Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I agree that artificial intelligence and big data can add a lot of value to any firm's manufacturing process. The advantages are numerous and the

I agree that artificial intelligence and big data can add a lot of value to any firm's manufacturing process. The advantages are numerous and the technology should be included whenever possible. The main disadvantage here is cost. The cost or initial investment to implement these technologies is more than most small firms can handle. Not only is there a large cost for licensing the software for these technologies, but new employees must be hired to oversee them. Computer scientists, data scientists, and re-training of key managers will all be required to get the most out of the new technology. Thankfully "as technologies continue to improve and are adopted more widely, their costs may decline and place them within the reach or smaller firms (Jacobs

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial and Managerial Accounting

Authors: Horngren, Harrison, Oliver

3rd Edition

978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978

Students also viewed these General Management questions