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Technology and digitization have over the years improved upon the standards and livelihoods of individuals and organizations small and large across the globe. It is through technology and digitization that organizations seek to improve on some of the key “Ps” in the 7 Ps (Product, People, Place, Price, Process, Promotion, Physical Evidence) that have been inculcated into their business strategy to achieve the most results within a foreseeable future.
One aspect of technology currently evolving and enhancing the digital transformation processes for every business is Artificial Intelligence.
According to (Copeland, 2024), Artificial Intelligence is defined as the “ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings”. This term is commonly applied to the project of developing systems that are endowed with intellectual processes similar to that of humans, such as the ability to reason, generalize, discover meaning, or even learn from an experience (Copeland, 2024).
With such enhancements in mind, it is evident that AI is slowly permeating through an organization’s core competencies and business processes. Other areas where AI’s transformative influences can be observed include knowledge management and organizational decision-making. The economic potential of AI is substantial, with recent studies predicting a staggering 15 billion economic impact by the year 2030 (Palomares et al., 2021).
Palomares et al. (Palomares et al., 2021) also foresee a larger impact of AI especially with its integration with other emerging technologies (collectively known as the Fourth Industrial Revolution) such as big data, blockchain technology, cloud computers, virtual and augmented reality which further amplifies its disruptive potential that may revolutionize societies and take digital transformation on a global scale.
Dear readers, this is quite an interesting topic I would like for us to take a journey on. In the coming days, we will delve into to our popular critique segment, “What The Paper Says” where we get to further understand AI from the different perspectives of other like-minded scholars. And finally, we cap it off with my reflections on the use of generative AI in our daily activities. This is where I get to share with you my experiences and my thoughts on this technology.
Watch this Space…
You will never be happy if you continue to search for what happiness consists of. You will never live if you are looking for the meaning of life.
RAPID ADVANCEMENT IN ARTIFICIAL INTELLIGENCE
The rapid advancements in artificial intelligence have undoubtedly played a vital role in shaping the digital transformation space, revolutionizing various sectors and industries. Artificial intelligence has emerged as a core technology that is driving the digital transformation process, enabling organizations to enhance customer experiences, expand sales opportunities, and facilitate a near real-time decision-making process (Hajishirzi & Costa, 2021).
With such enhancements in mind, it is evident that AI is slowly permeating through an organization’s core competencies and business processes. Other areas where AI’s transformative influences can be observed include knowledge management and organizational decision-making. The economic potential of AI is substantial, with recent studies predicting a staggering 15 billion economic impact by the year 2030 (Palomares et al., 2021).
Palomares et al. (Palomares et al., 2021) also foresee a larger impact of AI especially with its integration with other emerging technologies (collectively known as the Fourth Industrial Revolution) such as big data, blockchain technology, cloud computers, virtual and augmented reality which further amplifies its disruptive potential that may revolutionize societies and take digital transformation on a global scale.
Dear readers, this is quite an interesting topic I would like for us to take a journey on. In the coming days, we will delve into to our popular critique segment, “What The Paper Says” where we get to further understand AI from the different perspectives of other like-minded scholars. And finally, we cap it off with my reflections on the use of generative AI in our daily activities. This is where I get to share with you my experiences and my thoughts on this technology.
Watch this Space…
