Expert and non-expert perspectives on ai’s impact on business

Abstract

With the consolidation of Artificial Intelligence (AI) and its incorporation in the fourth industrial revolution (Industry 4.0), businesses and industries worldwide are now competing to become AI-focused entities. Economic development and growth are intertwined with the strategic development and implementation of AI-driven systems and tools in several sectors including marketing, production and management for an increasing number of entrepreneurial entities. On top of this, it is now undeniable that the actual impact of AI on business is growing at a fast pace, resulting in a series of challenges in terms of technology business regulations, employee’s security and companies management. As a result, the current research, which has been conducted within the framework of the Erasmus+ HEDY-Life in the AI Era project, aims to analyse the relation and most importantly the impact of AI on business. In doing so, it dwells on a detailed desk research supported by the remarks made by AI-experts and non-experts during two different focus groups sessions.