Length: 1500 word

Task Description:

explore the transformative effects of Artificial Intelligence (AI) on a specific business of your choice. Through critical analysis and strategic insight, you will assess the impact of AI technologies on the chosen business model and propose recommendations for strategic adaptation.

Assignment Guidelines:

Business Selection: Choose a business from any industry that you are interested in (e.g., retail, healthcare, finance, transportation) to analyse its current business model and assess the potential implications of AI integration.

AI Impact Assessment: Research and identify how AI technologies are currently being used within the chosen industry and their potential impact on business operations, customer experiences, and competitive dynamics. Consider applications such as predictive analytics, process automation, personalized recommendations, and chatbots.

Business Model Analysis: Analyse the current business model of the chosen company, focusing on key elements such as value proposition, revenue streams, customer segments, distribution channels, and cost structure. Evaluate how AI technologies could disrupt or enhance each aspect of the business model.

Recommendations for Business Model Adaptation: Based on your analysis, provide specific recommendations for adapting the business model to harness the benefits of AI while addressing potential challenges. Outline actionable steps for restructuring operations, redesigning products or services, and enhancing customer engagement strategies.

Ethical and Social Implications: Discuss the ethical and social implications of AI integration within the chosen business context, including concerns related to privacy, bias, job displacement, and societal impact. Provide recommendations for ethical AI practices and responsible use of data.