Businesses, small and large alike, are increasingly realizing the importance of implementing artificial intelligence (AI) to achieve both their short and long-term goals. Identify AND discuss two (2) possible benefits to businesses of implementing artificially intelligent
- Businesses, small and large alike, are increasingly realizing the importance of implementing
artificial intelligence (AI) to achieve both their short and long-term goals.
Identify AND discuss two (2) possible benefits to businesses of implementing artificially intelligent systems in today’s world
Solution 1-
Businesses of all sizes, small and large, are becoming more and more aware of the value of integrating AI to meet both their immediate and long-term objectives. AI technologies have the potential to significantly change how organisations are structured by:
A rise in productivity and customer satisfaction
lowering total business expenses
enabling a faster rate of expansion and better consumer understanding
lowering the likelihood of cyberattacks.
Businesses can obtain a competitive edge over their rivals in the market by implementing AI in the business world. With the usage of exponential technologies, the rate of technological innovation is increasing. As a result, market dynamics are changing, and organisations who employ the most adaptable and cutting-edge strategies will have a considerably higher chance of becoming financially successful.
Additionally, as users become more active in the online market, a surplus of behavioural data is generated that offers useful insights into users' motivations, personality traits, buying patterns, hobbies, and a variety of other things. As a result, companies that use AI technologies will be able to use this data to inform their marketing and product campaigns, user experience, and market insights.
For those who are willing to investigate the usefulness of developing technologies as business tools, the application of AI within the firm could ultimately result in tremendous benefits. Because of the broad and growing effects that these technologies have, they will be able to help businesses in novel and exciting ways as they advance.
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