Impact of Artificial Intelligence on Business

Impact of Artificial Intelligence on Business

Innovation has always been the main engine of an improved standard of living throughout the history. However, the process of innovation is highly disruptive as it turns old technologies into obsolete. Internet of things (IoT), data science & big data, cloud computing, artificial intelligence (AI), and block chain are the emerging technologies that may create winners as well losers across the world. Some of these technologies are at least two and a half decades old still were not able to prove themselves as routine technologies in the past. Conversely, in the present era, there is not a single field left where one or combination of more than one of these technologies has not been explored.

There are many factors responsible for this, such as advancements in computer technology (high-performance computing, grid, and cloud computing), increase in transparency through code sharing (services like Github, Gist, GitXiv), and a large number of open source software. The emerging technologies have a large potential to transform the lifestyle and living standards of humans and the business operating models of companies all over the world.

It becomes important to study both the capabilities and limitations of machine intelligence and its potential impact on human life, society and business.

Source: Research Gate

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