Abstract
Artificial intelligence is nowadays transforming the industries all around the world. Many businesses are confused whether investing in that new technology and taking a part of this race or taking the risk of losing a competitive advantage in the market. According to data, artificial intelligence AI will lead to an estimated $15.7 trillion, which is 26% increase in global GDP by 2030. This study shows the impact of AI on businesses especially the benefits and ethical challenges by analyzing data collected from a sample of more than 100 random people. Keywords: Artificial Intelligence, business, consumer behavior, marketing strategy, AI investment, ethics DOI: 10.7176/JMCR/81-06 Publication date: August 31 st 2021
Highlights
AI (Artificial Intelligence) is the science of getting machines to mimic the behavior and intelligence of human
A survey made in 2018 conducted by Vistage regarding the role of AI for small businesses revealed that 13.6% of small-to-medium businesses are currently using AI technologies to improve their business operations and customer engagement
Another statistic made by Semrush says that 75% of executives fear going out of business within 5 years if they don’t scale AI
Summary
AI (Artificial Intelligence) is the science of getting machines to mimic the behavior and intelligence of human. Big companies but even small businesses are using technologies of AI by automating their systems to reduce the working time, scheduling management, errors and enhance the productivity and efficiency so they can grow fast. A survey made in 2018 conducted by Vistage regarding the role of AI for small businesses revealed that 13.6% of small-to-medium businesses are currently using AI technologies to improve their business operations and customer engagement. Another statistic made by Semrush says that 75% of executives fear going out of business within 5 years if they don’t scale AI. Since AI is a must introduce in different departments in business, should all businesses use it to exist on the market and what are the limits of this technology while implementation without losing customers trust
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
