Book Title: Contemporary Research Across Disciplines
Editors: Dr. R. Saravana Selvakumar and Mr. R. Venkatesan
ISBN: 978-81-978738-1-2
Chapter: 6
DOI: https://doi.org/10.59646/crc6/278
Author: Dr. C. Muthulakshmi, Assistant Professor and Head, Department of B.Com. Business Analytics, G. Venkataswamy Naidu College (Autonomous), Kovilpatti, Tamil Nadu, India.
Abstract
Artificial Intelligence (AI) is revolutionising commerce, transforming business operations and customer interactions. This article explores critical AI concepts, focusing on Narrow AI designed for specific tasks and the potential of General AI, which aims to mimic human cognitive abilities. It highlights essential AI techniques such as Machine Learning, Deep Learning, Natural Language Processing, and Computer Vision and examines their applications in healthcare, finance, and education. AI enhances data analysis, customer experiences, supply chain management, and marketing strategies in commerce. It also improves decision-making and personnel management. The article discusses AI’s opportunities and ethical challenges, emphasising responsible AI practices. Looking forward, the future of AI in commerce is expected to feature hyper-personalization, conversational commerce, and the integration of technologies like blockchain and augmented reality. Ultimately, AI’s impact on commerce promises significant advancements, but ethical considerations, privacy concerns, and regulatory frameworks must be balanced to ensure a sustainable and inclusive future for businesses and consumers.
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