The Impact Of Artificial Intelligence On Business & Social Values: Benefits, Challenges, And Future Directions

Abstract

AI, according to common belief, is an innovative instrument that can be utilized to improve business processes, change societal relations, and resolve the earth’s sustainability challenges. This article examines different positive effects brought about by integrating artificial intelligence into these areas within their social, economic, and technical contexts on the one hand and the problems it poses on the other. Data analysis enhances decision-making in various sectors. Anywhere today, whether it is necessary to optimize or invent anything new like smarter supply chains or more effective promotional campaigns, organizations are provided with required tools by AI, which comes in handy wherever there is a need for optimization or a new invention as smarter supply chain or effective promotion campaign creation among others. In addition to this incredible impact that AI technology has had on each sector, some view it negatively seeing as though many people could lose jobs due to automation offshoring ethical issues centralization power technological goliaths etcetera while alluding only positive side where through every field ranging from healthcare education transport public service delivery etcetera seem ripe for radical disruption through implementation of various AI applications Self better diagnosis group teaching safer cars peer teaching more effective diagnosis among others – these are just few examples how human life has been transformed by machines thinking faster than us But given that information gathering analysis involves personal data algorithm bias social division etcetera we now need enforceable regulation coupled with ethical conducts around sharing benefits arising from any artificially intelligent ship because otherwise there will always be winners and losers In addition potential diagnostics were introduced by ai together with optimization use foundation also climate modeling topped related environmental problems here therefore adoption would spark new ideas towards reducing human beings’ impact on earth However even so much consumed by ai itself technology remains environmentally unfriendly due mainly high energy consumption computations electronic waste hence they should put up friendly systems in creating them along ecological best practices during its implementation stage Management On Business Application Of AI At Societal And Planetary Level Is Complex That Calls For An Integrated Approach To Managing It With Broader Cross Functional Stakeholder Involvement As Well Ongoing Ethical Evaluation Its business applications and impact at the societal and planetary level are multifaceted which calls for integrated management with extensive cross functional and stakeholder engagement and on-going ethical assessment. Thus, there are key foundational questions that have major implications for realizing the benefits of AI while avoiding the potential pitfalls: How can societies, policymakers, industry, and civil society harness the opportunities that AI provides for the benefit of all the stakeholders and avoid falling prey to the negative consequences. ? Finally, based on this paper's various opined premises and conclusions, it is proposed that the advancement of AI welcomes further pursuit in the best interest of society by practicing responsible AI innovation and promoting an inclusive decision-making process toward an accountable and progressive future for all.