Business World Trends with Business Digitalization and Artificial Intelligence

Posted by – The business world has a very dynamic nature. Therefore, it is necessary to adapt to every change that occurs to achieve success in a business. In the modern era like today, digitalization is one of the changes that must be implemented so that the business being run will not be left behind by competitors.

Apart from that, business digitalization is currently closely related to the use of Artificial Intelligence (AI), which is predicted to be able to provide many new advantages. AI’s ability to process big data quickly and accurately is one of the advantages that can change the way businesses work in various industrial sectors.

In connection with this, Agustiar Zanzawi, S.E., M.M. who is a digitalpreneur, was appointed as one of the speakers in the Notion Career Series event organized by the English Literature Study Program (Prodi), Faculty of Letters, Culture and Communication (FSBK), Ahmad Dahlan University (UAD)¬†on Tuesday, June 6 2023. The theme “Entrepreneurship and Tourism Career Development Seminar”, Agustiar delivered material related to the importance of being digitally aware by utilizing digitalization and AI to earn additional income.

Lack of Business Digitalization in Indonesia

The use of digital media has now become a demand for the business world. Ease of internet access means that digitalization can be accessed very quickly by consumers. However, not all business people understand what digitalization is and how to do it.

Based on data from the Indonesian E-commerce Association (idEA) as of May 2021, there are around 13.7 million actors or 21% of micro, small and medium enterprises (MSMEs) who have tried to blend into the digital ecosystem. This means that more than 70% are still loyal to using conventional methods in running their business.

The reason is, most MSME businesses are currently run by one person who is usually older. These business people tend to be skeptical of the presence of technology so they are quite slow in adopting the presence of digital services. Some businesses are able to adapt, but not infrequently they end up going out of business. Therefore, business people need to continuously study awareness of business digitalization in order to create effective methods for retaining customers.

Benefits of Digitalization for Businesspeople

The digitalization trend in business continues to develop, especially after the Covid-19 pandemic. Many business people, both MSMEs and large companies, are starting to carry out digital transformation of their respective businesses in order to maintain and improve services to consumers. This cannot be separated from the various benefits that can be obtained from business digitalization.

First, the transaction process becomes easier and more efficient. Ease of transactions is one of the selling points of business digitalization. Digitalization allows business people to complete transactions with consumers without having to meet them directly. Furthermore, digital transactions can make every service in the business faster because every transaction will be processed more quickly.

Second, the market is wider. Digitalization is a path to achieving greater business success. This cannot be separated from the opportunity for business people to reach a wider market. The interactions that occur in the online space provide opportunities for business people to interact with consumers from various places, even thousands of kilometers away.

Third, work becomes more systematic. The implementation of digitalization plays an equally important role in completing various jobs at one time more concisely and quickly. This is closely related to forms of data searching, archiving and storage.

Artificial Intelligence vs Conventional Methods

Artificial intelligence (AI) now has a very important role in the business world. Many companies are currently investing more in AI technology to optimize company performance. Therefore, the use of AI technology has many advantages compared to conventional methods in various aspects.

First, efficiency and speed. AI can perform tasks simultaneously and at a much higher speed than humans, saving companies time and operational costs. The existence of AI can help companies automate repetitive tasks, such as data entry, information processing and transaction processing, which can increase efficiency and reduce errors made by humans.

Second, accuracy and consistency. AI, which is referred to as a machine, is basically not affected by emotions or fatigue so it can produce more accurate and consistent output in processing large and complex data.

Third, more rational decision making. AI is programmed to be able to process large amounts of data and produce better thinking in making business decisions such as sales, inventory and business strategy. This can then help business people make smarter and more effective decisions for the company’s progress.

Lastly, there is the ability to personalize. AI’s ability to process complex data will provide various solutions for every problem faced by consumers so that a company can provide the right service tailored to consumer preferences.

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