Paradigm of Artificial Intelligence in Business Management

Year : 2024 | Volume :14 | Issue : 01 | Page : 26-30
By

Shikha Deshmukh Gavhade

  1. Assistant Professor Department of Electronics and Communication, Corporate Institute of Management, Bhopal Madhya Pradesh India

Abstract

Artificial intelligence stands out as a prominent trend in today’s technological landscape, enabling machines to engage in human-like thinking, learning from experiences, adapting to new inputs, and making decisions. This capability facilitates rapid and error-free results, akin to human rational decision-making. In the contemporary business landscape, which is often regarded as a cornerstone for national development, artificial intelligence plays a pivotal role. Businesses, ranging from small-scale enterprises to medium-sized ones (SMBs), are reaping the benefits of AI by reducing costs, enhancing performance, bolstering security, and efficiently monitoring various business functions. These aspects are crucial for the establishment and sustenance of businesses within the economy. To deal with such issues, artificial intelligence can work as a catalyst. The main objective of this work is to attain competitive advantage and analyze the profit of adopting AI in business firms for their intensification and development. The rapid advancement of artificial intelligence is compelling strategists to reconfigure business models, leading to the widespread incorporation of AI into various business processes. This trend provides valuable insights into the deployment and consequences of AI for business leaders, managers, technology developers, and implementers. The exploration encompasses considerations of cultural heritage values and risk assessments for conservation and mitigation. Additionally, it delves into the evaluation of onshore and offshore technological capabilities, incorporating spatial equipment to address marketing and retail strategies, as well as applications in insurance and healthcare systems.

Keywords: Artificial intelligence, machines, business strategies, innovation, business

[This article belongs to Current Trends in Information Technology(ctit)]

How to cite this article: Shikha Deshmukh Gavhade. Paradigm of Artificial Intelligence in Business Management. Current Trends in Information Technology. 2024; 14(01):26-30.
How to cite this URL: Shikha Deshmukh Gavhade. Paradigm of Artificial Intelligence in Business Management. Current Trends in Information Technology. 2024; 14(01):26-30. Available from: https://journals.stmjournals.com/ctit/article=2024/view=138266





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Regular Issue Subscription Review Article
Volume 14
Issue 01
Received January 25, 2024
Accepted March 15, 2024
Published April 3, 2024