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Read the abstract below and answer ALL questions that follow Barriers and benefits of Artificial Intelligence adoption in small and medium enterprise Abstract The focus

Read the abstract below and answer ALL questions that follow Barriers and benefits of Artificial Intelligence adoption in small and medium enterprise Abstract The focus of the study of this paper is to understand the constraints and benefits of AI adoption in Small and Medium enterprises (SMEs). In today's competitive business world, if SMEs do not upgrade with available technologies, they may lose their competitive position. Researchers have tried to address the issue by exploring questions related to the challenges and advantages of AI adoption in SMEs. Past research and literature on challenges and barriers to AI application in SMEs were reviewed and found that the factors such as AI technical competencies of human resources, poor financial position, size of the organization, the orientation of promoter of business, awareness of AI benefits, data quality are the foremost challenges and the customized AI technologies assist in improvement in the performance of decision making, acquisition, development, and retention of employees, management of inventory, creation of customer base and understanding of buying behaviour and protecting SMEs from cyberattacks. The primary scope of artificial intelligence is trying to gain a strategic advantage in e-business, human capital, operations, market research, customer relationship, accounting and finance, sales, marketing, etc. The fundamental aim of artificial intelligence is to improve operational efficiency in terms of organizational performance, increase sales volume, minimize the cost, automation of customer management, timesaving, and collection of advanced data and processing of data. The actual artificial intelligence is serving organizations in offering flexible, adaptable, and interactive alternatives to satisfy varied customer needs. In today's business scenario, artificial intelligence-based applications are the most suitable choices for both large size organizations and SMEs. The AI-based applications enable functional marketing areas to identify the customer and their buying behaviour (Sureka,2020). AI adoption in the health care sector, such as patient handling systems, medicine supply, and other requirements of medicines (Kumar, Pujari, & Gupta, 2021). Artificial intelligence offers various opportunities for the marketing of enterprises. The small and medium enterprises are not affordable traditional means of advertising as like large organization, lack of data generation and storage. The AI solutions can play an incredibly significant role in enabling SMEs to find out prospective customers in a most precise way, The SMEs must communicate required relevant information to customers and should align product and services as per buying behaviour of the consumer, so they can get a competitive advantage (Huang,2019). The study conducted by Bunte, et al.,(2021) found that lack of expertise, initial cost and time investment, infrastructure, resources, experience, and size of company are the significant challenges in the adoption of AI in SMEs. Artificial intelligence-based marketing solutions are the game changer for many SMEs around the world. AI allows business decision-makers to identify and understand the buying behaviour of the customer, so the SME marketers formulate suitable strategies which match the target customers. AI-based marketing technologies are helping SMEs in the acquisition of potential customers and retention of existing customers. The AI-based call centre can provide a standard solution to enquire related availability of product stock, opening hours, and cancellation of reservations (Google,2020). The adoption of artificial intelligence-based technologies in SMEs can add value and give a competitive advantage (Bhalerao,2018).
QUESTION 1(25 Marks) Based on the above study, analyse the barriers of adopting Artificial Intelligence (AI) in the mining industry to improve safety. In your response, include the ways in which artificial intelligence can benefit the mining industry.
QUESTION 2(25 Marks) The primary scope of artificial intelligence is trying to gain a strategic advantage in e-business, human capital, operations, market research, customer relationship, accounting and finance, sales, and marketing. Referring to the study, evaluate the ways in which artificial intelligence is disrupting the retail industry.
QUESTION 3(25 Marks) The fundamental aim of artificial intelligence is to improve operational efficiency in terms of organisational performance, increase sales volume, minimize the cost, automation of customer management, timesaving, and collection of advanced data and processing of data. With reference to the study, assess the application of big data in the media and entertainment industry. Include in your response the characteristics of big data.
QUESTION 4(25 Marks) The global artificial intelligence industry is expected to grow from $59.6 billion in 2021 to $422 billion by 2028. Virtually, AI, automation, and robo

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