FORMATIVE ASSESSMENT 1 [100 Marks] Artificial intelligence (AI) can be implemented in various industries. Fashion Station is a clothing retail business. The owner of Fashion Station has decided to implement artificial intelligence technology to the online retail portion of the business to identify trends in online consumer behaviour. You are appointed as the Business Analyst with expert knowledge on artificial intelligence being used within the business environment similar to Fashion Station. Answer ALL the questions in this section.

Question 1 (20 Marks)

Provide a detailed report to the management of Fashion Station elaborating on the steps to consider when investing in artificial intelligence for a business similar to Fashion Station.

Question 2 (20 Marks)

Big Data Analytics is commonly used to determine the trends and patterns of consumer online behaviour. When researching the trends in big data analysis, you had come across a concept called retail analytics. Retail analytics is the process of using big data to optimise pricing, supply chain movement, and improve customer loyalty. Report to the management of Fashion Station on any FIVE (5) ways Big Data is transforming the retail industry.

Question 3 (20 Marks)

Sales managers at Fashion Station need to be knowledgeable on the pros of artificial intelligence before adding it to their sales processes. In your role as the artificial intelligence (AI) for business expert, in your presentation on the benefits of AI to Fashion Station, explain to the sales team at Fashion Station on any FIVE (5) benefits of AI for sales at Fashion Station.

Question 4 (20 Marks)

Chatbot technology is the important key to the personalized client management and high-value customer experiences. Meanwhile, chatbots help retailers to compete with big players like google and amazon. Management of Fashion Station has requested you to report on how chatbots are making an impact in the retail industry. Provide a detailed report to management elaborating on at least FIVE (5) benefits of implementing chatbots in retail.

Question 5 (20 Marks)

The ethical impacts of AI applications are also important for retailers to consider. Specifically, concerns about data privacy, bias and the applications appropriateness can affect if and how AI is implemented. Provide a detailed report to management elaborating on how Fashion Station could implement ethical AI in retail marketing