Journal of Management Research and Analysis

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Paliwal, Patel, Kandale, and Anute: Impact of artificial intelligence and machine learning on business operations


Introduction

The idea of this analysis explores the impacts of an AI and machine1 learning on the business systems. Trending information about technologies and advancement in machines supercharged by an artificial intelligence2 have very much influenced the globe of labor in the 21st century. We cannot manage the computers, algorithms and the packages that modify everyday tasks and so not possible to imagine our life without them. Artificial intelligence shows that how machines work and way of performance of human by using intelligence so in this way machine may need that mam made intelligence.3 This term Artificial intelligence refers to the making of intelligent laptop or computer system to solve work related problems. AI is the introduction to creating computers and machines suppose and act as human beings. Major changes can be beared by economic structure, relationship operation, profiles of job, and well-established time of operation and different remuneration models. Addition to such corporate world the refresher systems affecting the changes like staff members, society people, education institutions, and legislators are also facing challenges to acquire the changes occurring through this advanced technology. Legislation area unit is insulation behind so the gap between real world and legal framework is increasing. Whereas, the digitization of labor market encompasses wide unfold impacts on property, information technology, product liability, competition and labor, and employment laws, this report is supposed to additionally offer the outline of an elemental transformation of labor market, organization of work and the particular incident to relation between employees. To boot, labor and information privacy protection problem area unit to bethought-about.

Artificial intelligence is a term coined by John McCarthy and United Nations agency had started to work and analyze the topic in 1955 and assumed fact of learning and various domains of intelligence will be shown and thus they are stimulated by a machine. Machine learning is a technique of analysis of information which automatically build the analytical models. ML model area unit at the center of artificial intelligence capability, together with application that changes intelligent engagement, and automation method. Technology will accustom to simulating aspect of human intelligence like languages, forming ideas and abstractions, and drawback determination. Metric capacity unit enabled new applications and used the cases that were troublesome, not possible, below ancient programming concepts. Few sensible samples of a machine learning to embody translation of language, image verification, chat bots, and prophetical analysis. Metric capacity unit will deliver edges to performance outcome and improves the business position within a market. Advantages embodies flexibility to get pattern and correlation, change engagement of client, and ultimately increases the business revenues and growth. Route and traffic shown by Google Maps, value and estimation of rides by writing paper and Uber, tagging friends and suggestions on Facebook, filtering spam folder in our email, recommended sites and products for online searching and cancer detection area unit solely some samples of Artificial intelligence technology in our life.

Applications of Ai and Mi

Retails

The long run of AI in retail is all regarding creating your customers personalized offers, predicting future trends to optimize your stock and improve supplying. However, there's a much bigger drawback AI will influence. The issues like cc tool provide powerful analytics and interactive dashboards to provide vendors a more robust understanding of frauds and devise ways to combat them.

E-Commerce

The Chinese large Alibaba4 and yank reseller Amazon uses AI to show product recommendations. Necessary to notice is that Alibaba sells over Amazon and eBay combined, tons because of its product recommendation tool. Apple is another example, WHO has enforced AI in several of their completely different product to support the sensible assistant Siri. Apple Music additionally bases its recommendations from AI. Facebook has enforced AI in their text understanding engine, Deep Text that uses deep learning to know the content in addition as emotional sentiment of posts created on Facebook.

Literature review

Russell and Norvig5 published of its first edition in 1995, “Artificial Intelligence: A Modern Approach”, Third Edition. In the book of first edition author pointed out some important data such as that algorithm was supported around the computer science which is revolving and thus recent work on artificial intelligence has changed the way of vision and data became new support. Before that other two scientists also worked upon it, and they concluded by using an experiment, that a mediocre algorithm with 100 million words of unlabeled training data outperforms the best known algorithm with 1 million words. In the same way, Hays and Efros demonstrated the similar principle using photos and concluded that the increase in accuracy of the algorithm was directly proportional to the amount of data fed into it.

Ben Coppin6 January (2004) “Artificial Intelligence Illuminated” in his research paper, he told that Artificial intelligence is the study of systems that act in such manner that any observer seems to be very intelligent and strong. Computer science engineers believe that a PC that behaves in an associative and in an intelligent manner is capable of possessing meant states, and so of being really aware and intelligent within the same manner that humans. The weak AI is a smaller amount important concept that PC may be programmed to behave intelligent ways in which to resolve specific issues. And this can be involved with the strategy of weak AI. Pei Wang June7 (2008)” Frontiers in Artificial Intelligence and Applications” in this research paper told in the recent AI analysis, the work targeted at computers that are typically comparable human mind. The addition of human-level suggests that this AI is inferior to it of humans general suggests that thought AI is a special purpose and robust suggests that the standard AI is weak. Though all of those feelings are excusable, they supply totally different reasons once outgoing from thought AI. Driven by the motivations together with to avoid that is not possible missions to get the necessary resources, and to boost its public image, the AI community shifted its aim to additional realistic task like sensible issues and polishing off individual psychological feature functions.

Randy Bean (2017),8 in his research paper entitled “How Big Data Is Empowering AI and Machine Learning at Scale”, he agreed with Mary’s argument, noted that convenient supply to the provision of bigger volumes with sources of information is sanctionative capabilities in AI and machine learning which remained dormant for many years because of less information availability, restricted sample size, associate degree, an inability to investigate huge amounts of information in milliseconds. There are three important ways that during which huge information is currently empowering AI: a. Huge information technology: — Huge quantities of information that antecedent needed pricey hardware and package will currently be simply processed; additionally observed as “commodity similarity.” b. Handiness of huge information sets: — New kinds of information like intelligent character recognition, linguistic sense, voice pitch and image files, climate information, and provision information are currently more and more out there. c. Machine learning at scale: — “Scaled up” algorithm like continual neural network and deep learning are empowering the technology of artificial intelligence.

Lasse Rouhiaine “How Artificial Intelligence will change the world” showed we think that a lot of folks are still unaware of how briskly computer science is growing. AI is nowadays and tomorrow of your business yet as home life. Thus in his author offers huge insight that's bestowed in a simple manner, AI can give further price to your preparation for future technology. The quantity of chapters conjointly offers the author’s opinion for negative aspects of the introduction of AI into the globe. If anyone very fascinated by AI and the way it changes the general world, then it’shelpful.

Materials and Methods

This gift analysis paper relies on secondary information that was collected from numerous analysis papers, websites, observations, books, and news articles. The research methodology used to study is proper scientific literature review method. The analysis presenting as lender part of literature, as these different source area it thought about the for emote levant relating to the study’s downside formulation and purpose. Supported the theories, we are able to build predictions relating to the end result of the analysis.

Objectives

  1. To study the concepts regarding machine learning and artificial intelligence in business operations.[5-6]

  2. To analyze the change in business operations after various applications of artificial intelligence and machine learning.

  3. To study the opportunities and challenges which comes during the use of artificial intelligence and machine learning in business operations

Data analysis

This paper is a qualitative research literature review study where data will be collected by reading articles and literature within the research subject. The choice of conducting research via a literature review has been put through in order to collect proper data and information on the chosen field of research. Conducting this research required us to identify the state-of-the-art literature within the field of research, understanding the terminology and theoretical concepts as well as analysing, interpreting and drawing conclusions from the result of the literature. All of which the method of a literature review is appropriate. During the research phase of the paper, a large amount to facade mic articles, journal sand literature have been scanned through to collect the proper data to conduct this research. In the research process of collecting sources to base this research paper on, Google Scholar and Research Gate have been used to find these sources. In order to find as relevant sources as possible, searches have been made for certain keywords. Thesis a process of converting raw information collected in useful form to study. This research aims to identify automation and modernization adapted by different companies in their business operations. Analysis of data is done by observing the various areas where different companies are using this technology. We had taken some companies for analysis purpose. The area of particular business where the technology is helping to increase efficiency to work and booming to them. Official website is used to collect and analyze the data. Data analysis is done in 3steps.

  1. Data collection

  2. Analysis of data collected

  3. Advantages of artificial intelligence and machine learning

Facebook

Facebook AI analysis (FAIR) may have a team that solved the issues within the encompassing a mistreatment technology of AI to know and develop systems with human-level intelligence. The discovery in an area unit associated with AI, and to realize data from data: theories, algorithms, applications, a computer code infrastructure and a hardware infrastructure. Knowledge from the Gregorian calendar month 2021 news, a variety the amount the quantity of users for Facebook continues to grow because the number of monthly active users currently stands at one.8686 billion, a rise of one % over the previous year. 1.23 billion Folks use over eighteen % of the positioning daily. Mobile adoption is additionally growing at one.74 billion monthly active users, up twenty-one %. The Machine Learning Speech Recognition System permits9 video captions on Facebook, creating them additional accessibility and on the market. Folk’s area unit ready to communicate in any language, translating over a pair of billion stories daily. It builds relationships between folks and native businesses. This enables you to quickly rework a wide picture into 360-degree immersive expertise.10

Google

Recently developers of Google explained the ways hoe they're going to use computer science and machine learning in rising their computer program. This was proclaimed throughout Search on 2020 event wherever that they had discovered improvement in AI within the returning years. In 2018 Google introduced communication method (NLP) that's in addition referred to as metallic element face encoder illustration from transformers (BERT) a language that understands and helps and delivers further proper results throughout Google search. After that, their area unit advancements in an exceedingly very heap of areas further because the way of understanding the language and capabilities of search engine for the queries and other extra information. Prabhakar Raghav, Google head of search and assistant aforesaid that 4 key elements founded to solve queries are under standing world data, the high quality data, and the most effective privacy with security and open access to everyone. Some recent data relating to adoption of these technologies by Google is the given. Hum to search is one of them which permits the user that he can sing the tune of any song he likes and then just by observing that melody Google will search. As the person hums then the machine learning model processes the audio into various sequence and gives the results of songs matching the melody. Accessing very good quality data throughout COVID-19byusingthisfeaturetheresearchersandemployees

Working in had developed such application that users can get each and every minute information about the current situation of pandemic. Google map also showing the updates regarding the areas and path for detailed information about the current situation.

But busy space is a true presently to require care of the social distance. Raghav denote that, “We’ve started testing this technology this year, and by the highest of 2020, we tend to expect that 100% of searches on Google will use this new technology.” serving to the reporters and journal people through advanced feature of the technology as a region of Journalist place, the technology had introduced the largest and brand-new tools that suites and gives facility to reporters as well as journalist people to do their work smoothly and with great ease. Explore data in 3D Visuals: — Google lens can presently acknowledge fifteen billion things, which gives facility to identify the plants and animals as well as different landmarks and provides extra information about them. Lens even translates over hundred languages, like Spanish and Arabic. Lens uses obscure Engine technology that mixes the foremost important information about the product with ample obscure footage.

Amazon

Amazon a victimization artificial intelligence to boosts its client experts and it's been heavily targeted internally. Here artificial intelligence is applied to predict and know the number of clients who are willing to buy product and brand to which they are preferring and runs the cashier free food market. Amazon became the parent of artificial intelligence and automation technology by adopting it in very less time and quickly. In this way company enhances its business efficiencies. Artificial intelligence plays a significant role. It's accustomed to predicting the quantity of consumers willing to shop for a brand-new product to run the cashier-less food market. Amazon AI capabilities an area unit primarily designed to supply bespoken recommendations to its client, consistent with a report. The Amazon a recommendation engine is driving thirty-fifth of its total sales. The biggest role of artificial intelligence in amazon is solving the continue queries of the clients and customers. And to determine the product that they are trying to find out for an e-commerce company. This technology also helps the buyer and customer by suggesting similar products to its customers. Amazon is intent to appear out this puzzle by applying artificial intelligence to the matter.

Microsoft

Microsoft has a vision of using artificial intelligence is regarding individuals, and for individuals. That is regarding amplifying human ingenuity through intelligent technology. Microsoft is one among those at the forefront. It is built as an intelligent practicality into several of its product and services for some time. Once we use the Skype, Office 365, Cortana or Bing, they tend to in all probability encounter them. Once we use the term AI it helps to match searches with helpful result; and additionally it provides the “Cortana virtual assistance” the flexibility to enhance and become a lot of useful over time. With the assistance of Skype, it principally permits chat bots to run on its communication platform, wherever they'll be used for client services or accessing services like weather or travel info. Microsoft has been rolling out AI-assisted options principally designed to supply facilitate with everyday tasks, like to live conversion of recorded speech.

Opportunités

  1. There is an opportunity where we can replace the traditional technology system by the futuristic artificial and machine learning alternatives.

  2. And saying about the opportunities for machine leaning and artificial intelligence in business, it can enable and develop the new products and services by which the future of the world will change.

Challenges

  1. The first challenge is that advancement in technology as we require very good computer systems to adopt such artificial intelligence and machine learning technologies.

  2. Lack of knowledge about both technologies to the people is another biggest challenge so that it is difficult to create the trust among individuals to adopt such change.

  3. Another major challenge is to remove human by machine because there is no comparison about the work of both as we can say humans are more intelligent than a machine so the accuracy is very challenging and there is the biggest challenge in front for us.

  4. As the system will save and manage a very big data so there is a great challenge for security and privacy of it so that it cannot be leaked and misused.

Findings

  1. The artificial intelligence is the technology which is currently in use and adopted by different firms and industries to solve the problems of customers and speak with them. All leading and rising firms an area unit introducing tools of artificial intelligence and a machine learning to include their business promoting campaigns to upgrade the principles of an interaction with customers, strengthen relationships with them, gain the fight and increase revenues.

  2. Use of Artificial Intelligence in promoting is to seek out new audience segments for higher targeting. Artificial intelligence based tools collect knowledge of customers a Mechanically and build it is doable to create the foremost individual provide to customers

  3. Automation in business will definitely lead to different advantages like productivity of workers will increase, fast growth in business, accessibility of buying and selling with service to the customers any time throughout the whole year, and will increase the performance and efficiency in business operations. It conjointly eliminates the human issue that is the main causes of many errors in daily business operations.

  4. AI helps you to form a unified, cross-cutting approach to combat fraud, restrictive compliance and security. You'll be able to shield your company's name and profits, forestall improper payments related to deceitful activities, extra payment and abuse before it happens and find warnings concern rising threats at the earliest stages.

  5. Artificial intelligence and machine learning will mix knowledge, confirm patterns, and optimize and predict trends. Technology based algorithms will choose resumes, realize ideal candidates, superior worker profiles, decipher video interviews, give info concerning people who are unit seemingly to reach the interview. Several firms use AI within the achievement method to seek out ideal workers, valuate the resume of immeasurable workers, deliver job letters to them, and build skilled communications.

Figure 1

Data showing the use of AI and ML in different sectors (https://onalytica /url?.com)

https://typeset-prod-media-server.s3.amazonaws.com/article_uploads/32526ce9-0741-4041-afa5-e981daea5273/image/09b417dc-3072-4bc0-9b61-2c57769572ae-uimage.png

Figure 2

Use of AI and ML in facebook (https://www.facebook.com/)

https://typeset-prod-media-server.s3.amazonaws.com/article_uploads/32526ce9-0741-4041-afa5-e981daea5273/image/cc6117e5-fdb3-449f-97cc-cc51f52bb85d-uimage.png

Figure 3

ML in Google (https://www.google.com/url?data-flair.training)

https://typeset-prod-media-server.s3.amazonaws.com/article_uploads/32526ce9-0741-4041-afa5-e981daea5273/image/c3c23f46-c24d-4b5d-b80d-772cd19a9c08-uimage.png

Figure 4

Machine learning in amazon (https://www.google.com/url?Farekskuza.com)

https://typeset-prod-media-server.s3.amazonaws.com/article_uploads/32526ce9-0741-4041-afa5-e981daea5273/image/43515542-3e76-462b-a589-96e21a29ef80-uimage.png

Conclusion

The result of this study will help business organizations in getting an overview of artificial intelligence and machine learning. This research will be helpful for the organization in understanding the gap between existing methodologies used in operations and the new methodologies which are using a machine learning and artificial intelligence for business operations. An introduction of artificial intelligence in a business operation allows companies to conduct their business opportunities quickly, eliminates errors, increases a transparency, and boost revenues by leaps, and bounds. It is very difficult to determine where this technology will create new jobs in the future but it is easy to see how it can be helpful to human.11

Experts predicted that artificial intelligence doing all the things which a human can and with better accuracy. Here simple example is a computer chess beating the human chess champion. As the dream is going on for the life of survival on the other planet than earth, and it can be achieved by using such modern futuristic technology, but it is a hypothetical thought. In present, we are facing lots of questions regarding the use of this artificial intelligence and machine learning. It shows where science stops and philosophy along with spirituality begins. This shift to automation is for centuries so what is different today that it affects many more industries today so in the future to adapt all these changes technologically we have to use our unique human capabilities and skills to overcome in the future and survive with machines.

Source of Books

  1. “Artificial Intelligence: A modern approach” by Stuart Russell & Peter Norvig- 2nd Edition.

  2. Bostrom N, Yudkowsky E (2014) The ethics of artificial intelligence. The cambridge handbook of artificial intelligence 12, pp316-334.

  3. Business impacts of machine learning sponsored by Google cloud2017

  4. IBA Global employment Institute, Artificial Intelligence and robotics and their Impact on the workplace, April2017.

  5. International journal of scientific & technology research volume 7, issue 5, May 2018, “Current and future impact of artificial intelligence on Business” by AnnGeisel.

Source of Website

  1. https://www.google.com

  2. https://www.facebook.com

  3. https://www.microsoft.com

  4. https://www.amazon.com

  5. http://www.nber.org/papers/w24449

  6. https://thenewstack.io/machine-learning-for-operations/

  7. https://www.innovapptive.com

  8. https://insidebigdat.com/5

  9. www.sciencedirect.com

Source of Funding

None.

Conflict of interest

None.

References

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B Scarff The Impact of Machine Learning on Business Intelligence2017https://www.yellowfinbi.com/blog/2018/02/impact-of-machine-learning-on-business-intelligence

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R Cioffi M Travaglioni G Piscitelli A Petrillo F D Felice Artificial Intelligence and Machine Learning Applications in Smart Production: Progress, Trends, and DirectionsSustainability202012249210.3390/su12020492

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International Conference on Computational Intelligence and Data Science (ICCIDS 2019)Procedia Comput Sci J2018132167http://iccids2019.ncuindia.edu/

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M Bernard The Amazing Ways Chinese Tech Giant Alibaba Uses Artificial Intelligence And Machine Learning. Forbes Innovation Enterprise and Cloud2018https://www.forbes.com/sites/bernardmarr/2018/07/23/Accessed15December2018

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N Russell Artificial Intelligence: A Modern Approach42020925http://aima.cs.berkeley.edu/

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P Wang Conference: Proceedings of the 2008 conference on Artificial General Intelligence 2008: Proceedings of the First AGI Conference Authors: Pei Wang Temple University Download full-text PDFRes Gate2008171136273

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R Bean How Big Data Is Empowering AI and Machine Learning at Scale2017https://sloanreview.mit.edu/article/how-big-data-is-empowering-ai-and-machine-learning-at-scale/

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N Singh N Soni A Kapoor E K Sharma Artificial Intelligence in Business: From Research and Innovation to Market DeploymentProcedia Comput Sci202018422001010.1016/j.procs.2020.03.272

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A Geisel The Current And Future Impact Of Artificial Intelligence On BusinessInt J Sci Technol Res20187522778616



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© This is an open access article distributed under the terms of the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.


Article type

Original Article


Article page

70-75


Authors Details

Manish Paliwal, Meet Patel, Nikita Kandale, Nilesh Anute


Article History

Received : 12-05-2021

Accepted : 14-05-2021

Available online : 03-07-2021


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