ACKNOWLEDGEMENT

Firstly, we would like to praise and thank God for giving the perfect time to us in
completing this written report successfully without any failure. We are truly grateful because
we managed to complete our group assignment report within the time given by our dearest
lecturer, Puan Harniyati Binti Hussin.

This assignment cannot be completed without the effort and full responsibilities from
our beloved group members. I hope all the efforts will make us gain more general knowledge
as this is our first-time doing research about ARTIFICIAL INTELLIGENCE. Such a new
experience to us.

We also sincerely felt thankful for having a kind-hearted lecturer of Information

Technology in Business(MGT300), Puan Harniyati Binti Hussin for the guidance and
encouragement in finishing this assignment. Also, the most patience lecturer we ever had as
you are very calm in answering all our questions regarding assignment without frustrations.
Thank you for teaching us in this course, we are so lucky to have you as our lecturer.

Last but not least, we would like to express our gratitude to our amazing friends and
not forgetting our family members who keep supporting us in the process of making the
report, thank you so much for understanding our hard times during online distance learning.
We hope we can succeed in studies well and striving for excellence in our final results.
ARTIFICIAL INTELLIGENCE OPPORTUNITIES AND CHALLENGES IN BUSINESS

OPPORTUNITIES

1) Artificial Intelligence in Marketing

It is every small business' goal that its marketing budgets are maximized and the marketing
tactics are highly achieved. In addition, every company wishes to know which marketing
efforts yield the biggest investment return. However, it takes a long time for all media
channels to monitor and analyse data. Platforms supported by AI like Acquisio can simply be
used to manage marketing activities across Google Adwords, Facebook and Bing. This
artificial intelligence enables the study of Live Campaign Data using sentiment classification
algorithms and advises that marketing efforts are distributed with the greatest outcomes. It
controls and analyses regular marketing expenditure so that business managers may save the
time spent tracking marketing campaigns and takes other vital areas into account.

2) Using AI techniques to Track Competitors

Keeping track of what competitors are doing is always important. Unfortunately, due to busy
schedules, most business owners cannot check the competition. Here, AI's role enters.
Different competitive software tools such as Crayon are available. With various means, such
as websites, social media, and applications, they track competition. They also offer business
owners a close look at changes in marketing plans for competitors, such as pricing alterations,
a subtle shift of messaging, and PR actions.

3) Make light work of Big Data

It's not unusual for small business owners to make informed data-driven decisions that will
expand their businesses with a vast number of the internet as well as offline information.
Among the most surprising part about AI-driven business, solutions are that these can be
integrated into any data process creating and give a close and operational insight. Company
solutions such as Monkey Learn to connect and analyse data across many channels and
complete timesaving analysis and reporting, including Google Sheets sentimental analysis,
CSV, etc.
4) AI integrated customer support solutions

Smaller companies can increase their service work and free up the resources required to
enhance their client connections through automated chat systems. Solutions such as Digital
Genius and Chatty People by AI propose or automate responses to incoming client inquiries,
classify assistance tickets and divert requests or messages towards the relevant department for
customer service. A large decrease in average handling time is found when AI is used for
customer assistance. It also improves customer service staff responded in general.

5) Artificial Intelligence in CRMs

Take a new level of CRM and gain important information to support relationships with
existing and future customers. Integrated with AI capability, CRM solutions may do real-time
data analysis to deliver both forecasts and suggestions based on specific business processes
and client data in your organization.

CHALLENGES

1) Computing is not that Advanced

A sequence of computations is required extremely fast for machine learning and deep
learning approaches that seem most helpful (in microseconds or nanoseconds or less). It
shows clearly that the processing capacity of various AI methods is high. For a long period,
AI was in the expert debate. And it was always clear that the ability to apply this AI
approaches is not sufficient. Cloud computing and huge processing systems have provided
optimism for the short-term application of these approaches, however when the amounts of
data rise and deep learning shifts to automated algorithms, it will be no benefit to Cloud
Computing.

2) Fewer people support

The deployment of AI does not have adequate market applications and software. And no
organization is interested in investing money in AI initiatives without it. It indicates plainly
that comparably few organizations were engaged in the creation of AI products. Furthermore,
the vision of machine-powered growth in the globe is not enough individuals who can help
other companies grasp it. It can explain in plain language that not enough people can manage
robots that are self-thought and learned. A minor cure is a citizen data scientist to address this
problem. But it's not a lasting or true answer either. Another approach is to give platforms
and tools to "as-a-service" work powered by AI. Instead of starting from scratch, companies
may use prepared solutions and bring through their data.

3) Creating Trust

The AI difficulty is that it's like a human black box. When we don't comprehend how the
choice was taken, people don't feel comfortable. Banks utilize basic algorithms based on
linear arithmetic and the way they reached from input to output is straightforward to describe.
Somewhere, therefore, AI was unable to build people's confidence. But only let people
realize that this technology is truly working is the only answer to this problem. The truth,
though, is slightly different and it indicates there are plenty of possibilities for improving
things via more precise predictions. It causes the government to overflow difficulties.
Assume a section of this legislation says that citizens may, through the use of artificial
intelligence, have the right to seek an explanation for their choices.

4) One Track Minds

One major difficulty to take into account is the very specialized majority of AI systems.
Specialized AIs are sometimes called "Applied AI." It is just built to accomplish a particular
job and to continue to learn to improve. The following procedure is to examine the inputs
provided and the results obtained. The best results obtained are examined and the input
values are recorded. The widespread AI is different and can leap to any human-like work. But
in the future, it is still to come. It indicates that AIs need training only if their answers are not
to generate new problems. In particular, these all places further than areas to be considered.

5) Provability

AI-based goods companies cannot effectively explain their vision and how they've achieved
it by using AI technology. It is questionable how people choose decisions and if all their
decisions are flawless or non-perfect. In addition, people's brains have been circled by such a
misunderstanding. Finally, a chance behind AI forecasts remains a hazy zone for businesses,
which is the mathematical uncertainty. The decision-making process of the AI system is not
effective. And the only solution can be to make AI explicit, proven, and clear. Organizations
should carry out explanatory AIs.