The Impact of Artificial Intelligence on Business: Opportunities and Challenges
4 Pages Posted: 17 Apr 2023
Date Written: April 2, 2023
Abstract
Artificial Intelligence (AI) has emerged as a disruptive technology that is transforming the way businesses operate. This research paper explores the impact of AI on business, identifying the opportunities and challenges that it presents. The paper also provides insights into the current state of AI adoption and its potential for future growth. Material and methods include an extensive review of literature, analysis of case studies and surveys, and expert interviews. The results of the study indicate that AI has the potential to drive significant improvements in business operations, including increased productivity, cost savings, and enhanced decision-making. However, the adoption of AI also poses several challenges, including data privacy and security concerns, ethical considerations, and potential job displacement. The paper concludes by providing recommendations for businesses looking to adopt AI and highlights the need for a collaborative approach between businesses, policymakers, and other stakeholders.
Keywords: Artificial Intelligence, Business, Opportunities, Challenges, Adoption, Productivity, Decision-Making, Data Privacy, Ethics, Job Displacement
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