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Paper info: Artificial Intelligence in Business Markets: A Systemic Approach

Title


Artificial Intelligence in Business Markets: A Systemic Approach

Authors


Sergio Biggemann
University of Otago
New Zealand
Sergio Biggemann and Luis Soto

Place of Publication


The paper was published at the 34th IMP-conference in Marseille, France in 2018.

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Abstract


Computer scientists have been talking about Artificial Intelligence (AI) since the 1950s, however, it is only now that owing to advances on digital techonology AI appears to have started having real impact on the business field. We have overtaken a systemic view of artificial intelligence in business in order to capture the Smart Logistics and Marketing Ecosystem (Soto & Biggemann, 2018), where AI integrates smart warehouses and points of sales, markering based on big data, location and customers' profiles, smart agents - bots, autonomous vehicles fo the last mile, smart devices capable of assisting customers, and engagement graphs and social interaction. A conception of a smart logistics and marketing ecosystem has now moved from the theoretical real to practice, however, the extent at which AI will change how businesses interact is difficult to predict; for instance, the latest Gartner research suggests that by 2020, 85 percent of customer interactions will be managed by AI. If Gartner's forecast proves accurate, the knowledge of business interaction developed by the IMP Group research over the last 40 years will need significant updates. AI Applications are only starting to emerge, researchers predict AI will outperform humans in many activities in the next ten years, applications such as translating languages (by 2024), writing high-school essays (by 2026), driving a truck (by 2027), working in retail (by 2031), writing a bestselling book (by 2049), and working as a surgeon (by 2053) are only part of the list. Grace, Salvatier, Dafoe, Zhang and Evans (2017) report that their research respondents believe there is a 50% chance of AI outperformering humans in all tasks in 45 years and of automating all human jobs in 120 years.