This chapter provides an introduction to the foundations of Artificial Intelligence (AI). The history and concepts of Artificial Intelligence are outlined, highlighting the fact that AI is not a new area of knowledge or system, unlike the recent popular belief suggests. It discusses the dynamic context of the business world being impacted by AI, covering some core concepts for business, the strategic integration of AI, the critical role of data analytics and future perspectives within the field. This chapter emphasizes the adaptability and scalability of business in the face of AI-driven changes. The literature review encompasses a wide range of sources, including academic research publications, case studies, and industry reports, providing a well-rounded perspective on the subject matter. Key themes emerging from the literature, such as AI-driven productivity enhancements, the challenges and opportunities of AI in organizations, trends, and new professional roles, are examined. In conclusion, this chapter aims to equip readers with a solid foundation for understanding how AI was created and is reshaping business operations processes and outcomes. By elucidating the key principles, applications, and impacts of AI, it serves as a valuable resource that helps highlight the transformative influence of generative AI on decision-making processes, automation, data analytics, and organizational strategies, serving academics, business professionals, and anyone seeking to navigate the intricate landscape of AI in the corporate world.
I propose to consider the question, “Can machines think?” Alan Turing, 1950
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The business landscape, like society in general, is witnessing a sweeping period driven by the integration of AI in many aspects of human activity. The automatization of many segments of society is linked to the recent massive layoffs by some Fortune 500 companies and the decimation of many small businesses. OpenAI, created in 2015 and released through ChatGPT in 2020 by entrepreneurs and co-founders Elon Musk, Sam Altman, Greg Brockman, Ilya Sutskever, John Schulman, and Wojciech Zaremba, among others (Widder, West, & Whittaker, 2023), propelled an extraordinary level of public curiosity and engagement with AI systems, making it the buzzword that many believe disrupted the conversation about business productivity and the future of workforce. Questions also arose regarding the origin of AI and its impact on human interactions and survival.
Whilst organizations equipped with proper technological apparatuses and the vision to embrace the new challenges imposed by AI are thriving and new roles are emerging from this transformative moment, it is also true that many jobs are being reevaluated and ended as result of the phenomenon. Organizations and individuals leveraging the power of AI are quick to accept, adapt, adopt, and use automated systems in routine tasks as well as, and most importantly, in technical and professional actions; from entertainment to professional endeavors, individuals are seeking to innovate and use technology and access to information as means of production. As in classical Marxist theory, individuals are exploring new forms of labor and ways of fitting into an economic system where production and redistribution of wealth means a new way of using technology as a power dynamic within society. The evolution of Web 4.0 and its approach to a more decentralized use of technology by individuals in society is a perfect example of how AI is enabling users to interact with the web in an engaging, real-time manner. In discussing the new organizational management paradigm based on data, information, and knowledge management, Şen, Yilmaz, & Mert, (2020) defend that:
Web 4.0 applications are capable of processing knowledge in the big metadata at any time and place with the help of various carriers (not only PC, mobile phone). WebOS, Intellectual Agents, and intellectual web enable a personalized interaction according to the needs and expectations of the individual. Web 4.0 applications facilitate both mentally and intellectually true symbiosis life experience at the center of the virtual and real-life collaboration. (p. 520)
Semantic Web 4.0 and 5G Technology networks apply integrated and complex AI services and an enhanced algorithm that drive the data and analytics defining and enhancing the customer experience and leading to innovations. The use of technologies in shared data naturally invites collaboration and communication, bridging gaps in knowledge production and co-creation that are the cornerstone of AI. Nikiforova, Alor, and Lytras. (2023) assert that: “The openness of data is considered one of the crucial drivers for the sustainable economy and the knowledge-based economy in particular” (p. 220).
AI has surpassed mere imitation; it has become a catalyst for innovation, efficiency, and strategic advantage. This chapter delves into the bedrock principles that underpin AI, exploring its origins, key concepts, and the myriad techniques that constitute its diverse landscape. From machine learning and neural networks to natural language processing and computer vision, the building blocks of AI are assembled to create intelligent systems that can analyze, learn, and adapt. The power of AI is not confined to its technical prowess alone; it resides in its symbiotic relationship with the ever-evolving technological landscape. The interconnected web of technologies, such as cloud computing, big data analytics, and the Internet of Things (IoT) intertwines with AI, amplifying its capabilities and expanding its potential applications. In this chapter, some of the intricate connections between AI and these complementary technologies are discussed, illustrating how their synergy shapes the future of business.