A Review of Artificial Intelligence and its Application in Business

Abstract

In recent years, there has been a noticeable rise in the proliferation of services and intelligent products, accompanied by their widespread consequential socioeconomic implications and commercial availability.This development prompts an inquiry into whether the current emergence of artificial intelligence (AI) is merely a transient trend or possesses genuine transformative potential for the global landscape. This study explores the extensive implications of AI and provides a comprehensive analysis of its positive and negative effects on the business sector. AI has shown significant use in the administration of complex systems, as well as providing assistance to people across many operations. AI is often used in the business sector to provide help for the decision-making process. It is utilized to create various simulations and serves as a foundation for building a competitive edge for organizations. By integrating AI systems throughout many departments within a company, there exists the potential to enhance the efficiency and effectiveness of business operations, hence leading to heightened satisfaction with the services or goods offered by these firms. Several applications of AI in the business domain include marketing, research and development, manufacturing, and quality management.