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The Impact of Artificial Intelligence on Business

The impact of AI is not only about increasing productivity and decreasing costs, but also about social responsibility and ethical issues. While there are many advantages of social responsibility, it also carries with it certain risks. Discrimination and privacy issues could arise if AI algorithms or data are biased. In response, the government is considering legislation and regulations to control the use of AI. In this report, the European Commission highlights several ethical issues facing AI.

As AI becomes more sophisticated and powerful, it will require a change in firm processes and practices. It will require a significant evolution in infrastructure and software. Cloud native is one such example, which eliminates the need for an operating system. Virtualized infrastructure and orchestration tools are other ways that AI can improve business processes. In short, the rise of AI is affecting the way we do business. However, it will not happen overnight, so firms must plan carefully for the long-term.

Organizational structure and culture play a role in AI adoption. According to Pumplun et al., AI adoption can be hindered by bureaucratic corporate structures. Further, functional silos are also detrimental to AI adoption, as they do not facilitate a holistic approach. In contrast, a company with an innovative culture is well-positioned to adopt AI. In a nutshell, the impact of AI on business is not so far as we might imagine.

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