Benefits and Risks of Introducing Artificial Intelligence Into Trade and Commerce: The Case of Manufacturing Companies in West Africa
With innovations in technology, the application of artificial intelligence (A.I) in the area of commerce is rising to the top with an expected growing number of business transactions not just for entrepreneurs but for consumers as well. It advances the understanding of how A.I. can be used to enh...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Editura ASE
2021-02-01
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| Series: | Amfiteatru Economic |
| Subjects: | |
| Online Access: | https://www.amfiteatrueconomic.ro/temp/Article_2985.pdf |
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| Summary: | With innovations in technology, the application of artificial intelligence (A.I) in the area of
commerce is rising to the top with an expected growing number of business transactions not
just for entrepreneurs but for consumers as well. It advances the understanding of how A.I.
can be used to enhance businesses around the world by establishing their presence online to
reach customers beyond borders. This study highlights the benefits and risks of introducing
A.I. into trade in terms of how the commerce industry operates and revolutionize products
shopping. Significantly, the primary aim of this paper is to explore ways A.I. is integrated
into commerce to help understand its impact on existing/potential customers and its
efficiency in sales processes. With a sample size of 2,903 manufacturing companies in four
West-African countries, the empirical results show that value-based adoption of A.I.
approach outperforms the traditional/human search of customers’ products delivery in both
convenience, accuracy and profitability. Furthermore, A.I. approach within commerce
achieved competitive advantage with several modernized customer service machine
learning approach such as automated content creation, voice assistance, image search
among others. Clearly, this shows that the application of A.I system into commerce
introduces significant competitive advantages in terms of trust, quality, openness and
security |
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| ISSN: | 1582-9146 2247-9104 |