1.

PROBLEM IDENTIFICATION -

“Impact of Artificial Intelligence on Business”.

2. INTRODUCTION –
Artificial intelligence (AI) is wide-ranging branch of computer science concerned with building
smart machines capable of performing tasks that typically require human intelligence. AI is an
interdisciplinary science with multiple approaches, but advancements in machine learning and
deep learning are creating a paradigm shift in virtually every sector of the tech industry.

2.1 CAN MACHINES THINK?

Less than a decade after breaking the Nazi encryption machine Enigma and helping the Allied
Forces win World War II, mathematician Alan Turing changed history a second time with a simple
question: "Can machines think?" Turing's paper "Computing Machinery and Intelligence" (1950),
and its subsequent Turing Test, established the fundamental goal and vision of artificial
intelligence. At its core, AI is the branch of computer science that aims to answer Turing's
question in the affirmative. It is the endeavour to replicate or simulate human intelligence in
machines.The expansive goal of artificial intelligence has given rise to many questions and
debates. So much so, that no singular definition of the field is universally accepted. The major
limitation in defining AI as simply "building machines that are intelligent" is that it doesn't actually
explain what artificial intelligence is? What makes a machine intelligent? In their groundbreaking
textbook Artificial Intelligence: A Modern Approach, authors Stuart Russell and Peter Norvig
approach the question by unifying their work around the theme of intelligent agents in machines.
With this in mind, AI is "the study of agents that receive percepts from the environment and
perform actions." (Russel and Norvig viii)Norvig and Russell go on to explore four different
approaches that have historically defined the field of AI:

1. Thinking humanly
2. Thinking rationally
3. Acting humanly
4. Acting rationally

2. OBJECTIVES OF THE STUDY:

 To study the impact of AI on business opportunites.
 To study how AI is reshaping various business sectors.
 To study how AI revolutionize the Business world..

3. SCOPE OF THE STUDY :

 The ultimate effort is to make computer programs that can solve problems and achieve goals in
the world, as well as humans. There is a scope in developing the machines in game playing,
 speech recognition machine, language detection machine, computer vision, expert systems,
robotics and many more.

 Artificial Intelligence (AI) is the simulation of human intelligence by machines. In

other words, it is the method by which machines demonstrate certain aspects of human
intelligence like learning, reasoning and self- correction.

 Since its inception, AI has demonstrated unprecedented growth. Sophia the AI Robot,
is the quintessential example of this. The future of Artificial intelligence is hazy. But
going by the bounds of progress AI has been making, it is clear AI will permeate every
sphere of our life. Listed below are the diverse ways in which AI can change in the
future.

4. LITERATURE REVIEW:

4.1 THEORETICAL FRAMEWORK:

According to Getting Smart’s AskAboutAI report, the notion behind AI is that machines
can exhibit human intelligence. The concept of machine learning started in 1956 and is
when algorithms are used to interpret data and take some action or to complete a task. AI, at its
base, is computer code that displays some form of intelligence, learning, and problem solving in
what has been referred to as a super intelligence. It is the development of computers that can
completetasks which normally require human intelligence; however, it learns on its own and
continues to improve on past iterations. AI becomes smarter, knowledge grows, and it expands
the realm of possibilities for society. Knowingly or unknowingly, we are using some AI
applications / tools commonly in our daily life. Some of the everyday common uses of AI are:

 Communication: Spam filters, powered by AI, streamline the amount of spam appearing
in your inbox. As email senders (real or automated) become more careful with selecting
words which have not been flagged previously, the filters need to adapt and continue to
learn based on words that the user also flags. There is an added component of machine
learning in this, in that through the algorithms already in place by the email provider,
additional filters are then created.

 Travel: If you have taken a ride using Uber, you have experienced Machine Learning,
which is used to predict rider demand and to calculate ETA( Estimated Time of Arrival).
The airline industry uses AI, since autopilot qualifies as AI, where it is estimated that
―human steered‖ flight time is only seven minutes of actual flight length.

 Social networking: When we use Facebook to share photos, the artificial intelligence is
able to detect faces in the image and suggest a name to tag the person. Facebook has
continued to add new features as part of its AI Initiative, to generate a more personalized
and interactive user experience. Some social media sites, such as Twitter, generate lists
of accounts to follow, chats to join, and news feeds of interest based on an analysis of user
input and data. Even Google with its cards can provide a variety of personal
recommendations based on your search history.

 Online Shopping: One that comes to mind quickly is Amazon, and how it suggests items
you may be interested in, as a result of your prior searches and order history. Systems are in
place to protect consumers against fraud, with alerts being sent almost simultaneously to an
attempted transaction that is not recognized as a typical purchase or located in a non-home
base location. All of this done through AI, which is used for identifying fraudulent
 transactions.

 Education: Teachers and students have a wide range of tools available, ranging from
Google Searches, in which alternate search terms are instantly suggested, citation
generators, plagiarism checkers, and even Siri has become a popular tool for searches. An
astounding amount of information generated instantly, far more advanced from thirty
years ago and society’s reliance on card catalogs, calculators and books

4.2 CONCEPTUAL FRAMEWORK::

Conceptually, The impact of Artificial Intelligence is on the three major aspects i.e Business
opportunities, Business sectors amd Business Environment. And each comprises of different domains
which are categorised as follows.

5. HYPOTHESIS :

5.1 BUSINESS OPPORTUNITES :

Ho : There is no impact of Artificial Intelligence on business opportunites.
Ha: There is impact of Artificial Intelligence on business opportunites.

5.2 BUSINESS SECTORS:

Ho : There is no impact of Artificial Intelligence on business sectors.
Ha: There is impact of Artificial Intelligence on business sectors.

5.3 BUSINESS ENVIRONMENT:

Ho : There is no impact of Artificial Intelligence on Business environment.
Ha: There is impact of Artificial Intelligence on Business environment.