Artificial Intelligence: Creating Value For Business And Beyond

Angeleski, Marjan and Kostoska, Olivera (2022) Artificial Intelligence: Creating Value For Business And Beyond. In: XVIII. IBANESS Congress Series on Economics, Business and Management, 26 -27 November, 2022, Ohrid - Republic of North Macedonia.

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Economic growth and a nation’s wealth are closely related to how the countries will employ data and connected technologies. Artificial intelligence has become a reality of the world that can no longer be viewed as a technology of the future – it is already changing our lives and reshaping the future of humanity across almost every industry. The benefits of artificial intelligence for people are clearly visible in the opportunities of obtaining improved health care, getting easier access to information and education, and receiving customized, cheaper and longer-lasting products, to name but a few. Besides, artificial intelligence can significantly contribute to day-to-day business operations by improving the customer service, creating a personalized user experience, increasing production output and quality, reducing costs, boosting sales etc. This paper briefly explains the concept of artificial intelligence, including the difference between human and machine intelligence, and defines the major sub-fields of artificial intelligence, with special reference to machine learning and deep learning. Taking into account the potentials for developing a new generation of products and services, as well as the possibilities for changing job positions, the article also looks over the key threats and opportunities related to the applications of artificial intelligence across various industries.

Item Type: Conference or Workshop Item (Paper)
Subjects: Scientific Fields (Frascati) > Social Sciences > Economics and Business
Scientific Fields (Frascati) > Social Sciences > Other social sciences
Divisions: Faculty of Economics
Depositing User: Mr Dimitar Risteski
Date Deposited: 14 Sep 2023 04:57
Last Modified: 14 Sep 2023 04:57

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