The Impact of Technologies on Business: An Overview

This essay explores the transformative impact of technologies on business operations, focusing on big data analytics, artificial intelligence, and robotics. It examines how these technologies enhance organizational productivity and profitability by improving decision-making, optimizing processes, and providing competitive advantages. The essay highlights the role of big data in analyzing market trends and consumer behavior, while also discussing the applications of AI in areas such as customer service and cost reduction. Furthermore, it addresses the influence of these technologies on business models and the challenges associated with their implementation, such as cost and security concerns. The report provides insights into how different sectors, including healthcare, retail, and banking, are leveraging these technologies to improve their services and achieve their objectives. It emphasizes the importance of innovation and the ability to adapt to new technologies in order to succeed in the current market scenario.

ESSAY

Table of Contents
INTRODUCTION...........................................................................................................................3
ROLE OF TECHNOLOGIES..........................................................................................................3
Big Data Analytics......................................................................................................................3
Artificial Intelligence..................................................................................................................6
Robotics......................................................................................................................................8
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
This report focuses on importance of technologies in current market scenario and how
changes in technologies have affected organisation productivity and profitability. Recent
development in technology have made organisation functioning smooth, effective and efficient.
Technologies have played vital role in various department of every organisation as technology
these days plays vital role in effective and efficient working of organisation. Technologies have
enhanced performance of organisation and also helped in making effective and efficient business
decision which help in boosting profits for organisation. Artificial intelligence and robotics are
some example of changes in technologies and this report help in understanding how big data,
artificial intelligence and robotics affected every business sector and influenced business
organisation to use these technologies in order to achieve their business goals and objectives.
This report focuses on importance of innovation in business and how technologies play vital role
implementing innovation in organisation or in business. Technologies are used to enhance
growth of business and also help in various scenarios as technology help in improving
communication and also have major impact on business operations. Technology help in
optimizing management and plays vital role in optimizing business operations and efficient
business operations. Globalization have made major effect as it increased the reach to new
technologies and enabled organisation to use technologies to improve their performance and
functioning (Attaran and Gunasekaran, 2019).
ROLE OF TECHNOLOGIES
Big Data Analytics
Big Data analytics is explained as process of examining large data sets which contains
variety of data and which is known as Big data. It is used to uncover hidden patterns, correlations
which are hidden, helps in understanding market trends and also assist in understanding
consumer need and preference it also includes various useful information which help
organisation and different business sector in boosting its performance. Big Data analytics help
organisation and business sector in different aspects as it assists in planning effective marketing

campaigns, discovery of new opportunities which help in generating revenues, more effective
and efficient operations etc. Big data analytics are implemented by organisation in order to make
effective business decisions (Chen and et. al., 2019). Analysis of this data is possible by data
scientist and professionals which help organisation in understanding data and effectively use this
data for maximizing organisation productivity and profitability. Big data analytics provide real
time analysis for organisation and help in analyse their data for understanding position of
organisation in market. High performance data mining, predictive analysis and text mining
organisation that uses Big data analytics are more likely to make innovation and it help
organisation in implementing effective business decisions. Organisation focuses on utilising Big
data analytics solutions to optimize their operations process and achieve their goals and
objectives effectively.
Organisation focuses on narrow their Big data in order to acquire relevant information which can
help organisation in making effective business decisions (Dezi and et. al., 2018).
According to Mila Slesar ( 2021), Big Data includes unstructured, semi-structured and
structured data from which relevant information is gathered and analysed by organisation in
order to make effective and efficient decision for organisation. There are different pros and cons
of Big Data for organisation which includes several points which are mentioned below:
 Advanced Analytics –These type of analytics help in making decision for organisation
by analysing insights of data and make decisions which help in organisation growth and
innovation. Big data help organisation in understanding patterns, trends and sentiments
which help in understanding consumer need and preference as well as their behaviour.
Big data helps in analysing insights of data which help in development of strategies for
organisation and focuses on monitoring products and services by the help of Big data
which help in maximizing conversion rates.
 Competitive Advantage –Flow of information help in analysing current market trends
and help in adapting needs of organisation. Every organisation need detailed information
about their competitors to gain insights about their products and strategies it help
organisation in understanding about their rivals and by implementing new strategies such
as development of new products, price fluctuation and targetting new consumer group
helps organisation in gaining competitor advantage over their competitors.

 Customer Experience –Understanding consumer needs and preference help organisation
in satisfying their consumer and helps in retaining them with organisation. Customer
relationship systems, loyalty card information, social media and other points of consumer
contact help in gathering business information. By the effective analysis of data,
organisation focuses on understanding consumer needs and preference as it help in
understanding issues and errors. By the help of data organisation understand about
consumer need and preference.
 Increased productivity –Big Data help in bringing operational efficiency in organisation
and Big data also assist organisation in reducing costs of organisation which helps
organisation in maximizing productivity and profitability of organisation. It helps in
making operations effective and efficient in an organisation. Appropriate big data
solution can reduce time taken and also help in reducing wastage of resources and assist
in effective and efficient use of resources.
From the above literature review it is clear that Big data supports organisation in
maximizing productivity and profitability of organisation and help in making effective business
decision for organisation. But there are some points which shows that it is also disrupting
business model and adapting to new technologies have made some impact on business model of
organisation which are mentioned below:
 Talent and data are more crucial nowadays as technology is easily available to all
organisation and technology becomes crucial driver for organisation in gaining
competitor advantage. In current scenario core technology is easily available to every
organisation and it has raised need of user data and their tech employees which are main
drivers of competitor advantage (Jain and Yadav, 2017).
 Technology helping organisation in transforming their business as organisation focuses
on adapting to new technologies which is helping them in understanding consumer need
and making changes to products and services they provide to their consumers.
 Competition among digitally enabled organisation are intensified as cloud is making
easier for organisation to enter into market and it is helping organisation in expanding
their offerings and competing against other organisation.
In current scenario Big Data have affected every industry and sector as Big data is used to
understand market scenario and also help in analysing insights of competitors. Big data is

assisting industry by changing their standards and boosting their profits by use of Big data.
Major industries such as healthcare, retail, finance, banking etc. are providing effective consumer
services which is helping them in boosting their profits (Jakšić, Rakićević and Jovanović, 2018).
 Healthcare – In healthcare sector companies are using Big data to analyse data and to get
insights about patients medical history and information regarding their medicine and
prescription from their doctors. Collected information helps in identifying patients which
needs treatment or at risk and this data also help effective treatment for patients by
reducing patients risk.
 Retail – Big data is used by retail sector in order to improve consumer personalized
experiences and help retail sector companies to provide products according to need and
preference of consumers. Collected data help in developing effective marketing strategies
and help in delivering quality services to their consumers (Lievesley and et. al., 2017).
 Banking – Big data help banks in analysing consumer engagement in online banking and
what services are mostly used by consumers. This data help banks in providing effective
services to their consumers and help in making appropriate changes according to need. It
also help banking sector in boosting their revenues and assist in maximizing productivity.
Artificial Intelligence
Artificial intelligence is explained as simulation or image of human intelligence in
machines that are based on programme which work is to think like human and understand their
actions and mimic them. Artificial intelligence these days used into businesses which includes
workflow management to trend predictions as Artificial intelligence assists organisation in
different operations and help in providing new business opportunities for organisation. Artificial
intelligence help in improving consumer services as virtual assistant programmes help in
providing real time experience to user. It help organisation in maintaining workload of
organisation by using smart sensors and algorithms to distribute work into different categories. It
also help organisation in optimizing logistics of organisation by optimizing best routes for
logistics. Performance of organisation can also be predicted by use of artificial intelligence and it
help organisation in analysing goals of organisation (López-Pintado and et. al., 2019). Other
important use of artificial intelligence in business includes predicting behaviour by using ML
algorithms and managing and analysing data through mining of data effectively and efficiently
which help in getting effective results for brand or for consumers. It also help in generating

revenues for organisation and make operations of organisation effective and efficient by
critically analysing the data which also assist in maximizing productivity and profitability of
data.
According to Maria MacAraig (2019), Artificial become more important in growth of
organisation and it played vital role in development of various companies in market. There are
various benefits of Artificial Intelligence according to author which are mentioned below:
 Real – time analytics – Data analysis is considered as factor which can affect business
functions of organisation. Analysis of data take lot of time and organisation need
effective results in order to make effective business decision for organisation. Artificial
intelligence focuses on gathering data and providing analysis of data for organisation. AI
help in getting effective data by effective analysis.
 Improving consumer experience – Several organisation revenues are based on their
interaction with consumers and in order to make that interaction effective and efficient
organisation focuses on using Artificial intelligence as tool to make interaction better
among organisation and consumer. AI helps in solving complex issues and help in
reducing strain upon IT resources of organisation.
 Cost reduction – Artificial intelligence also assist organisation in reducing cost of
organisation as AI helps organisation in monitor work process for 24/7 and it also assist
organisation in understanding need of maintenance and updates to avoid any kind of
breakdown.
There are various cons of Artificial Intelligence which are mentioned below:
 Cost – Artificial intelligence may help in cutting the cost for organisation but it is also
considered as costly because its development need high costs. Not all organisation are
ready to invest in this technology in current scenario.
 Lack of creativity – Artificial intelligence play vital role in solving complex problem for
organisation but still does not have human mind which affects organisation in terms of
creativity. It is considered hard to delegate creativity from the programme (Nasiri and et.
al., 2018.
 Security – Every programmes have setback and this could affect security of organisation
data and it is very important for organisation to consider security of data as loss of data
can result in ineffective business decision.

From the above mentioned above literature review it is clear that Artificial Intelligence
plays vital role in analysis of data and help organisation in boosting its revenues and maximizing
productivity and profitability of organisation (Reyani and et. al., 2018). There are some points
which shows that it is affecting business model of organisation and impact of this technology on
business model are mentioned below:
 Artificial Intelligence is affecting several organisation as small level organisation cannot
afford this type of technology as it is very costly and this is affecting business of small
level organisation
 Artificial intelligence may help organisation in taking effective business decision but it
does have some issues regarding its security which can affect organisation data and its
security and it can affect organisation functioning and performance (Schneider, Leyer and
Tate, 2020).
Artificial intelligence is used by different sector companies and it affected sector
according to their needs and want. Artificial intelligence is considered as effective technology for
every sector as it help different sector organisation to achieve their goals and objectives.
Different sectors such as Banking, Retail, Manufacturing and Technology.
 Banking – Banking sector is affected by implementation of artificial intelligence as it
includes core banking operations as well as consumer experience. Artificial intelligence
help in making the business process effective and help in eliminating manual
interventions which includes document reviewing etc.
 Retail - Artificial intelligence help retail sector in driving effective and efficient supply
chains which are optimized by focusing on better forecasting which is assisted by
machine learning.
 Healthcare – Artificial Intelligence has just introduced into healthcare sector and it is
helping healthcare sector in identifying diseases and help in identifying drug safety and
its uses. Artificial intelligence also help healthcare sector in identifying patterns in the
population. AI assist healthcare sector in keeping and exchanging health data of patients
which will help in attaining effective results .
Robotics
Robotics is explained as branch of technology that deals with design, construction,
operation and application of robots. Use of robots in organisation operations have made positive

impact and it also helped in bringing efficiency in organisation. Uses of robotisation in
workplace have major impact but it doesn't have received major attention (Shaheen and Cohen,
2018). In organisation robots help in performing activities and focuses on completing the task
reliably and effectively. Robots also help organisation in performing tasks which can be
dangerous for humans. In current scenario robots only work in industrial settings or
manufacturing plants. Developers of robot focuses on making robots which have sensors and
focus on developing the abilities in robot which help them in working with people. Robots are
machines that are programmed to complete various tasks effectively and efficiently for
organisation. It help in bringing safety and efficiency in organisation by doing task which are
dangerous for humans. Robots are majorly used in manufacturing plant to carry out heavy
material from one place to another and play vital role in production and packaging of products.
Robots are generally used in heavy industries to make the operations smooth and effective.
Robotics help in utilizing safety for humans as it help in using heavy machinery and machinery
that runs at high temperature and objects which can harm human being. Robots help in removing
risk factor at workplace (Singh, 2017).
Robots are considered as force which doesn't need break or don't need any kind of rest.
Robots always completes their task effectively and efficiently as it help manufacturing and
production plant on completing their task within desired timeline. Robots also help in bringing
quality and as robots deliver perfect work for organisation.
According to Madison Garcia (2017), Automation focuses on providing productivity and
maximizing efficiency in workplace. Automation systems is also effective because it help in
delivering quality work by working for hours and create products that is effective and consistent.
There are some pros and cons of automation which are mentioned below:
 Productivity and Consistency – Automation help in bringing efficiency in organisation
and make the operations of plant effective and efficient. It can work for long hours which
help in making effective product.
 Fewer Injuries – Automation system help in bringing safety for its workers as system
and robotics work in every temperature and circumstances that are not favourable for
humans. Fewer injuries help in maintaining less turnovers, high morale etc.
 High costs – Automation may reduce variable cost over time but it does affect
development costs. At initial level the costs may have affect on organisation as it can

affect the finances of organisation and if the organisation doesn't have required finances
then automation is off the table for organisation.
 Lack of Flexibility – Automation can be considered as effective and productive but it
does have impact on product creation as it needs flexibility and innovation. Tasks that
require effective dexterity may vary and can affect automation process. Lack of
flexibility and innovation in automation can considered as setback of automation.
From the above literature review it is clear that Robotics plays vital role in manufacturing
and production plant as it makes the operations effective in plant and also help in making process
of manufacturing and production plant effective and efficient as robotics also assist in bringing
safety in process and delivers quality performance. There are some points which help in
understanding that robotics is disrupting business model and those points are mentioned below:
 Robotics which may considered as disruptive because of its uncertainty and high risk.
Automation has required to make big changes in organisation and these changes includes
industrial robots which are considered as expensive and the need in current scenario
shows that lot of changes related to process have affected the investment of organisation.
Robotics is used by different sector companies and it affected sector according to their needs and
wants. Robotics is considered as effective technology in manufacturing and production plant.
Different sectors which are affected by this technology are Healthcare, Agriculture and
Manufacturing.
 Healthcare – Robotics have potential to affect variety of practices such as surgery,
therapy, rehabilitation etc. Robotics in healthcare help in making the work easier and help
patients in rehabilitation which are suffering from strokes or injuries related to spinal
cord (Sivarajah and et. al., 2020).
 Agriculture – Robotics in agriculture help in improving the productivity and helps in
maximizing productivity and profitability. Tractors which are self-guided by GPS are
used to make operations effective such as thinning, mowing, pruning etc.
 Manufacturing - Robotics in manufacturing is used to increase productivity and
maximize efficiency during operations. Robots are used to complete the task which are
repetitive in nature and delivers quality performance by completing the task within
desired timeline.

CONCLUSION
This report focuses on role of technologies in organisation and how technologies are
affecting business and organisation in current market scenario. These days technology
development have affected organisation business as use of technologies is helping organisation
in maximizing the productivity of business and contributing in boosting profits of organisation.
This report includes information on automation, artificial intelligence and big data as these three
help in understanding importance of technologies in understanding about market and how these
three technologies contributing in organisation growth and development. Technologies these
days are used as a tool to make operations effectively and increase the productivity of
organisation because effective operations help in business growth which help organisation in
gaining competitor advantage over competitors.

REFERENCES
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