ARTIFICIAL INTELLIGENCE AS A DRIVER OF THE DEVELOPMENT OF MODERN BUSINESS

A key success factor of modern companies is the timely restructuring of business processes, taking into account the penetration of digital technologies in all spheres of society. Nowadays, the challenges have accelerated the implementation of modern business concepts. Continual improvements become the vital step in competitive market. Digitalization has become an unavoidable reality for companies. The article investigates the meaning of the terms "digitization", "digitalization" and "digital transformation". It is proved that digitalization provides companies with competitive advantages in all areas of activity, which is reflected in the optimization of production processes, costs minimization, decreasing errors, increasing speed of delivery, boosting the quality of finished products (services), improving the control of the company’s data and processes, increasing the effectiveness of communication. Examples of companies that use digital technologies and the results of their implementation in business processes are given. The results of survey confirm the positive effects of digitalization of business. Three main types of artificial intelligence are distinguished: artificial narrow intelligence, general artificial intelligence, artificial superintelligence and the differences of each are outlined. The benefits and the main threats of artificial intelligence are revealed. The global artificial intelligence industry is expected to grow from $59.7 billion in 2021 to $422.4 billion by 2028, according to Zion Market Research. The 2020 McKinsey Global Survey on Artificial Intelligence (AI) confirms that 50% of companies have reported using AI in at least one business function. The experience of the world’s largest companies in the implementation of various artificial intelligence tools in operational activities is presented. It is emphasized that artificial intelligence contributes to business development and global economic activity. The growth of key performance indicators after the implementation of artificial intelligence in the business processes of companies is presented.