Answer to Question #219506 in Macroeconomics for emy

Question

What is Artificial Intelligence? Provide its relevance in business organizations by providing some examples.

Answer 1

Artificial intelligence is the use of computers and technologies to simulate the human mind's problem-solving and decision-making abilities. In business, artificial intelligence simply refers to the use of intelligent computer software with human-like characteristics to raise revenue, improve customer experience, increase productivity and efficiency, and drive business growth and change. Artificial intelligence (AI) is quickly being accepted and deployed into businesses of all sizes, with the goal of generating revenue, lowering operational costs, or connecting with customers. AI integration in business aids enterprises and organizations in being more efficient and astute.