IT IN BUSINESS

 Presented To:Miss Sabira Jamil

 Presented By: Iman Malik
Habiba
Nayab Tariq
Aliza Bibi
Mahnoor
AI Revolutionizing Business:
The Importance of Artificial
Intelligence and It’s Demand
Introduction
Customer Service
Marketing and Advertising
Operations and Supply Chain Management
Finance and Accounting
Negative uses
Conclusion
 INTRODUCTION
ArtificialIntelligence (AI) is a rapidly growing field that has become
increasingly important in the business world. AI involves the
development of intelligent machines that can perform tasks that
typically require human intelligence, such as visual perception,
speech recognition, decision-making, and language translation.
In recent years, businesses have been incorporating AI into their
operations to improve efficiency, reduce costs, and enhance customer
experiences. In this presentation, we will explore the various uses of
AI in business and discuss its importance in today's economy.
 CUSTOMER SERVICE
One of the most significant uses of AI in business is in customer
service. Companies are using chatbots and virtual assistants to
provide 24/7 support to their customers. These tools can quickly
answer frequently asked questions, provide recommendations,
and even resolve issues without human intervention.
By using AI-powered customer service, businesses can reduce
response times, increase customer satisfaction, and save money
on staffing costs. Additionally, these tools can analyze customer
interactions to identify common issues and areas for
improvement in the company's products or services.
 MARKETING AND ADVERTISING
AI is also being used to improve marketing and advertising
efforts. Machine learning algorithms can analyze customer data
to identify patterns and preferences, allowing companies to
target their ads more effectively. AI can also be used to create
personalized content, such as product recommendations and
customized emails.
Additionally, AI-powered chatbots can be used to engage with
potential customers and guide them through the sales process.
By automating these tasks, businesses can save time and
resources while improving their marketing and advertising
results.
 OPERATIONS & SUPPLY CHAIN
MANAGEMENT
AI is also being used to improve operations and supply
chain management. Machine learning algorithms can
analyze data from sensors and other sources to predict
equipment failures and optimize maintenance schedules.
This can reduce downtime and improve overall efficiency.
AI can also be used to optimize inventory levels and
shipping routes, reducing costs and improving delivery
times. By using AI to manage operations and supply
chains, businesses can gain a competitive advantage and
improve their bottom line.
 FINANCE & ACCOUNTING
AI is also being used to improve finance and accounting
processes. Machine learning algorithms can analyze financial
data to identify patterns and anomalies, allowing companies to
detect fraud and errors more quickly. AI can also be used to
automate routine tasks, such as accounts payable and receivable.
By using AI to manage finance and accounting processes,
businesses can save time and reduce errors, improving their
financial accuracy and compliance. Additionally, AI can provide
valuable insights into financial trends and opportunities for
growth.
NEGATIVE USES OF AI
CYBERCRIME: AI can be used to carry out cyber
attacks such as phishing scams, malware distribution, and
ransom ware attacks.
UNFAIR HIRING PRACTICES: AI can be programmed
with biased alogarithms that discriminate against certain
groups of people, such as women, minorities, and older
workers.
 SPREAD DISINFORMATION: Disinformation is spread
on social media and other online platforms, causing
confusion and harm.
 CONCLUSION
In conclusion, AI is becoming increasingly important in
the business world, providing numerous benefits to
companies across various industries. By incorporating AI
into their operations, businesses can improve efficiency,
reduce costs, and enhance customer experiences.
As AI technology continues to advance, it is likely that
its uses in business will expand even further. Companies
that embrace AI now will be better positioned to succeed
in the future economy.