Answer to Question #288644 in Finance for Jen

Question

Technological advancements are being introduced and adopted by businesses and organizations at a rapidly increasing rate. What changes do you see taking place in business processes due to the advancements in information technology? What business processes do you see remaining the same even as new technological advancements are introduced? Write 100 words for the answer.

During the year 2020 the world experienced the Covid-19 pandemic. Many company employees worked from home. What effect did the pandemic have on a company’s information system as well as its use of artificial intelligence, data analytics, and blockchain? Write 100 words for the answer.

Answer 1

• Information technologies are ways to facilitate standard business processes. All standard business processes will remain, but Internet trading, remote work at home, etc. will develop.
• The pandemic has had a huge impact on the work of online commerce and on the use of information systems for work at home. The COVID-19 pandemic has accelerated the introduction of artificial intelligence into various spheres and business processes of companies around the world, according to analysts. According to McKinsey's December study, 61% of companies that linked a significant part of their profits to the introduction of AI in 2019 increased investments in this technology during the pandemic. Deloitte estimates that 73% of companies have started intelligent automation, which is 58% more than a year ago.