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Review Papers | Business Management | India | Volume 13 Issue 10, October 2024 | Popularity: 5.9 / 10

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Strategic Economic and Ethical Implications of Artificial Intelligence in Indian Business

Teena Rawat, Trisha Shetty

Abstract: Artificial Intelligence (AI) is changing the business scene by giving new chances for development, efficiency, and inventiveness. The study explores how AI impacts business operations through observational and descriptive analyses, emphasizing factors such as innovation, benefit optimization, and administration to comprehend impacts. Businesses are progressively using AI to improve efficiency and empower inventiveness. In any case, the usage of AI also raises significant concerns, especially concerning work relocation, pay to lessen, and workforce change. Ethical issues, counting partiality in AI algorithms, and defending information, pose significant challenges. The essential issue was understanding the degree of AI's effect on business procedures, especially its part in improving decision-making forms and operational productivity. Here we show that consistent alteration and skill enhancement are basic for effectively utilizing AI in business. It shows that AI can upgrade business operations and promote strategies. Contrary to past beliefs that AI solely drives effectiveness, the discoveries highlight the significance of human versatility and moral transparency in maximizing AI's benefits. The research shows that AI's capacity to bring about alter goes past fair technological progress, expanding to business exercises' moral and social viewpoints. This detailed comprehension illustrates the dual requirement for innovative progression and moral vigilance. The discoveries highlight the significance of companies finding an adjustment between AI progressions, moral standards, and workforce development. By giving significance to reasonableness and transparency, companies can completely utilize the potential of AI while diminishing related risks. This comprehensive approach ensures that progress in AI benefits both the long-term success of businesses and the well-being of society. Integrating AI into business procedures boosts productivity and client satisfaction and advances nonstop development and adjustment. Businesses now have superior devices to adjust quickly to changes within the market and buyer demands, making a difference in keeping up their competitive advantage.

Keywords: Artificial Intelligence, Small Business, Large Business, India, Marketing

Edition: Volume 13 Issue 10, October 2024

Pages: 939 - 949

DOI: https://www.doi.org/10.21275/SR241012080519

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