Role and Application of Artificial Intelligence in Business

Artificial intelligence (AI) refers to the simulation of human intelligence in machines. Artificial Intelligence technology has led to creation of AI tools that mimic human intelligence. These machines/AI tools have the capability of performing the tasks that depend upon and are associated with human cognitive skills, like, learning and logical reasoning. AI is impacting all spheres of our lives. It has reshaped the arena of business as well, and is being used by organizations for data analytics, automation, pattern recognition, decision making and content creation. Different areas of business, be it marketing, customer service, production or human resources, can use AI to improve operations and productivity. The present paper provides an overview of the role and application of AI in business organizations.