In this chapter we introduce main topics covered in this book, its motivation, and briefly describe the research methodology. We present the scope of each of the proceeding chapters, and comment on the most important bibliographical sources. I forms the ground for the Chapter 1, focused on fundamental concepts of Artificial Intelligence.
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Monograph Chapter
In Artificial Intelligence in Management
Andrzej Wodecki
- Published:
- 6 November 2020
Collection:
Business 2020
Andrzej Wodecki
In Chapter 1, we present the essential concepts underlying intelligent, autonomous, and self-learning systems. We start by indicating the key features of such solutions, in particular the essence of intelligence, and the most important machine learning models. In the next step, we focus on reinforcement learning (RL) as the basis for many of the autonomous systems discussed later. We present the key RL concepts, the idea of learning by interaction, and the most important algorithms. Finally, we analyze the role of autonomous systems in the modern world, which is an introduction to the topic of their applications presented in the following chapters.
Monograph Chapter
In Artificial Intelligence in Management
Andrzej Wodecki
- Published:
- 6 November 2020
Collection:
Business 2020
Andrzej Wodecki
In this part of the book, we present applications of intelligent, autonomous solutions in key functional areas of the organization and selected industries. Based on nearly 200 analyzed case studies, we start with a description of the technologies underlying modern intelligent systems, in particular, those enabling perception and situational awareness, communication, and security. Then we show what value such systems can generate in asset management, production, logistics, marketing, and sales or IT systems management. Finally, we analyze the possible impact of Ai on various industries: from manufacturing and construction, through transport, agriculture, energy sector to finance and health care. Hundreds of cases presented in here form the basis for the next chapter, where we propose business cases and strategies for implementing such solutions in modern organizations.
Monograph Chapter
In Artificial Intelligence in Management
Andrzej Wodecki
- Published:
- 6 November 2020
Collection:
Business 2020
Andrzej Wodecki
Chapter 3, based on the case studies presented earlier, presents best practices of autonomous systems implementations, classifies the values they can provide, and proposes a universal model for designing business cases for artificial intelligence in modern organizations. In the first section, we show the practical aspects of Ai deployments, from initiation, implementation to fixation of change. In the next step, we summarize the values generated by Ai by dividing them into revenue-generating, cost-reducing, and risk-minimizing. Finally, we present the AIR Management model based on the analogy to human resources management systems, which can be a useful metaphor for designing and implementing Ai in organizations.
Monograph Chapter
In Artificial Intelligence in Management
Andrzej Wodecki
- Published:
- 6 November 2020
Collection:
Business 2020
Andrzej Wodecki
Chapter 4 is devoted to trends in the development of intelligent technologies relevant to modern management. We begin with the analysis of the possible impact of Ai on organizations, markets, and people, describing structures such as decentralized Ai or cognitive networks. Next, we discuss new, desirable competences and the impact of intelligent machines on the position of humans in an organization. We conclude with the horizons of contemporary fundamental and applied research and its possible effect on management science and society.
Monograph Chapter
In Artificial Intelligence in Management
Andrzej Wodecki
- Published:
- 6 November 2020
Collection:
Business 2020
Andrzej Wodecki
We conclude the book with a short reflection on a potential place of advanced, autonomous technologies in human life and work in not that far future.
Monograph Chapter
In Artificial Intelligence in Management
Andrzej Wodecki
- Published:
- 6 November 2020
Collection:
Business 2020
Monograph Chapter
In Artificial Intelligence in Management
Andrzej Wodecki
- Published:
- 6 November 2020
Collection:
Business 2020
Artificial Intelligence in Management
Self-learning and Autonomous Systems as Key Drivers of Value Creation
Andrzej Wodecki
Autonomous systems are on the frontiers of Artificial Intelligence (AI) research, and they are slowly finding their business applications. Driven mostly by Reinforcement Learning (RL) methods (one of the most difficult, but also the most promising modern AI algorithms), autonomous systems help create self-learning and self-optimising systems, ranging from simple game-playing agents to robots able to efficiently act in completely new environments. Based on in-depth study of more than 100 projects, Andrzej Wodecki explores RL as a key component of modern digital technologies, its real-life applications to activities in a value chain and the ways in which it impacts different industries.