provide the solution to common business | My Assignment Tutor

Barrett Jones GCU: MGT-670 January 24, 2021 As the Executive Vice President of product and innovation technology, I will provide the solution to common business problems of product and innovation through Artificial Intelligence. The ethical implication of adopting AI, the impact of AI on measurable organization value, and the impact of AI on five business components have also been discussed in this paper. Walmart is among the top multinational American retail corporations that operate a hypermarket chain (Courtemanche et al., 2019). Hence, to manage such large businesses and keep the customers and employees happy, they need to optimize the business process through Artificial Intelligence technologies.       Problem Walmart’s current major problem is the customers; even after having lower prices than competitors, Walmart’s U.S stores are still struggling to attract customers (Gustafson, 2020). The are some other business process problems of Walmart that the organization has been working with for the last few years. According to the report, their stocks are not manageable, and restocking shelves are not fast enough. In some areas of U.S. store space, layout and design are not convenient for customers. To maintain a considerable customer crowd store must have space or integrated technology. Lost’s of physical work for workers and customers in-store means lack of technology in stores. Hence, the common challenge is to manage the customers in stores (Mourdoukoutas, 2016). The solution to the problem with Artificial intelligence Unlike humans’ real intelligence, Artificial Intelligence is the visual intelligence of machines that work on predefined logics ad commands, for example, Chatbots, autogenerated mails, and data automation with logic (Acemoglu & Restrepo, 2018). Adopting AI in the industry has become a trend these days. AI can solve business problems and provide efficiency in work with less man’s input and less time. Implementing AI in-store will save time for both customers and retail staff. Ai technology intervention can simplify tasks such as stocking shelves, managing inventory, and customers using a camera, sensors, and relevant hardware. This has been tested before where store works are Intelligent Retail Lab (IRL). With the high-tech store, Walmart can compete with other rival brands, and it will also enable the opportunity to penetrate the new market (Thomas, 2019). AI helps reduce physical efforts. Hence, less working staff can entertain more customers with AI; in the back of the stores, product management can be accomplished through AI, reducing the work for teams. Ultimately it can help to reduce the overall cost of stores (Ivanov & Webster, 2017). Impact of Adopting A.I. on MOV Introducing AI will reduce the worker’s load, and with fewer people, it will be easier to maintain social distancing during the COVID-19 pandemic. Hence, the company can provide secure and safe services to customers. Also, reducing the number of staff will enable opportunities to align them in other operational areas with the same budget. A.I. will enhance the status of stores, and it will help to increase popularity among the customers. Adopting A.I. in store will bring positivity to workers and management; hence, they will serve the customer more effectively and friendly. Integrity is essential for any organization, and with A.I., it will be easy to monitor the store and workers; thus, it will help maintain integrity. Respect is also an essential aspect of a business environment. Organizational performance is also one of the critical parts of business values; overall organizational performance depends on the employees or working staff. A.I. will bring a healthy environment in the workplace, assist the staff and customers; hence, and improve efficiency (Brynjolfsson, Rock & Syverson, 2018). Impact on Five Components According to the five components framework, the five components of an information system are Hardware, Software, Database, Network, and Procedure. This information system in the organization contributes to driving performance and manages the data (Gregersen, 2021). AI comes with innovative hardware such as AI-based robots, automatic machines that can lift the weight by instructions. It will ease the burden of data management with the automation of data, also improving the network and telecommunication in the organization with services such as chatbots. Massive data collection is also possible to maintain by AI (Idexcel, 2018). The procedure is the way to run and maintain the information system; AI will replace and minimize the human’s input in terms of customer assistance, packaging, loading of goods, and billing process. Hence, Implementing AI in Walmart stores will make the information system smoother and fast with less workforce and less time duration as long as the software of the AI is up-to-date with new patches to prevent or fix operating errors. Ethical Implication of Artificial intelligence In the race of adopting innovative technologies, organizations often ignore the ethical issues associated with such technologies; hence, to reduce these risks, the moral implication is important (Martin, Shilton & Smith, 2019). To reduce associated risk and improper use, AI should be implemented with the usage policy where guidelines must be there for each stakeholder. It should have a proper controlling system and should be unbiased. For instance, Microsoft had experienced it when their AI-based chatbot interacted with Twitter users and learned inappropriate information. With the increasing cybercrime, the ethical use of technology has become a significant concern. Less secured technologies can be hacked or used to manipulate people. Hence, to avoid its misuse in stores, a security system must be installed to reduce the hacking risks. It should have limited usage in-store, and customer’s privacy must be the top priority (Drew, Tysiac & White, 2018). In the Christian Worldview standpoint, it is important to note that the use of AI to assist in the every day tasks of the ground worker that it does not let them become slothful. Lazy people want much but get little, but those who work hard will prosper. -Proverbs 13:4 NLT Based on the above analysis, it can be said that multinational American retail corporations such as Walmart are having customer management problems in stores. Due to this, they cannot retain the old customers. Also, it is vital to run the business in the current pandemic while maintaining a distancing and safe environment. AI can be possible where all the manual work can be replaced with automation, software, and robots. It will improve the efficiency with fewer human resources. However, there are limitations of AI, and ethical use is more important; hence, it is recommended to make effective policy while adopting new technology. References Thomas, L. (2019). Walmart’s battle with Amazon has new fronts: Digital ads and A.I. Retrieved from: https://www.cnbc.com/2019/05/16/from-advertising-to-ai-walmart-is-doing-a-lot-more-than-retail.html Acemoglu, D., & Restrepo, P. (2018). Artificial intelligence, automation and work (No. w24196). National Bureau of Economic Research Ivanov, S. H., & Webster, C. (2017). Adoption of robots, artificial intelligence and service automation by travel, tourism and hospitality companies–a cost-benefit analysis. Artificial Intelligence and Service Automation by Travel, Tourism and Hospitality Companies–A Cost-Benefit Analysis. Gustafson, K. (2019). Wal-Mart’s biggest problem: Its customers. Retrieved from: https://www.cnbc.com/2014/05/19/iggest-problem-its-customers.html Courtemanche, C., Carden, A., Zhou, X., & Ndirangu, M. (2019). Do Walmart supercenters improve food security?. Applied Economic Perspectives and Policy, 41(2), 177-198. Mourdoukoutas, P. (2016). Walmart Needs to Reconnect with Customers and Employees. Retrieved from: https://www.forbes.com/sites/panosmourdoukoutas/2016/02/18/walmart-needs-to-reconnect-with-customers-and-employees/?sh=5e3dc7e530b2 Brynjolfsson, E., Rock, D., & Syverson, C. (2018). Artificial intelligence and the modern productivity paradox: A clash of expectations and statistics. In The economics of artificial intelligence: An agenda (pp. 23-57). University of Chicago Press. Gregersen, E. (2021). 5 Components of Information Systems. Retrieved from: https://www.britannica.com/list/5-components-of-information-systems Idexcel. (2018). Artificial Intelligence is Changing the Information Technology Sector. Retrieved from: https://www.idexcel.com/blog/artificial-intelligence-is-changing-the-information-technology-sector/

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