Word document attached as well with the same information.
PROMPT:
Background
For your final project, you are creating your own hypothetical scenario within the following parameters, and applying the concepts covered this term.
1. The INDUSTRY: First, select one of the following industries for this project and research the use of AI in this industry.
- Aerospace
2. The COMPANY: Now, for this project, create a hypothetical U.S. private for-profit civilian company of 200+ employees that is in business in the industry you have selected.The company is a C-corporation owned by multiple unrelated shareholders, Give your company a name. You might research current businesses in the industry for ideas, but the assignment is to create a hypothetical company. You are the VP of Innovation of this company.
Comapany Name: VorSpace Innovations
3. The AI: Next, imagine a new AI application that might help productivity, ensure the business’ continuity, streamline efficiency, and thus free up time in tasks that humans now perform in the company. This can be a potential AI app you completely dream up, or it can be a new one just being released on the market that you find in your research. Identify machine learning as the primary AI subfield for this new AI. There are potential new apps in a variety of areas to consider for any industry now or in the future. To help your ideas for creative research for this paper you could look at – for example –AI assistance in such areas as: AI-robotics, wearables, financial applications, cybersecurity, safety, product upgrades, customer support, medical diagnostics, supply chain, transportation.
4. **NOTE: You are looking at the company’s acquisition and use of a proposed new AI app that might support/enhance the company’s business in some way – NOT a new product for the company to develop, sell or manufacture. Here is an analogy – It’s like acquiring a new broom to sweep the company’s production floor, not a new broom to create, develop, market, and sell to customers for their floors. Your company is not creating or building the AI app. It is considering if should acquire and use it for its business.
INSTRUCTIONS:
Having imagined and created the hypothetical company in the selected industry and a new AI application, here is the Project Assignment:
1. You are the company’s Vice President of Innovation.
2. The CEO and Board have asked for your research and recommendation about the new AI app.
3. Prepare a paper that covers the points outlined below for the hypothetical you have created.
4. Write this paper in the third person – NOT using “I”, “we”, “us”, “you”, “your”.
5. Use the following outline for your content, which incorporates the Lesson material we have covered for the Course Objectives.
TIP: Embrace the hypothetical as if it were a real business and mentally immerse yourself as the VP advising the CEO and Board. Use the company name where appropriate. Use the AI app name where appropriate. In other words, make it real.
PAPER CONTENT OUTLINE:
Suggested title: Executive Report on the [Company Name’s] Use of [Name of AI Application]
Introduction
In this section you setting up your paper, introducing your topic. Describe the industry, the company, and the company’s particular business in the industry. Explain what the company does (example, services versus manufacture versus retail, etc., in the industry) will in turn drive the type of AI application it would be using. Summarize AI is transforming business and a new AI app — named xx – is being considered for the company. There are pros, cons, issues to consider in making the decision.
How AI is Transforming Business
In this section, explain summarize how AI has transformed business in general, and how it is transforming now and in the future, in particular, the company’s industry that you selected for your topic. Briefly summarize how this transformation is affecting the company’s need to advance.
Proposed New AI Application
In this section explain the company’s interest in a new AI application named -xx- and the potential benefit this AI might bring for the business. Describe the AI application of interest (as you have imagined it – as indicated in PROMPT/Background above).
NOTE: This does not require a detailed technical description of the AI. What is the main AI subfield involved and what will be the AI’s function for the company? For example: “[Name of the AI app] will use natural language processing to _________________” OR “The company is considering a new AI wearable device called _____________in which machine learning ….[description of app function].” Then describe what it does. In these examples, it is not necessary to explain how NLP or ML itself works, only correctly align the subfield with the proposed AI app for the company.
What is AI? Explain the function and benefit of this AI app for the company’s operations is the focus of your description. In short, what is the AI and what does it do?
Pros, Cons, and Benefits of AI (General Points & Principles)
In this section, first describe the general issues – pros and cons – of AI in business, including the benefits of AI. What are the benefits? Issues & “cons” should include: legal/ethical issues, change issues (e.g. work force disruption), concerns such as bias and corruption.
Evaluation of AI for a Specific Industry/Business
Summarize now the pros, cons, benefits for (1) the specific industry and company of your hypothetical, and (2) how they apply to the proposed new AI app the company is considering. What is the CEO/Board going to want to know? What is the benefit of this AI for this company? What are the detractors? What are the benefits? The issues of concern (e.g. disruption? legal? ethical? etc.) Explain the considerations and steps your company should cover in evaluating whether to implement the proposed new AI application.
(Utilize the links below for research.)
https://nexusintegra.io/artificial-intelligence-in-business/
https://www.upwork.com/resources/integrate-ai-in-business
https://itrexgroup.com/blog/how-to-implement-ai-in-business/
https://alwaysai.co/blog/7-questions-before-adopting-ai-solutions
The economic potential of generative AI: The next productivity frontier
https://www.thoughtspot.com/data-trends/ai/best-ai-tools-for-business
Recommendation for [Company Name]’s Implementing [Name of the AI Application]
In this section: Assuming the business decides to use the AI application, recommend and explain at least three steps the company should employ in its implementation. (Refer to links above for research.) These are 3 main general steps that are important to cover.
Conclusion
Wrapping up: Summarize the benefits and considerations of the business using this AI application and recommendation.
References
All references listed on this References page must also be used as in-text citations in the paper, correctly supporting the narrative.