AI in the commercial area E-Book

Dr. Maged Hassanien

• Herausgeber: epubli
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 104

Veröffentlichungsjahr: 2024

Beschreibung

At a time characterised by constant progress and digital transformation, the business world is experiencing a revolution. Artificial intelligence (AI) is on the rise. The fascinating developments in the field of artificial intelligence have not only changed the way companies do business, but have also redefined the dynamics of commercial processes. As a key player in this development, AI offers a wealth of opportunities to optimise processes, increase efficiency and open up new horizons for data-driven decision-making.1 The term "artificial intelligence" may still sound like science fiction to many, but it has long since become reality and is shaping the business landscape. AI refers to systems that can imitate human intelligence, learn complex tasks, solve problems and even make decisions independently. In a business context, this technology is increasingly seen as an indispensable resource that is revolutionising the traditional working day and enabling companies to adapt to the demands of an increasingly globalised and digitalised economy. The relevance of artificial intelligence (AI) in the business world is of fundamental importance for companies striving for sustainable success and competitive advantage in an increasingly complex business world. Artificial intelligence offers a wide range of applications to revolutionise efficiency, accuracy and flexibility of business processes. Below are some general reasons why AI is so important for the business sector:3 1) Increased efficiency: AI enables the automation of repetitive, time-consuming tasks in the area of commercial administration. By relieving companies of monotonous activities, they can utilise resources more efficiently and devote themselves to more demanding tasks.

Leseprobe

KI IN

THE COMMERCIAL

AREA

The impact of AI on commercial operations

rich

Expose

Artificial intelligence is finding its way into every area of life - including the commercial area of companies - every department of a company benefits from AI - the changes in the respective selected areas in a company are analysed here.

shown.

Dr Maged Hassanien

Table of contents

1

Scientific essay

Dr Maged Hassanien

Effects of AI in the commercial/corporate sector:

What general and specific effects does AI have on individual areas of

commercial/entrepreneurial activity?

Table of contents

2

Table of contents

Table of contents................................................................................................................2

List of illustrations .............................................................................................................4

Introduction, relevance, problem, research question .........................................................5

1

Methodological approach ..........................................................................................9

2

Theoretical basics ....................................................................................................10

2.1

Conceptual explanation of the AI topic...........................................................10

2.1.1

General explanation of artificial intelligence (AI)...................................10

2.1.2

Maturity levels of AI in companies .........................................................11

2.1.3

Specific explanation of artificial intelligence ..........................................13

2.2

General areas of application / possibilities of AI systems...............................14

2.3

AI influence on the future company ................................................................15

2.4

Use of AI in commercial areas ........................................................................16

2.5

Impact and problem areas in the use of AI......................................................19

3

Effects of the use of AI in commercial areas...........................................................22

3.1

Effects of the use of AI in accounting and financial management 23

3.2

Impact of the use of AI in accounting..............................................................25

3.3

Impact of the use of AI in human resources ....................................................27

3.4

Effects of the use of AI in marketing:..............................................................31

3.5

Impact of the use of AI in sales .......................................................................33

3.6

Impact of the use of AI in procurement...........................................................35

3.7

Impact of the use of AI in customer service ....................................................38

3.8

Impact of the use of AI in logistics and warehousing......................................41

3.9

Impact of the use of AI in project management...............................................46

3.10

Impact of the use of AI in legal and contract management..............................48

3.11

Impact of the use of AI in the tax area.............................................................49

3.12

Impact of the use of AI in the production sector..............................................53

3.13

Further key effects of the use of AI in / in all commercial area(s)..................55

3.13.1

Effects of the use of AI on data protection ..............................................55

3.13.2

Impact of the use of AI on ethics / governance .......................................57

3.13.3

Effects of the use of AI on employees' judgement 59

4

Summarising and answering the research question..................................................62

5

Conclusion and outlook ...........................................................................................66

Table of contents

3

Bibliography.....................................................................................................................67

List of illustrations

4

List of il ustrations

Figure 1: Maturity levels of AI that can prevail in companies........................................12

Figure 2: Further development of AI generations in their intelligence. ..........................14

Figure 3: AI systems in their three basic applications. ....................................................15

Figure 4: AI influence on the future company - interaction of the central units for a

successful implementation of AI .....................................................................................

16

Figure 5: Contract design - optimised smart contracting.................................................35

Figure 6: Contract support - starting points. ....................................................................36

Figure 7: Sales algorithms - possible starting points .......................................................36

Figure 8: AI in automated sales support. .........................................................................38

Figure 9: Customer service - automated customer communication. ...............................39

Figure 10: Logistics companies' assessment of the importance of AI for the logistics

industry ............................................................................................................................

42

Figure 11: Application model of machine learning in logistics (Dortmund). .................43

Figure

12: Manual

activities in logistics - using AI to

classify movements in the future of logistics. 44

Figure 13: Control workstation of the future - characterised by AI ................................50

Figure 14: Possible applications of future AI in taxation. ...............................................51

Figure15

: Schematic representation of a booking machine with AI support............

51

Figure 16: Company data - with AI interest....................................................................55

Figure 17: Data life cycle with data phases. ....................................................................56

Figure 18: Use of AI in finance and accounting - survey of possible areas ....................

63

Figure 19: AI support in finance and accounting - survey of possible tasks...................

64

Figure 20: Use of robotics in finance and accounting - survey of possible routine

applications ......................................................................................................................

65

Introduction, relevance, problem, research question

5

Introduction, relevance, problem, research question

Introduction:

At a time characterised by constant progress and digital transformation, the business world is experiencing a revolution. Artificial intelligence (AI) is on the rise. The fascinating developments in the field of artificial intelligence have not only changed the way companies do business, but have also redefined the dynamics of commercial processes. As a key player in this development, AI offers a wealth of opportunities to optimise processes, increase efficiency and open up new horizons for data-driven decision-making.1

The term "artificial intelligence" may still sound like science fiction to many, but it has long since become reality and is shaping the business landscape. AI refers to systems that can imitate human intelligence, learn complex tasks, solve problems and even make decisions independently. In a business context, this technology is increasingly seen as an indispensable resource that is revolutionising the traditional working day and enabling companies to adapt to the demands of an increasingly globalised and digitalised economy.

In this introduction, we will look at the diverse areas of application of AI in the commercial sector. These range from finance and marketing to warehousing and production. The development of AI in these areas promises not only a drastic improvement in work processes, but also a transformation of corporate performance that goes far beyond what was previously thought possible.

However, these ground-breaking advances also raise important questions, ranging from ethical considerations to the potential impact on the world of work. For this reason, this study on artificial intelligence in the business world will not only highlight the positive aspects, but also examine the challenges and opportunities that this technology brings to businesses and society as a whole. Let's dive into the world of artificial intelligence and explore how it is shaping and moulding the commercial sector in a sustainable way.2

General relevance.

The relevance of artificial intelligence (AI) in the business world is of fundamental importance for companies striving for sustainable success and competitive advantage in an increasingly complex business world. Artificial intelligence offers a wide range of applications to revolutionise efficiency,

1 See Bertelsmann 2021, p. 34f.

2 See Bitkom 2017, p. 56f.

Introduction, relevance, problem, research question

6

accuracy and flexibility of business processes. Below are some general reasons why AI is so important for the business sector:3

1) Increased efficiency: AI enables the automation of repetitive, time-consuming tasks in the area of commercial administration. By relieving companies of monotonous activities, they can utilise resources more efficiently and devote themselves to more demanding tasks.

2) Accuracy and minimisation of errors: Artificial intelligence systems are able to analyse large amounts of data in a short time while minimising human error.

This is particularly important in areas such as accounting and financial management, where accuracy is crucial.

3) Data-driven decisions: AI enables the comprehensive analysis of large data sets to recognise patterns and trends. This enables companies to make well-founded, data-driven decisions based on precise information.

4) Customer interaction and personalisation: AI can be used in marketing to analyse customer behaviour and provide personalised interactions. This not only results in an improvement in customer loyalty, but also the development of targeted marketing strategies.

5) Speed and processing in real time: Artificial intelligence allows huge amounts of data to be processed in real time. This is particularly relevant for decision-making processes in logistics, production or customer service that require fast reactions.4

Special relevance:

6) Risk management: In the commercial sector, AI can help with the early detection of financial risks. The technology can point out irregularities or deviations that indicate potential risks by analysing market data and business transactions.

7) Cost optimisation in the supply chain: In logistics and purchasing, AI can help to optimise the supply chain. This includes predicting changes in demand, efficient route planning and automated inventory management to minimise storage costs.

8) Optimisation of production processes: In production, AI can be used to monitor production processes, improve quality and for predictive maintenance.

The result is not only an increase in efficiency, but also the minimisation of downtimes. 5

3 Cf. Bitkom 2017, p. 58f./Cf. BMWE 2020.

4 Ibid.

5 Ibid.

Introduction, relevance, problem, research question

7

The relevance of AI in the business world therefore extends to a variety of business areas and enables companies to better adapt to the challenges of the modern economy. By integrating AI, companies are not only able to optimise their business processes, but also find innovative ways to offer their customers added value.6

Problem:

Despite the many benefits of integrating artificial intelligence (AI) into the business world, there are also a number of challenges and problems. Some of the most important points are:7

1. Data protection and ethics: Using AI in business means accessing large amounts of data. This can raise concerns about data protection. This is especially true for personal or sensitive data. To maintain the trust of customers and employees, companies must ensure that ethical standards are adhered to.

2. Changes to human labour: The world of work may change as a result of automation with the help of AI. Some manual and repetitive tasks could be taken over by machines, which could lead to a reorganisation of jobs and possibly the need for new qualifications. The social and economic impact on workers will therefore need to be considered.

3. Bias and discrimination: AI systems are based on data that may be an expression of bias or discrimination. When using such systems to make decisions in the economy, there is a risk of reinforcing existing inequalities.

A conscious approach to the quality and diversity of data is therefore crucial for minimising such problems.

4. Complexity and barriers to implementation: The introduction of AI often requires significant investment, both financially and in terms of expertise.

For some companies, especially smaller companies that may not have the resources for a comprehensive implementation, the complexity of AI systems can be a hurdle.

5. Loss of human judgement: AI is efficient and precise, but often lacks human judgement and emotional intelligence. The sole use of AI can lead to limitations in certain situations that require differentiated understanding or interpersonal skills.

6 Ibid.

7 Cf. DATEV 2018, p. 3-40/Cf. Deloitte 2020.

Introduction, relevance, problem, research question

8

6. Legal and regulatory uncertainties: Legal and regulatory uncertainties arise from the rapid progress of AI development. Companies must ensure the compatibility of their AI applications with the applicable regulations in order to avoid legal problems.8

Recognising these issues and actively developing strategies to address the ethical, social and economic challenges associated with the introduction of AI in the business world is important. A balanced understanding of these issues is critical to maximising the benefits of AI while minimising potential risks.

The following research question for this scientific study arises from the explanations in the introduction - the relevance and the problem:

Effects of AI in the commercial/corporate sector:

What are the general and specific (ethical and economic) implications of AI for individual areas of commercial/entrepreneurial activity?

This thesis therefore examines AI in the commercial area of application - where is it useful and why - what effects are conceivable here in general and then in particular - the effects relate to the work process, the effects on employees, the ethical and legal effects and the particular advantages of using AI.

8 Ibid.

Methodological

9

approach

1 Methodological approach

This work is a literature review in the general and specialised literature areas - based on the relevant internet search engines.

The basis for the general subject areas is the Internet literature - this describes and underpins the topic of AI in a general framework: what is AI - what does AI do - what does AI mean for the economy - what and how does AI affect the economic areas.

The further literature review refers to the nationally and internationally recognised institutes and institutions: e.g. Fraunhofer Institute - Bitkom - business consulting companies - universities - scientists.

The special literature is the basis for this work - Effects of AI in the commercial sector -

in commercial behaviour.

The work starts with the presentation of AI - here, AI in general is introduced and the possible impact potential on the economy and the commercial areas.

Chapter 4 begins the central investigation of the thesis - here, the effects of AI use in the designated commercial areas are analysed and their concrete effects are presented. The topics of data protection, ethics, governance and employee judgement with regard to the impact of AI are also presented.

In chapter 5, the summary of the work will prepare and present the answer to the research question.

A conclusion and an outlook on the impact of AI on future commercial areas conclude the study.

Theoretical basics

10

2 Theoretical basics

In this chapter, the topic of AI in general and in particular is first conceptually explained in order to set out the content basis for this study.

Furthermore, the possible commercial areas that make the use of AI sensible and possible are discussed - the effects here will be dramatic in the future and will bring about extreme changes in any direction.