A Comparison of the Effects of Robotics and Artificial Intelligence on Business Management and Economics

Abstract

The firm must adapt to incorporating new and innovative technology in the current digital world to increase production and output. A better administration of many business processes, including finance, advertising, supply chain management, human resource management, and economic elements like cost, realising higher income, GDP, etc., is made possible by the application of AI. Nearly 91 replies were obtained, and these data were examined utilising percentage rate calculations by the investigator using both primary and secondary data. The secondary data is obtained from a variety of online libraries, including EBSCO and others, in order to comprehend earlier research done in the subject. On the other hand, the implementation of robotics into business organisations and robotics has been transforming the world. Robotics plays a crucial role in business management as well as economics by reshaping and revolutionising current business practices. This research study will also explore the effects of robotics by focusing on the challenges and opportunities associated with the implementation process in various sectors. Regarding gathering information about the implementation of robotics and artificial intelligence, researchers have followed a secondary qualitative research approach. This research method has been chosen as it can provide significant information from broad perspectives. Based on the data collection, this research has compared the significant effects of ‘Robotics and Artificial intelligence’ in business management and economics.