Technology AI Blog - Emily Nelson

 Emily Nelson

04/11/24

A very interesting area of technology that would be highly relevant for review concerning issues of business management would be the increasing role of artificial intelligence (AI) in organizational decision-making. AI algorithms today are widely used in processing big volumes of data when making predictions or giving recommendations. This serves strategic planning, distribution of resources, or estimation of risks by managers. Understanding exactly how AI works and what it entails as far as changing the way decisions are made in an organization is an important aspect of studying business management as a major. Leaders should therefore understand the organizational, workforce, and ethical dimensions of AI, besides its technical underpinnings.



Perhaps most importantly, blockchain technology has massively disrupted traditional business models in fields such as finance, management of supply chains, and cybersecurity. The Business Management majors need to be acquainted with the fact that blockchain networks are decentralized and increase transparency, security, and effectiveness in several processes. In addition, they should look at the challenges and opportunities that come with integrating blockchain into the system and the impacts that may be brought about by the regulation requirements and standards of the industry.



Some other things to point out are the advances in remote work technologies, which are revolutionizing the definition of businesses and the nature and functioning of managing the workforce.

Video conferencing, project management software, and virtual collaboration tools are among the tools that facilitate the communication and coordination of activities among distributed teams. The students or learners of business management need to learn how the technologies can be used properly in overcoming geographical barriers and remaining tight as a team to increase productivity in the remote workplace. Finally, an emphasis on business sustainability has driven the rise of new technologies aimed at reducing environmental impact and promoting corporate responsibility. Renewable energy sources, from solar power to wind power, are part of the continued investment businesses make in so-called green technologies, in support of their own sustainability goals and pressure from consumers. This definitely goes without saying: business management majors need to follow such developments in business management, given that they harbor possibilities of competitive advantage, brand equity, or even contributing to meeting some of the most challenging global issues, like climate change.



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