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Artificial Intelligence in Business and Data Analytics Paper
Artificial, Intelligence, Business, Data, Analytics, Paper
The phase of digital revolution and globalization business intelligence has rapidly developed and now it is impossible to go through daily business news without finding an issue relating to the same. Some of the key and globally know development include Data Quality Management (DQM), data visualization, artificial intelligence, collaborative business intelligence and data-driven culture. This article, the primary focus will be on artificial intelligence (AI) as one of the major and current trends in business analytics.
AI involves incorporating human intelligence in machines in such a way that they can perform human tasks through computerized commands or programs in an adjustable and flexible way according to the situation at hand (Makridakis, 2017). Despite that this trend is still in its early stages of development there are several areas in business performance and data analysis that that investor now fully depends on to enhance accuracy and efficiency in their performance capacity.
For example, it has always been known that analysis data in a massive and tedious work but AI comes with the benefit of changing that perspective by proving automated programs that can efficiently analyze, evaluate and provide results within a fraction of a second. Surprisingly AI does not only provides result but also identifies all possible anomalies in the system hence making it easier for businesses to make the appropriate adjustment with better information for making decisions.
Businesses such as Google, Microsoft, IBM, and Amazon continue to invest more in this field. Surprisingly, some suggestions indicate that AI will also lead to new risk exposes in the security and human labor market (Makridakis, 2017). These two perspectives have a great effect on human daily life and therefore it is crucial to understand this technology.
How it will affect business and what investors and other stakeholders should watch out for in the future as we continue to implement it in various field and business operations such as data protection, management, and planning in businesses.
Makridakis, S. (2017). The forthcoming Artificial Intelligence (AI) revolution: Its impact on society and firms. Futures, 90, 46-60.