AI Transforming Business and Everyday Life

The aim of this chapter is to discuss the benefits of AIArtificial Intelligence (AI) systems that foster fundamental business transformation. The effects emerging from the literature audit and substantiated in the model testing hereby demonstrate the power of AI systems to equip companies with the tools needed to manage their relationships with customers in an economically feasible manner. In the literature brought to the table, we see a profound discussion on the expected development of AIArtificial Intelligence (AI) systems, and the possibility of replacing humans in the near future. Large language model (LLM)Large Language Model (LLM) incorporating machine learning (ML)Machine Learning (ML), deep learning (DL)Deep Learning (DL), and natural language processing (NLP)Natural Language Processing (NLP) techniques can aid in training on how to collect and handle large amounts of data. Managing such data quickly, correctly, and securely, could generate market intelligence to boost investments and revenues, which any company wants to achieve. AIArtificial Intelligence (AI) may encourage more accurate, distinctive, and scalable marketingMarketing, personalised businesses (plans) tailored to specific userUser demands. Having access to a vast array of customer data, AI can refine browsing history and generate personalised strategies for better targeting, resonating with individual(s) demands. In such a way, it is possible to differentiate not only between customers, but also between companies, by offering a unique selling point, USPUnique Selling Point (USP). Elevating chatbotChatbot capacity with the characteristics as emerging hereby to be crucial in AIArtificial Intelligence (AI) efficiency and agency, is a prerequisite for delivering the desired USP, to create experienceExperience that brings customers to a journey beyond the traditional market space. However, there are some challenges, such as the riskRisk, privacyPrivacy, and ethics, that need further attention. Moreover, the biasBias, believability, and authenticity of information exchange invite further exploration. Although, recently developed and implemented AI systems may generate high volume and diverse content. It turns out this content could be fabricated and not necessarily reflect real facts and data. This is a serious issue worth explanation, given the impact it may have on scaling up business and shaping everyday life, as discussed in detail below.