Impact of Artificial Intelligence on Various Business Sectors

This report examines the impact of artificial intelligence (AI) on various business sectors. It explores the potential of AI, including the use of robots in automating tasks and improving efficiency, as suggested by research from sources like De Masellis and Nilsson. The report considers both the benefits and drawbacks of AI, highlighting sectors that may gain from automation, such as education and information technology, and those that may be negatively impacted, like finance and retail. It also touches on the job market implications of AI, referencing PwC analysis on job creation and destruction. The report's conclusion provides a balanced perspective on the role of AI in shaping the future of business.

ACADEMIC
PARAGRAPHS

Table of Contents
Source 1...........................................................................................................................................3
Source 2...........................................................................................................................................3
References........................................................................................................................................4

Source 1
Artificial intelligence aims at bringing innovation in business activities by introducing robots.
According to survey being held by more than 350 artificial intelligence researchers, it is said that
robots can perform the tasks better than humans(De Masellis and et.al., 2018). Artificial
intelligence developed in robots will enable them to translate languages better than human beings
by the year 2024. Robots will be able to write high- school essays by 2026 and they will be able
to drive truck by 2027. Artificial intelligence will allow robots to work in retail markets by the
year 2031 and robot will also be able to do surgery by 2053(Nilsson, 2014). In fact, artificial
intelligence will allow robots to handle all human jobs in the coming next 120 years. Experts
also state that by 2060, artificial intelligence will beat humans at everything.
Source 2
PwC and OECD states that sectors involving more complexity and specialisation will get
benefited from automation and involvement of artificial intelligence in activities. The education
sector, information and communication sectors will get the maximum benefits of artificial
intelligence as it will help in handling complexity and will be at less risk from automation.
Scientific and technical work will also get benefit of automation(Russell and Norvig, 2016).
Artificial intelligence would also benefit accommodation and food services in handling the tasks
and activities in an automated manner.
Some sectors would get badly influenced by automation and involvement of artificial
intelligence in activities(LEDEZMA ESPINO, 2018). The sectors which have repetitive and
administration task will not get benefits of artificial intelligence. Finance, insurance, retail and
construction sectors will not get much benefit of automation in the business activities. Transport,
manufacturing and public administration sectors will also get affected by the involvement of
artificial intelligence in activities(ARTIFICIAL INTELLIGENCE IN BUSINESS, 2018).
Artificial intelligence creates and also destroys many jobs by getting involved in business
activities in various sectors and it is stated by PwC analysis.

References
Books And Journal
De Masellis, R. and et.al., 2018, January. Introduction to the 1st International Workshop on
Business Process Innovation with Artificial Intelligence (BPAI 2017). In Business
Process Management Workshops: BPM 2017 International Workshops, Barcelona,
Spain, September 10-11, 2017, Revised Papers(Vol. 308, p. 2). Springer.
LEDEZMA ESPINO, A.I., 2018. Artificial intelligence in business.
Nilsson, N.J., 2014. Principles of artificial intelligence. Morgan Kaufmann.
Russell, S.J. and Norvig, P., 2016. Artificial intelligence: a modern approach. Malaysia; Pearson
Education Limited,
Online
ARTIFICIAL INTELLIGENCE IN BUSINESS. 2018. [ONLINE]. Available
through:<http://learning-compass.teiath.gr/jspui/handle/123456789/381>