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A Comprehensive Study on How Contemporary Businesses Acquire Tactical Advantages Over Competitors Through the Strategic Adoption of Emerging Technologies

Tejas Thakral

Vivekananda Institute of Professional Studies, Delhi

40-46

Vol: 14, Issue: 3, 2024

Receiving Date: 2024-05-11 Acceptance Date:

2024-08-14

Publication Date:

2024-08-30

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http://doi.org/10.37648/ijrst.v14i03.006

Abstract

Artificial Intelligence (AI) has greatly transformed business processes, providing industry-specific transformative gains in terms of efficiency, productivity, and innovation. This paper is a more comprehensive discussion about the role that AI plays across business domains-from marketing to finance, supply chain management, to customer service domains. Key technologies like machine learning, natural language processing, and robotics are addressed together with the practical applications involved. The study goes further into the integration of AI with newer trends such as IoT and blockchain, showing how those integrations yield new business opportunities. Next to implementation, scalability, and workforce adaptation challenges are ethical issues, including AI algorithm bias and data privacy, subjected to careful analysis.

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