Business Options for IBM

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San Francisco State University *

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MISC

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Business

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Nov 24, 2024

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docx

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Uploaded by PresidentLightningAardvark11

1 Business Options for IBM Student’s Name Institution Affiliation Professor Date

2 BUSINESS OPTIONS FOR IBM In the rapidly evolving landscape of technology and business, the integration of Artificial Intelligence (AI) and Robotics has emerged as a game-changer for companies striving to enhance efficiency, customer experiences, and operational capabilities. It is crucial to look into the dynamic realm of AI and Robotics, focusing on their potential applications within IBM. The proposals encompass AI-enhanced customer support, AI-powered predictive maintenance for manufacturing, and Robotic Process Automation (RPA) tailored for the financial services sector (Caner, S., & Bhatti, F., 2020). Each proposal is backed by a rationale that underscores IBM's unique capabilities in these domains. AI-Enhanced Customer Support IBM has the potential to provide AI-enhanced customer support solutions to businesses. This proposed AI system would be designed to leverage natural language processing (NLP) and machine learning technologies to deliver automated responses and assistance to customer queries. The rationale behind this proposal is grounded in IBM's existing strengths in the field of AI, particularly its renowned Watson platform. By extending this technology into the realm of customer support, IBM can streamline customer interactions, significantly reduce response times, and ultimately enhance user experiences (Caner, S., & Bhatti, F., 2020). Such a system has the potential to revolutionize customer service, making it more efficient and user-friendly. AI-Powered Predictive Maintenance for Manufacturing IBM can embark on the development of an AI-powered predictive maintenance system tailored for manufacturing industries. This AI system would harness the power of sensors and IoT data to predict maintenance needs within manufacturing equipment. Its primary goal would

3 be to proactively identify machinery issues, consequently reducing downtime and cutting down on maintenance costs. This proposition aligns with the growing need for predictive maintenance solutions within the manufacturing sector, particularly as Industry 4.0 continues to reshape the industry. IBM, with its strong background in AI and analytics, is well-positioned to develop a robust system that optimizes equipment maintenance and operational efficiency. Robotic Process Automation (RPA) for Financial Services IBM could explore the implementation of Robotic Process Automation (RPA) solutions tailored explicitly for the financial services sector. This involves deploying software robots that can efficiently automate routine, rule-based tasks within the banking and finance industry. The suggested RPA system, IBM Automation Anywhere, has the potential to streamline operations significantly. By doing so, it can enhance operational efficiency, reduce errors, and improve compliance within financial institutions. The adoption of RPA in this sector is a growing trend, and IBM's expertise in automation technology makes it well-suited to address the unique challenges and opportunities presented by the financial services industry. Comparison with Other Companies Various companies, including UiPath and Blue Prism, offer RPA solutions similar to IBM's Automation Anywhere for automating various business processes. Ethical concerns related to AI decision-making and potential bias are not unique to IBM but are pervasive issues across the industry. IBM has actively taken steps to address these concerns through initiatives like "AI Fairness 360," emphasizing transparency and fairness in AI systems (Nam, K et al. 2021)

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4 Potential Success of Suggestions i. AI-Enhanced Customer Support - The success potential for this proposal is high. IBM's Watson Virtual Agent is a proven technology in customer service. With customization, it can offer efficient and personalized support, which can lead to increased customer satisfaction and reduced support costs. ii. AI-Powered Predictive Maintenance for Manufacturing - The success potential for this proposal is moderate to high. Predictive maintenance is in high demand within manufacturing, and IBM's Maximo Asset Monitor, combined with its analytics expertise, can potentially deliver significant cost savings and operational efficiency to manufacturing clients. iii. Robotic Process Automation (RPA) for Financial Services - The success potential for this proposal is high. IBM Automation Anywhere, when adapted for financial services, has the potential to improve process efficiency and accuracy significantly (IBM RBA, n.d.). Given the increasing adoption of RPA within financial institutions, IBM's offering aligns well with this industry trend. REFERENCES

5 Caner, S., & Bhatti, F. (2020). A conceptual framework on defining business strategy for artificial intelligence. Contemporary Management Research, 16(3), 175-206. IBM Robotic Process Automation. (n.d.). Retrieved from https://www.ibm.com/products/robotic-process-automation Nam, K., Dutt, C. S., Chathoth, P., Daghfous, A., & Khan, M. S. (2021). The adoption of artificial intelligence and robotics in the hotel industry: prospects and challenges. Electronic Markets, 31, 553-574.

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