CERTIFICATE

This is to certify that the seminar entitled

AI IN BUSINESS
Submitted by

Vyankatesh Ravi Nayak (1544)

has completed as per the requirement of Dr. Babasaheb Ambedkar

Technological University, Lonere in partial fulfillment of seminar for degree
Bachelor of Technology for the academic year 2023-24

Prof. Rohini Joshi Prof. S. P. Kulkarni Dr. B.M.Patil

Guide HOD Principal

&

Head of Department

Dpartment of Engineering Science

Shreeyash College of Engineering and Technology, Chh.. Sambhaji Nagar
Academic Year 2023-24

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 ACKNOWLEDGEMENT

With a profound feeling of immense gratitude and affection, we would like to thank our
Seminar guide Prof. Rohini Joshi for his/her continuous support, motivation, enthusiasm and
guidance. His/her encouragement, supervision with constructive criticism and confidence
enabled us to complete this Seminar.

We also wish to extend our reverences to Prof. S. P.Kulkarni Head of Engineering Science
Department, for motivating us to put our best efforts in this Seminar work.

We express our deep gratitude towards Dr. B.M.Patil Principal for constant motivation and
providing necessary infrastructure.

Finally, graceful thanks to family, friends, colleagues and everyone who has directly or
indirectly contributed to make this seminar a success.

Vyankatesh Ravi Nayak (1544)

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 Abstract

This report explores the transformative impact of artificial intelligence (AI) on business
operations, providing an overview of the current landscape and potential future developments.
AI has revolutionized decision-making processes, automated tasks, enhanced customer
service, and optimized supply chains. Organizations leverage AI-driven algorithms to analyze
vast data, derive insights, and support complex decision-making tasks. Automation powered
by AI increases efficiency and productivity, streamlining operations and optimizing resource
allocation.

The report delves into the effects of AI on recruiting and human resources, including AI's role
in talent acquisition, personalized learning, and predictive analytics. In supply chain
management, AI enables predictive analytics, optimized logistics, and improved transparency.
AI also contributes to marketing and sales by offering data-driven insights and personalized
customer experiences.

Despite the numerous benefits, challenges persist in implementing AI, including data quality
issues, ethical concerns, and legal considerations. The report offers strategies for overcoming
these challenges, such as investing in data quality and partnering with AI experts.

Future developments in AI promise sophisticated decision-making, advanced automation, and

enhanced customer service. As AI technologies continue to evolve, organizations must
navigate ethical and technical challenges while leveraging AI strategically for operational
efficiency and business growth. By embracing AI thoughtfully, businesses can gain a
competitive edge in an increasingly AI-driven world.

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 CONTENT
Sr No. Particulars Page No

Certificate 1

Acknowledgement 2
Abstract 3

1. Introduction 9
1.1 Overview of artificial intelligence 10
1.2 Why ai is different ? 11
1.3 Types of AI . 11
1.4 Areas of AI application 11

Artificial intelligence's effects on 15

2.
recruiting and human resources

2.1 Employee Engagement 15

2.2 Human Resource Management 16

2.3 Reduced Employe 16

2.4 Performance Administration 17

Implication Of AI On Business 18
3.
Operations

3.1 Enhanced Efficiency and Productivity 18

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 3.2 Improved Decision-Making 18

3.3 Process Automation 19

3.4 Personalization and Customer 19
Experience
3.5 Competitor analysis 19
3.6 Identify the fraud 20
3.7 marketing and sales 20
4. Challenge of implementing AI in 22
business
How can businesses overcome these 24
5.
challenges ?

6.
Overview Of The Current Status of 25
AI
6.1 Machine Learning Advancements 25
6.2 Natural Language Processing (NLP) 25
Milestones

6.3 Autonomous Systems 25

6.4 Healthcare Revolution 25
6.5 Personalized Experiences 26
6.6 Ethical and Bias Concerns 26
6.7 Limitations and Challenges 26
6.8 AI in Creativity 26

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 Future implications and potential 27
7. development

8. CONCLUSION 28

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 LIST OF FIGURES
Table No. Particulars Page No.

OVERVIEW OF ARTIFICIAL
1.1 INTELLIGENCE 8

Reduced employee
2.3 12
Personalization and Customer Experience:
3.4 15

marketing and sales

3.7 17

Challenge of implementing AI in business

4 18

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 LIST OF TABLE

Table No. Particulars Page No.

1.4 Areas of AI application 10

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 1.INTRODUCTION:
This report explores the impact of AI on various aspects of business operations, devloping into
the current landscape and discussing potential future developments. The Current State of AI in
Business Operations:

In today's technologically advanced culture, artificial intelligence has emerged as a useful new
tool.

Artificial intelligence (AI) has become a game-changer in the realm of business operations,
transforming the way organizations make decisions, automate processes, engage with
customers, and manage supply chains. As AI technologies continue to advance rapidly, it is
crucial to understand their current state and future implications for businesses.

AI has already made significant inroads across industries, revolutionizing decision-making

processes, automating tasks, and enhancing customer service and supply chain management.
In decision-making, AI-driven algorithms are being employed to analyze vast amounts of data,
providing valuable insights and assisting in complex decision-making tasks. Automation
powered by AI has led to increased efficiency and productivity, enabling organizations to
streamline operations and optimize resource allocation. Furthermore, AI-powered customer
service solutions, such as chatbots and virtual assistants, have transformed the way businesses
interact with their customers, providing personalized experiences and round-the-clock support.
Additionally, AI applications in supply chain management have enabled predictive analytics,
optimized logistics, and improved transparency throughout the supply chain.

The research is dependent Following questions.

a. Artificial intelligence's effects on recruiting and human resources?

b. What is the current state of artificial intelligence (AI) technologies in business
operations?
c. How does AI impact decision-making processes in business operations?

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 d. What are the effects of AI on automation and task/process optimization in
organizations?
e. How does AI enhance customer service and customer experience in business
operations?
1.1 OVERVIEW OF ARTIFICIAL INTELLIGENCE

Artificial intelligence (AI) is a branch of computer science that focuses on creating intelligent
machines capable of performing tasks that typically require human intelligence. It involves
developing algorithms and systems that can process and analyze large amounts of data, learn
from patterns and experiences, and make decisions or predictions.

There are various types of AI, including narrow AI and general AI. Narrow AI, also known as
weak AI, is designed to perform specific tasks within a limited domain, such as speech
recognition, image classification, or data analysis. General AI, on the other hand, refers to
highly autonomous systems that possess human-level intelligence and can perform a wide
range of cognitive tasks. While general AI remains a concept for future development, narrow
AI has seen significant advancements and widespread applications.

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1.2 Why AI is different?

The differentiation between AI and existing analytics technologies is the potential to automate
all of these areas. Where humans have historically been able to exercise a high degree of
control over data processing, the increased use of AI means this may no longer be the case.
Further, the application of AI to existing technologies stands to profoundly alter their current
use and privacy considerations.AI also has the potential to change the way that humans interact
with machines

1.3 Types of AI.

1) Weak AI:

• This type of AI is designed for a narrow task, such as language translation, image recognition,
or playing chess.

2) Strong AI:

• This refers to AI that can understand, learn, and apply knowledge across a wide range of
tasks, similar to human intelligence

.3) Artificial Super intelligence:

• This hypothetical form of AI surpasses human intelligence in every aspect and

is capable of out performing the best human minds in every field.

1.4 Areas of AI application

Areas of the application of the AI are determined with the design of the AI system. Mainly, AI
can be used in different kinds of automated systems such as computer games, automated
manufacturing systems, expert systems that are based on the existing organisational knowledge
base but with AI such a base can be effectively managed and an organisation can perform
analysis of the existing knowledge much easier. Furthermore, one of the usages of the AI
system is in the healthcare in which such a system can be used for the easier comprehension

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of speech of people with difficult pronunciation or communication the main benefits of usage
of AI is for collecting and analyzing large databases and to create a base for the decision

Area of the usage Short description

In healthcare, AI can be used for the
analysis of the different kinds of medical
diagnostic procedures. In such cases, AI can
Healthcare
be based on the learning previously
analysed data and also much faster and more
accurately identify a health problem.
Furthermore, intelligence can be used for
the helping of medical stuff when
performing different kinds of medical
procedures such as surgery procedures, for
the education of medical stuff, etc.

With the development and possibilities of

AI in healthcare, there is less need for
medical stuff because AI can be used for
performing complex decision-making
processes and providing diagnostic to the
patient. Also, AI can make much more
precise and accurate decision.
In logistics activity, the focus is on costs and
optimization. AI can be used for analyzing
existing costs in the transportation and
Logistics
logistic system and for finding optimization
opportunities in the logistic process.
Furthermore, AI can be used for managing

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 the automated system in the warehouse in
which robots are transporting different
kinds of goods. There is also the possibility
of using AI in the managing stock in a
warehouse that will as the result have
decreasing costs related to the stocks
Usage of the AI in civil engineering is
mostly related to creating a simulation of the
planned structures and for complex
mathematical calculations that are
Civil engineering
necessary for creating and building different
kinds of structures. With the creation of the
expert systems, AI can be used in the
decision-making process and also for the
optimizing design and construction of the
buildings. Furthermore, there is also the
possibility to use AI in managing vehicles in
the construction yard as well as the usage of
robots for conducting different operations in
the building.
Most of the usage of AI is related to
business and managing organizations. AI in
the organization can be used for analyzing
different kinds of data such as data that is
Managing and
business describing the environment in which the
organization exists, analyzing different
alternatives for finding one optimal, etc.
Furthermore, AI can be used for creating
and managing organizational knowledge
with knowledge mining techniques. Also,

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 AI can be used in different departments in
the organization for different kinds of
activities that are performing in such
departments.

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 2. Artificial intelligence's effects on recruiting and human
resources

Compared to any other industry, talent acquisition shows the highest impact of artificial
intelligence on business. In the Talent takeover superset, intelligent is used in a number of
processes, such as candidate sourcing, resume screening, chatbot engagement, and face
recognition AI-powered software to identify the candidate's emotions.

2.1 Employee Engagement

• Personalized Learning

AI-powered learning platforms can provide personalized learning paths tailored to each
employee's needs and preferences, increasing engagement by delivering relevant content.AI
can analyze employee performance data to provide real-time feedback and recognition,
fostering a culture of continuous improvement and appreciation.

• Virtual Assistants:

AI-driven virtual assistants can help employees with administrative tasks, freeing up time for
more meaningful work and reducing frustration.

• Predictive Analytics:

AI algorithms can analyze employee data to predict patterns of disengagement or turnover,

allowing proactive interventions to be implemented.

• Workforce Planning and Optimization

• AI algorithms can forecast future workforce needs based on historical data,
market trends, and business objectives. By identifying skill gaps and talent
shortages, HR can develop strategic plans for recruitment, training, and
succession planning.
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• Wellness and Well-being:

AI-powered platforms can offer personalized wellness programs and reminders, promoting
employee well-being and engagement.Collaboration Tools: AI-enhanced collaboration tools
can facilitate communication and teamwork among employees, promoting engagement and
productivity.

2.2 Human Resource Management

• Recruitment and Hiring:

AI-powered tools can analyse resumes, screen candidates, and even conduct initial interviews
through chatbots or video interviews. This streamlines the hiring process, reduces bias, and
identifies top candidates more efficiently.

• Performance Management:

AI algorithms can analyse employee performance data, provide real-time feedback, and
identify areas for improvement. This helps managers make more informed decisions regarding
promotions, bonuses, and training opportunities.

• Workload Management:

AI can help balance workloads by analysing individual work patterns and distributing tasks
more efficiently, reducing stress and preventing employee burnout

2.3 Reduced Employee

The automation of certain recruitment tasks through AI may lead to job displacement for some
recruitment professionals who previously performed those tasks manually. This can result in
job loss and the need for retraining or upskilling.

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2.4 Performance Administration

It is much simpler to note all instances of good and poor performance because AI-driven
assessments are instantaneous and real-time (with algorithms monitoring the quotas, targets,
and how they are changing for each employee on a daily basis). This Makes it easier to
determine the proper measure performance and provides an use answer to the question of
how AI will benefit businesses internally.

Real-time access and monitoring can aid in highlighting flaws on a daily basis, allowing firms
to take corrective action before a problem gets worse

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 3. IMPLICATIONS OF AI ON BUSINESS OPERATIONS
Benefits of using AI in the business are several and benefits are additionally arising with
development of industry and also with an increase of AI use. With collecting and creating large
amounts of data, organizations can, thought the usage of AI, conduct different kinds of
simulations which can lead to identifying future trends as well as the needs of stakeholders in
the organizational environment. On the other hand, AI can be used to conducting risk analysis
as well as the providing simulations of the possible measures aimed at risk-reducing. It should
be highlighted that possibilities of usage of AI are determined with organizational competence,
most important technical and technological competence. Furthermore, the organization for the
usage of the AI must conduct digital transformation of business. Digital transformation is
aimed at changing the business model i.e. transforming the traditional way of doing business
and turning organization to the virtual sphere. Besides changing the business paradigm, the
organization significantly increase efficiency and effectiveness of the processes. The
implications of artificial intelligence (AI) on business operations are far-reaching and
transformative. Here are some key implications of AI in business operations:

3.1 Enhanced Efficiency and Productivity:

AI automates routine and repetitive tasks, allowing employees to focus on higher-value
activities. By streamlining processes and reducing manual work, AI improves operational
efficiency and productivity, enabling organizations to accomplish more in less time.

3.2 Improved Decision-Making:

AI provides organizations with powerful tools to analyze vast amounts of data, extract
insights, and make data-driven decisions. By leveraging AI technologies like machine learning
and predictive analytics, businesses can gain deeper insights, identify patterns and trends, and
make more accurate and informed decisions.

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3.3 Process Automation:
AI enables organizations to automate various business processes, such as data entry, document
processing, and customer support. By deploying AI-powered systems, organizations can
reduce errors, enhance speed and accuracy, and achieve higher levels of process efficiency.

3.4 Personalization and Customer Experience:

AI enables organizations to deliver personalized experiences to customers. By analyzing
customer data and behavior, AI algorithms can tailor products, services, and recommendations
to individual preferences, enhancing customer satisfaction and loyalty

3.5 Competitor analysis

Competitor analysis using AI offers detailed insights into competitors’ strategies and customer
perceptions. By tracking essential metrics such as audience growth, engagement and post
volume across various networks, marketers can benchmark their social presence against
competitors. This comprehensive analysis, including share of voice, engagement, sentiment
and impressions, helps identify key areas where a brand stands out or needs improvement.

Sprout’s powerful competitor analysis features aid in discerning which content types are most
effective, helping

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to refine strategies to resonate with target audiences. Regular use of these AI-powered tools
for competitive analysis empowers businesses to stay agile, adapt strategies and maintain a
competitive edge in their industry.

3.6 Identify the fraud

AI can also be used to help companies detect and respond to fraud threats. In the financial
industry, there are tools available that identify suspicious transactions through the use of
machine learning algorithms. When a fraud risk is detected, the application stops the
transaction from going through and alerts the appropriate parties

3.7 marketing and sales

With marketing, AI transforms how businesses interact with their customers in several ways,
offering tangible benefits that directly impact a company’s bottom line.AI tools dissect large
datasets, revealing market trends, customer preferences and competitive landscapes, enabling
businesses to make data-driven decisions. One of the main goals of every organization is
foresight needs and requirements that customers have. Because of that fact, in history, many
organizations decide to engage different kinds of specialists in different areas which collect
and analyze information and data in a long period to create foresight regarding costumers and
market. With the development of AI, the organization can substitute such specialists with one
system which will do all the foresight and also collect and analyze a different kind of
information in a much more efficient and effective way. Furthermore, with the development
of AI and also the development of machine learning, the AI system can increase the speed of
foresight market trends. When it comes to the application of AI in marketing, it should be
highlighted that AI can be used for conducting different types of predictive analysis which is
particularly applicable when an organization is creating a marketing strategy. Such predictive
analysis as the main goal has to simulate possible trends and results of the implementing
strategy and also can be used as the base for decision making.

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 4. Challenge of implementing AI in business

With new AI-powered applications being developed all the time, Artificial intelligence (AI) is
rapidly transforming the business landscape. However, implementing AI in businesses can be
challenging. Here are some of the biggest challenges:

• Data quality and availability.

AI systems require large amounts of high-quality data to learn and make accurate predictions.
However, many businesses struggle with data quality and availability, which can hinder the
performance of AI systems.

• Complexity.

AI can be complex and difficult to understand, making it challenging for businesses to identify
and correct errors.

• Cost.

Implementing AI can be expensive, especially for small and medium-sized businesses. The
cost of development, training, and maintenance can be significant.

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• Lack of expertise.

There is a shortage of AI experts, making it difficult for businesses to find the talent they need
to implement AI solutions.

• Ethical and legal considerations.

The use of AI raises ethical and legal concerns, such as privacy, security, and bias. Businesses
must carefully consider these issues before implementing AI solutions.

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 5.How can businesses overcome these challenges ?

● Investing in data quality and management. Businesses need to ensure that their data is
accurate, complete, and relevant to the problem they are trying to solve.
● Using cloud-based AI solutions. Cloud-based AI solutions can help businesses to reduce
hardware and software costs.
● Partnering with AI experts. Businesses can partner with AI experts to help them to
implement AI solutions.
● Considering the ethical and legal implications of AI. Businesses need to carefully consider
the ethical and legal implications of AI before implementing AI solutions.

Implementing AI in businesses can be challenging, but the potential benefits are significant.
Businesses that are able to overcome the challenges of implementing AI can gain a competitive
advantage.

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 6 .overview of the Current Status of AI
Artificial Intelligence has made remarkable strides in recent years, transforming various
industries and aspects of our daily lives. Here’s an overview of its current status:

6.1Machine Learning Advancements:

AI’s backbone, machine learning, has seen significant advancements. Algorithms like deep learning
and reinforcement learning have enabled AI systems to process vast amounts of data and improve
their performance over time. These improvements have led to breakthroughs in image recognition,

natural language processing, and autonomous vehicles.

6.2 Natural Language Processing (NLP) Milestones:

NLP, a subset of AI, has achieved impressive milestones. Models like GPT-4 (Generative Pre-
trained Transformer 4) can generate human-like text, making chatbots, content creation, and
language translation more efficient and natural.

6.3 Autonomous Systems:

AI-powered autonomous systems have made strides in fields like self-driving cars and drones.
Companies like Tesla and Waymo are testing self-driving cars on public roads, showcasing the
potential of AI to revolutionize transportation.

6.4 Healthcare Revolution:

AI is playing a pivotal role in healthcare. From disease detection to drug discovery, AI

algorithms are helping doctors diagnose illnesses more accurately and speeding up drug
development processes.

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6.5 Personalized Experiences:
AI is enhancing user experiences by personalizing content and recommendations. Streaming
services, social media platforms, and e-commerce sites use AI algorithms to tailor suggestions based
on user’s preferences and behaviors.

6.6 Ethical and Bias Concerns:

As AI becomes more prevalent, concerns about ethics and bias have come to the forefront.
Ensuring that AI systems are fair, transparent, and free from discriminatory biases remains a
challenge that the industry is actively addressing.

6.7 Limitations and Challenges:

While AI has made significant progress, it still faces challenges. AI systems can struggle in situations
they haven’t been specifically trained for and might lack common-sense reasoning abilities.
Additionally, the energy consumption of training large AI models is a growing concern.

6.8 AI in Creativity:

AI is even making strides in creative fields. AI-generated art, music, and literature are gaining
attention, blurring the lines between human and machine creativity.

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 7.Future implications and potential development

The future of AI in business operations holds tremendous potential with ongoing advancements
in AI technologies, we can anticipate several key developments. In decision-making, AI is
expected to provide even more sophisticated insights, enabling real-time, data-driven decision-
making across multiple domains. Automation has continued to evolve, with AI-driven robotics
playing a more prominent role in manufacturing and service industries, leading to increased
efficiency and productivity gains. AI is poised to enhance customer service further, with
advanced natural language processing andmachine learning capabilities, creating seamless and
highly personalized customer experiences. In supply chain management, AI technologies has
facilitated predictive analytics, demand forecasting, and intelligent optimization, improving
overall supply chain efficiency and resilience. Challenges and Considerations: While the
potential benefits of AI in business operations are significant, several challenges and
considerations must be addressed. Ethical considerations surrounding AI, such as data privacy,
algorithmic biases, and the impact on employment, need to be carefully managed. The
integration of AI technologies requires organizations to overcome technical barriers, invest in
infrastructure, and upskill their workforce. Additionally, regulations and legal frameworks
must keep pace with the rapid development of AI to ensure responsible and accountable use.

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 8.Conclusions

The impact of AI on business operations is undeniable, transforming the way organizations

operate and interact with their stakeholders. The current state of AI has already demonstrated
its potential to improve decision-making, automate processes, enhance customer service, and
optimize supply chain management. Looking ahead, the future implications of AI in business
operations are promising, with advancements poised to revolutionize multiple aspects of
organizational functioning. However, organizations must navigate challenges, both technical
and ethical, to leverage the full potential of AI while ensuring responsible and sustainable
integration. As AI technologies continue to evolve, businesses that strategically adopt and
harness AI capabilities has gained a competitive advantage in an increasingly AI-driven world.
Embracing AI technologies with a thoughtful and strategic approach has empowered
organizations to unlock new levels of operational efficiency, customer satisfaction, and
business growth.

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 Reference

1.Manish Kumar Yadav , Nishtha Dwivedi , “Impact of AI on Business”.

www.ijfmr.com

2.Neha Sonia,*, Enakshi Khular Sharmaa, Narotam Singh, Amita Kapoorc “Artificial
Intelligence in Business: From Research and Innovation to Market Deployment”

www.sciencedirect.com

3.https://www.forbes.com/sites/davidmorel/2023/08/31/the-future-of-work-how-will-ai-
change-business/

4.https://niftypm.com/blog/how-ai-can-help-to-increase-productivity/

5.https://www.credera.com/en-us/insights/benefits-of-ai-increase-efficiency-enhance-safety-
and-improve-reliability/

6.https://medium.com/@marketing.upnyx/the-5-biggest-challenges-of-implementing-ai-in-
businesses-93d51b7b9728

7. The business case for AI by Kavita Ganesan . Opinosis Analysis publisher.

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