Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Your company is contemplating the adoption of general artificial intelligence (genAI) to streamline operations and enhance decision-making processes. Implementing such technologies involves changes in infrastructure,

Your company is contemplating the adoption of general artificial intelligence (genAI) to streamline operations and enhance decision-making processes. Implementing such technologies involves changes in infrastructure, training, and potentially, business models. Considering these factors, what might be the impact of integrating genAI on your company's transaction costs? Group of answer choices Significant and sustained increase in transaction costs due to ongoing needs for updating technology, maintaining high levels of cybersecurity, and managing specialized staff and technology partnerships. No significant change in transaction costs, as savings from automation are offset by new expenses related to technology management and compliance with regulations. Increase in short-term transaction costs due to expenses related to technology integration, training for employees, and complex contract negotiations, but potential for long-term cost savings as processes become automated and decision-making is enhanced

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Retailing Management

Authors: Michael Levy, Barton A Weitz

8th Edition

0073530026, 9780073530024

More Books

Students also viewed these General Management questions

Question

Describe the parts of the self, according to William James.

Answered: 1 week ago

Question

1. Too understand personal motivation.

Answered: 1 week ago