Digital Business & New Technologies: Strategies and Implementations

This report explores the application of information and technology in digital business, contrasting it with traditional business operations. It highlights the role of Artificial Intelligence (AI) in accelerating business growth, cutting costs, and overcoming challenges. The report emphasizes the increasing d...Read More

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Digital Business &
New Technologies

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Table of Content
 Introduction
 Summary of findings
 Short set of conclusion
 Conclusion
 References

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Introduction
 Digital business is a type of business
which includes the application of
information and technology in
different business operations (Borges,
2021). In the recent times major
famous companies are shifting from
traditional businesses to perform
accurate and quick operations.

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Summary of findings
 From the coursework, it is learnt that the
application of Artificial intelligence helps a
business to grow at rapid speed in the
marketplace. The Artificial intelligence helps a
business to cut the cost associated with major
objectives achievement in a specified period of
time. In the long run, artificial intelligence also
helps and supports a business to overcome
various issues and challenges (Härting, 2019).

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Short set of conclusion
 Artificial business and its
importance to traditional business
In the current competitive scenario, it is important for a
traditional company to shift from traditional business
practices to advanced in order to lead the marketplace.
Major successful international and national companies
nowadays are involved in developing effective practices
which helps in developing information and technology.

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 Demands for IT professionals in
digital business:
There is increasing opinion and development of
Artificial intelligence which states the demand of
IT professional is increasing at a faster pace. For
instance, in 2018 in United States around 1600
senior commercial enterprise leader are asked for
AI but among which only 19% of people has
knowledge about it.

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 Use of digital technology
The digital technology will help the company
to deliver best products and services by
applying major tools and techniques. Company
will also develop an effectiveness in operations
and functions with the use of digital
technology.

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 Application and need of Artificial intelligence
in global business operations
In many different organisations, the artificial
intelligence is playing a major role by developing
global business operations. Major companies in the
international marketplace performs huge investment on
digital technology and its adaptation. The companies
should also take into account organisational policy
which is designed for long term growth of the business
entity.

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STP(Segmentation, targeting, positioning)
 Segmentation- The segmentation is a major technique
in the STP analysis which includes dividing of market
into different parts.
 Targeting- The art of targeting includes, selecting
appropriate approach for identification of target
customers of the company.
 Positioning- In the functioning of a business at the
marketplace, it is important to select a good place for
selling the product.

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Conclusion
 From the above stated report it can be concluded that digital business is a modern
practice of conducting business with major advantage to succeed at the
marketplace. This project concludes that it is essential for the company to manage
all operations and functions with the help of digital technology to remain
competitive at the marketplace.

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References
 Borges, A. F., Laurindo, F. J., and Mattos, C.A., 2021. The strategic use of artificial
intelligence in the digital era: Systematic literature review and future research
directions. International Journal of Information Management, 57, p.102225.
 Härting, R. C., Reichstein, C. and Sochacki, R., 2019. Potential Benefits of Digital Business
Models and Its Processes in the Financial and Insurance Industry. In Intelligent Decision
Technologies 2019 (pp. 205-216). Springer, Singapore.
 Kovynyov, I. and Mikut, R., 2019. Digital technologies in airport ground
operations. NETNOMICS: economic research and electronic networking, 20(1), pp.1-30.