THE ROLE OF ARTIFICIAL INTELLIGENCE IN ENHANCING BUSINESS DECISION-MAKING
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Abstract
Artificial intelligence is today considered as a revolution in modern business as it has changed the way decisions are made and how plans are implemented. AI technology empowers organisations to process massive information, forecast the market, enhance organisational efficiency, and tailor clients’ experiences. This is achieved by way of complex computations, artificial intelligence, machine learning and data analysis. AI technologies provide businesses with the means to make improved and efficient decisions with less chances of making errors that can result in risks. This article aims at exploring the impact of artificial intelligence on business decisions, with special focus on the areas of predictive analysis, Automation, Supplier Chain Optimization and Customer Relationship Management. Moreover, the study explores the challenges and the issues of ethics that prompt when the artificial intelligence is inserted in the decision-making. Finally, it is not just the relative gains in efficiency that one can see to have been delivered by artificial intelligence technologies, but also the advantage that firms which deploy these technologies in the most effective way possible will obtain.
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