done. In this five key
elements is included in it. These elements is been embedded within magic band making
experience to be improvised of customers (Olbert and Werner, 2019).
LO3
Demonstrate an understanding of the significance of digital and new technologies in an ever-
changing global business environment and the challenges these present to managers
In today's modern world as digitalization has been taking place various technology is
been developed by an organization. Also development of new technologies is taking place
various technologies is invented. The most popular technology to be used is based over by an
business is artificial intelligence that has been used in an business to introduce various kinds of
technology that has made an organization perform business functions and skills in appropriate
manner. Artificial Intelligence (AI) is poised to have a transformational impact on business.
Information technology is no longer just about process automation and codifying business logic.
Instead, insight is the new currency, and the speed with which we can scale that insight and the
knowledge it brings is the basis for value creation and the key to competitive advantage.
According to Gartner, AI will be one of the top five investment priorities for more than 30% of

CIOs globally, by 2020. Many organizations are still early in their data science journey and are
trying to understand how AI can transform their businesses (Kitsios and Kamariotou, 2019).
Artificial Intelligence has helped in making possible for machines to work as per the
latest technology and also understand various new outputs with inputs in order to perform human
like task. Further Artificial Intelligence works over data that has been collected and installed
within it. There is an intelligent algorithm that is used to be put within software to learn
automatically by making reorganization over patterns as per the data feeded within it. AI works
by combining large amounts of data with fast, iterative processing and intelligent algorithms,
allowing the software to learn automatically by recognizing patterns in the data. Forms of AI in
use today include, among others, digital assistants, Chabot’s and robots.
In artificial intelligence various methods is been used for making evolution over technologies
according to the main fields that is important for an machine to be developed:
 Machine Learning: In this neural network and statistical analysis is deal over finding
hidden insights in data without making programs over generating a conclusion. This is been
followed in relation to building analytical model.
 Natural Language Processing: As per this the capability to make analysis over
generating an outcome in the form of language understood by human and also includes speech
within it.
 Deep Learning: In this variation is been developed in the learning methods and software
development of a machine. It makes capabilities to be developed in them like analyzing
customers more easily and calculating amount to be paid immediately. Common applications are
included within it that is image and speech reorganization.
Many businesses has been using artificial intelligence in order to easy down different process
and this has helped in reducing costs, increases efficiency, generate more revenue and enhances
experiences of customers. This makes benefits to be generated in an organization that has been
looking and makes smart technologies to be embedded within business. Though artificial
intelligence is new technology but it has still helped business and organizations to reap new
rewards and develop better consistency (Kedziora and KIVIRANTA, 2018).
Artificial intelligence impact on business
As in modern world business and techniques to business is enhancing day by day and if
artificial intelligence used is helpful in developing business in much way by:
 Saving time and money through automating and optimising routine that is processing
tasks to be completed in no time.

 This makes productivity to be increased that makes operations to be more effective with
efficiencies.
 It helps in developing of faster business decisions that is based over outputs form
congestive technologies .
 Avoided mistakes that reduces human error.
 Insight is to predict customer preferences and offering better personalized experiences.
 Large amount of data generates quality leading towards growth of an organization.
 This makes maximization of sales opportunities and increases customer base.
 Growth becomes wider and analysis is been given over advice to be taken from business
perspective.
Challenges to be faced by mangers to implement artificial intelligence in a business given as
follows:
Bias this is one if the biggest challenges that is been faced by managers when implementing of
artificial intelligence. As artificial intelligence works over data and facts. If by ant chance wrong
data is being embedded then it can lead to making an organization perform unethical means and
infringe in privacy of an individual through hacking etc (Gauthier, Bastianutti and Haggège,
2018).
.
Computing power managers of an organization should build artificial intelligence and
makes deep learning possible. This can be a challenge in a way that it can lead upon making an
organization generate funds through illegal means. That gives rise to corruption and illegal
activities in business. Also if artificial intelligence is not used in proper manner then it can lead
to cyber threat for a business.
CONCLUSION
From the above discussion it can be concluded that a digital business is one of the most
important part of today’s world and has helped in enhancing business. Also there are various
developments made within business. Further artificial intelligence is new form of technology
used in business by an organization enhances various aspects of business. In the end challenges
faced by managers is been explained.

REFRENCES
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Kitsios, F. and Kamariotou, M., 2019, September. Digital Business Strategy and Information
Systems Planning: Determinants of Success. In European Conference on Innovation and
Entrepreneurship (pp. 514-XX). Academic Conferences International Limited.
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Park, Y. and Mithas, S., 2020. Organized Complexity of Digital Business Strategy: A
Configurational Perspective. MIS Quarterly. 44(1).
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Scuotto, V and et. al. , 2017. Shifting intra‐and inter‐organizational innovation processes towards
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Scuotto, V and et. al., 2019. The shift towards a digital business model: A strategic decision for
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