The Potential Utilisation of Artificial Intelligence (AI) in Enterprises

Abstract

Artificial Intelligence (AI) is a part of computer science that aims to create and develop intelligent machines. For AI to function and perform, it involves the development of algorithms and models that enable computers to learn from the data, identify patterns, and make predictions. Research indicates that AI can increase private industry output, decision-making, and effectiveness. AI can analyse vast amounts of data quickly and precisely, as well as identify patterns and trends (Marr, 2018). This makes AI well-suited for occupations requiring data processing and analysis, such as data entry, analysis, and customer service (Sharma, 2019). AI can also be used to automate processes and tasks (Sharma, 2019). Research implies that AI will impact jobs (WEF, 2018). This may involve providing individuals with training to improve their skills and knowledge to prepare them for occupations involving AI technology, as well as developing regulations and processes to ensure that AI is utilised in a fair, transparent, and accountable manner (WEF, 2018). An evaluation of AI's limitations and to ensure forecasting data is accurate and trustworthy (Marr, 2018). It is also crucial to consider the possibility of bias in AI systems and adopt precautions (WEF, 2018). Furthermore, AI offers many benefits but also presents problems, including the prospect of job loss, the likelihood of bias in AI algorithms, privacy, security, and ethical concerns (WEF, 2018).  By identifying how enterprises are utilising AI, what is the impact of implementing AI in enterprise operations, how does it affect the efficiency, productivity, and overall performance of the business. This exploratory research begins with an insight into understanding AI, addresses how AI has been utilised and implemented into businesses, the ethical and societal considerations, and potential benefits and challenges businesses may confront. Ten interviews with leading industry experts using AI, followed by focus groups, have generated information. opinions, and key insights. By utilising the software Nvivo this quantitative research presents key themes and content findings to assist in educating enterprise personnel during AI decision-making and implementation stages.