EFFECTIVENESS OF ARTIFICIAL INTELLIGENCE AND BUSINESS IN OMAN

Table of Contents

Chapter 1: Introduction 4

1.1 Current scenario of the topic subject 4

1.2 Theories related to the subject 4

1.3 Various developments of the subject 4

1.4 Importance and purpose of the study 5

1.5 Rationale of the study 5

1.6Aims of the study 5

1.7 Scope of the research 5

1.8 Research Questions 6

1.9 Research Objectives 6

1.10 Limitations Of the research 6

1.11Chapter Schemes 7

Chapter 2: Literature review 7

2.1 Introduction 7

2.2 Meaning of the subject 7

2.3 Definition of the subject 8

2.4 Literature Review 8

Chapter 3: Methodology 11

3.1 Introduction 11

3.2 Research Design 12

3.3 Sampling Methods 12

3.4 Data collection Methods 12

3.5 Data analysis 12

3.6 Data presentations 13

3.7 Scope of further study 13

3.8 Limitation 13

Chapter 4: Data analysis 13

Chapter 5: Findings and Recommendations 24

5.1 Main findings 24

5.2 Research results 24

5.3 Recommendation 24

5. 4Conclusion 24

References 25

Chapter 1: Introduction

1.1 Current scenario of the topic subject

Artificial Intelligence is considered as the simulation of human intelligence in machines. The study has been focused on the business of Oman and the association of artificial intelligence enhances the ability to rationalize. Hereby, it takes the adequate actions that have the effective chances of achieving the specific goal of the business. Nowadays the association of artificial intelligence has influenced the value of the business.

1.2 Theories related to the subject

Artificial Intelligence theory

Artificial Intelligence theory is the significant field that has made the sophisticated contribution in business. It influences intelligence by the utilization of the machines and helps to influence the decision-making process in the business field. Colloquially, Artificial intelligence has enhanced the use of the machines that mimic the cognitive functions and hence the human associates it with the human mind (Moravčík et al. 2017).

Information theory

It has been considered as the significant theory that contributes toward the effective learning of Artificial Intelligence. Information theory has been observed as the sophisticated amalgamation of the major building of deep learning. Hence it develops the learning on probability, calculus, statistics. Moreover, the major concept in the context of Artificial Intelligence comes from Information theory. The major concepts are related with building the decision trees regarding the maximum information gaining (Cath et al. 2018).

1.3 Various developments of the subject

Artificial Intelligence has been one of the major controversial domains and influences the uses of computer science. Since, the inclusion of artificial intelligence in the business field has developed the use of the machinery capability to perform in the various tasks. The use of artificial intelligence influences the power of the computer system in terms of the diverse working domain. There are various developments in business for the association of artificial intelligence. I create an expert system that exhibits intelligent behavior. It also assists to implement human intelligence in the machines.

1.4 Importance and purpose of the study

The importance of research has been linked with the evolution of artificial intelligence in the business of Oman. This specific research has been focused on the various developments of Artificial Intelligence and hence it influences the major concepts to enhance the business of Oman. Artificial intelligence is considered to be important in the business as it influences nearly every facet of the business and brings improvement in the augment and efficiency of human capabilities.

1.5 Rationale of the study

In recent days the data and the business are increasing and hence it requires a huge transformation in the business in Oman. It requires the effective association of artificial intelligence because of the complexity of developing technology in modern business. Artificial Intelligence is the sophisticated technology that fundamentally transforms the effective business process. Moreover, the embracement of AI is replacing humans from the beginning to the end of the supply chain process in the enterprises of Oman. It has been observed that the business sectors of Oman has witnessed the online business as well as the importance of AI during the pandemic of Covid-19.

1.6Aims of the study

The specific study aimed to display the effectiveness of artificial intelligence in the business of Oman. Hence it also effectively focused on the role of Artificial Intelligence in enhancing the business process by the machines and apparently it has been signified as similar to humans. Also defining information theory has influenced the value of the research study as it is observed to have created sophisticated intervention in artificial intelligence. Moreover, the study also aimed to prove that use of artificial intelligence lowered the error rate in the business compared to humans.

1.7 Scope of the research

The specific research has been concerned on the various effectiveness of Artificial Intelligence as it can improve the business system in the context of Oman. Furthermore, the research has been focused on the positive and negative aspects of Artificial Intelligence. Adaptability of Artificial Intelligence has been observed to be increasing in the different businesses in Oman and thus the research has been concerned on that. Apparently Artificial Intelligence seems to be affecting the distribution process and it has been influenced in the specific research study.

1.8 Research Questions

RQ1 Does artificial intelligence benefit humans?

RQ2 What are the implications of artificial intelligence on economic growth?

RQ3 What is the role of artificial intelligence in redefining the future?

RQ4 Why do the world think that artificial intelligence could replace human jobs?

1.9 Research Hypothesis

H0: There is no effective impact or role of artificial intelligence in the Omani business

H1: There is an effective impact or role of artificial intelligence in the Omani business

1.10 Research Objectives

  • To improve the business technology and system in Oman

The Information technology Authority (ITA) is found out to increase the importance of AI considering the future of the concerned nation and currently working on it so that all the public and private organizations can adapt it to improve the business structure.

  • To minimize labors cost

Through AI, it is identified that the brilliant system in business can be established that has the capability to replace the human requirement as well as point of view of employees by outlining the exact logical solution that requires in the business considering the industry explicit necessities.

  • To increase productivity and efficiency in Oman’s enterprises

Based on the study and research, it is identified that the concerned advanced automation technology has the ability to enhance the performance as well as productivity of the company by 40% and even more.

1.11 Limitations Of the research

The study has been focused on the effective role of artificial Intelligence in Omani business. It has been considered as the enhanced technology that lowers the error rate in the business in comparison to humans. The research has been conducted to evaluate the business sectors utilizing Artificial intelligence. In this regard, the discussion of the concerned research has around the effectivity of AI in business and its impact on business, however, the implementation and practical factors aspects are not mentioned here. In order to discuss the AI in Omani business, the implementation along with practical setup would require, however, the concerned research is limited only to the effectiveness of AI.

1.11Chapter Schemes

Figure 1: Chapter Schemes

(Source: Self-Created)

Chapter 2: Literature review

2.1 Introduction

In this segment, several articles and journals are chosen to be analyzed and evaluated. This process is carried out to ensure that a clear assessment of the topic of discussion can be established. Through the process of thoroughly assessing the various aspects of the topic of discussion by analyzing the relevant literature, it is possible to develop a bank of knowledge that is reliable and unbiased. This process can be quite beneficial in terms of carrying out the research project with as much authenticity and detail as possible.

2.2 Meaning of the subject

The subject that has been chosen for this particular project is artificial intelligence and business in Oman. The meaning of the subject involves an understanding of artificial intelligence and its impact on the business operations in Oman. Artificial intelligence has become one of the most important aspects of life in general in recent times and naturally this phenomenon has expanded to business operations as well. This process has been quite significant in terms of changing the way business is conducted. However, this process has both negative and positive impacts on business operations in Oman.

2.3 Definition of the subject

Artificial intelligence in business can be defined as the process of carrying out tasks through the use of machine learning that cannot be carried out by human intelligence. This process has been quite beneficial for business operations for many organizations. The implementation of machine learning or Artificial intelligence has helped to enhance the business operations in terms of decision making. Artificial intelligence or machine learning is quite significant for businesses with respect to the process of carrying out various tasks that require collection and analysis of data. This process can be carried out by human intelligence, however, the risk is too high in that case, whereas, the implementation of artificial intelligence or machine learning can help the organizations to reduce the risks significantly with respect to the data collection and analysis process.

2.4 Literature Review

Types of Artificial intelligence used in business

There are various types of artificial intelligence that are used in business operations. According to the article by Rao, (2017), to determine the specific strategies for conducting business operations, it is imperative to use artificial intelligence with respect to data collection and analysis process and the various types of artificial intelligence that can be used to achieve the same include Analytic AI, Functional AI, Interactive AI, Tet AI and Visual AI. All of these types of AI can be implemented to carry out the business operations in a more efficient and effective way in terms of developing effective strategies (Rao, 2017).

The various types of artificial intelligence help the businesses in various ways. According to a journal authored by Davenport, (2018), for different functions of the business with respect to data collection and analysis, different types of artificial intelligence can be used. The implementation of AI or machine learning in different ways can help the businesses to achieve the goals of carrying out the business operations with as much preparation as possible in terms of dealing with the risks for carrying out the business operations. This process has been significantly beneficial for the businesses in terms of decision making while reducing the risks (Davenport, 2018).

The implications of artificial intelligence on economic growth

Artificial intelligence can have certain implications on economic growth when they are applied within the structure of business operations. According to the article by Aghion et al. (2017), it can be ascertained that the implementation of artificial intelligence in business operations has significantly increased economic growth. Due to the fact that business operations have enhanced in terms of performance through the implementation of artificial intelligence, the economic growth has also increased along with it. This process has been quite beneficial for various organizations because of the seamless and effortless enhancement of business operations that the implementation of artificial intelligence of machine learning offers (Aghion et al. 2017).

Economic growth is reliant on the conduction of business operations quite directly and the implementation of artificial intelligence can enhance the business operations in a way that can have a positive impact on economic growth. According to a journal authored by Agarwal et al. (2018), the enhancement of economic growth is impacted quite significantly by the standards of performance within any business operation and the incorporation of artificial intelligence in many forms within many functions of business operations have helped various organizations enhance the performance of the organizations leading to an increase in economic growth (Agrawal et al. 2018).

The role of artificial intelligence in redefining the future

Artificial intelligence has become a cornerstone of data collection and analysis in recent times. This phenomenon is gradually changing the way business is conducted and the future of business operations can be redefined by implementing artificial intelligence. According to an article by Jain, (2017), the implementation of artificial intelligence is changing the way business is conducted all over the planet. The various aspects of business conduction relies on the process of data collection and analysis. Through the process of implementing artificial intelligence within the business operations, the process of data collection and analysis has become more authentic and effective. This process is changing the way business is conducted and for the next generation of businesses, artificial intelligence in the form of machine learning can become standard practice (Jain, 2017).

The incorporation of artificial intelligence in various functions within the business operations will eventually become integral to the process of conducting business. According to the journal authored by Bang et al. (2020), it can be ascertained that the process of carrying out business operations will be redefined completely by the implementation of artificial intelligence. Due to the fact that various aspects of carrying out business operations are already being controlled by artificial intelligence with positive results, it can be ascertained that the future of business conduction will rely heavily on artificial intelligence (Bang et al. 2020).

Probability of artificial intelligence replacing human jobs

In recent times, the use of artificial intelligence has become standard practice for most business operations which has caused various human jobs to become obsolete, especially in the field of data collection and analysis. According to the article by Jarrahi, (2018), however, the ideal situation is where humans and artificial intelligence can work together towards a common goal. The implementation of artificial intelligence has made several human jobs irrelevant but as the process of conduction of business operations is changing, it is important for individuals to upgrade their skills which can help them work side by side with artificial intelligence. Instead of viewing artificial intelligence as something to fear, through the process of upgrading the appropriate skills, it is possible to use artificial intelligence as a tool to amplify the scopes of human jobs that already exist (Jarrahi, 2018).

The use of artificial intelligence has become quite prevalent in the recent past and that has slowly started to change the industry standards for most business operations. According to an article authored by Huang and Rust, (2018), the implementation of artificial intelligence or machine learning has become standard practice for most industries and it is important for the individuals to educate themselves to enhance their performance through the use of artificial intelligence. This process can be difficult to carry out, however, provided the current circumstances and anticipating the future circumstances based on the same, it can be surely said that the failure to adapt to the use of artificial intelligence can result in the loss of employment for many individuals (Huang and Rust, 2018).

Adaptability of Artificial intelligence in different businesses in Oman

Various businesses in Oman are adapting the artificial intelligence technology to enhance their performance. According to the article by Alhshmi et al. (2019), the businesses in Oman are adapting artificial intelligence in the form of machine learning to ensure that the data collection and analysis process can be carried out in the most efficient, effective and authentic way possible. This process can be quite beneficial for the businesses due to the fact that it has become standard practice to incorporate artificial intelligence within business operations all over the world and by adapting the same model, businesses in Oman can achieve their organizational goals with the same efficiency as the global standards (Alhashmi, 2019).

Influence of Artificial intelligence on the production and manufacturing process

Artificial intelligence has a direct influence on the production and manufacturing process. According to the article authored by Schuh et al. (2019), it can be ascertained that the various aspects of production are reliant on data. To be more precise, market data. The implementation of artificial intelligence in the form of machine learning has led to the process of carrying out the production and manufacturing process with much more efficiency (Schuh et al. 2019).

Artificial intelligence affecting the distribution process

The process of implementing artificial intelligence can affect the distribution process within a business operation as well. According to the journal by Santos et al. (2017), the distribution process is heavily affected by the implementation of artificial intelligence due to the fact that the process has made it quite easy to reach the customers in recent times and more importantly, the collection and analysis of market data has become even more efficient through the use of artificial intelligence, the distribution process has become more efficient and effective (Santos et al. 2017).

Effectiveness of Artificial intelligence upon businesses of Oman

The implementation of artificial intelligence has affected businesses in Oman in a mostly positive way. According to the article by Ali et al. (2018), the implementation of artificial intelligence has helped various organizations to enhance the performance of the business operations in recent times and although this process has made certain jobs obsolete, from a broader perspective the market standards in Oman have never been better (Ali et al. 2018).

Chapter 3: Methodology

3.1 Introduction

In this segment, the various aspects of artificial intelligence in business are elaborated upon. Through the process of carrying out an assessment of each aspect of the topic of discussion through specific research design, sampling method, data collection methods, data analysis, data presentation, the scope of further study and the limitations of the project, it is possible to establish a clear idea of how the research is conducted and the justification for the same can also be established.

3.2 Research Design

For this particular project, both the qualitative and quantitative methodologies have been used. This process has been quite beneficial in terms of developing an authentic and detailed assessment of the subject topic (Fletcher, 2017). A mixed approach to the research process is chosen to ensure that the research can be carried out based on facts and not theories to establish an unbiased and clear understanding of the subject topic which in this case is the implementation of artificial intelligence in business in Oman.

3.3 Sampling Methods

The sampling methods that have been used for this particular project involve the sampling frame including the managers, officers, customers, IT staff etc. and the sample size includes 40 people in total. To be more precise, the sample frame consisted of HR managers from different companies and entrepreneurs and 2 IT managers from different Omani companies were interviewed as well. The sampling process was carried out over 2 to 3.5 months approximately to ensure that the subject topic can be analyzed and evaluated in an appropriate way with as much authenticity and detail as possible.

3.4 Data collection Methods

To establish a reliable bank of data, the data was collected through surveys and interviews with different companies. The quantitative data is collected in this method and the qualitative data is collected through the analysis of relevant literature (Mohajan, 2018). The use of a mixed data collection method has led to an authentic and detailed bank of information that can be used to form a clear and unbiased idea of the use of artificial intelligence in businesses in Oman.

3.5 Data analysis

The data that was collected was analyzed through the implementation of different techniques. The use of pie charts and tables has been carried out to ensure that the data that is collected is analyzed in the most accurate way possible. This process has not been very easy, however, the result of the use of these techniques are quite positive. The implementation of pie charts and tables has helped the researcher to establish an accurate and authentic assessment of the subject topic in the most efficient and effective way possible.

3.6 Data presentations

The process of presenting the data has been carried out with the ethical considerations in mind. This process was quite necessary for the researcher due to the fact that the information that was being collected and analyzed was sensitive and was not to be used for any other purpose apart from academics. These ethical guidelines were maintained throughout the course of the research project to ensure that the project can be carried out in the most ethically sound way possible.

3.7 Scope of further study

The project was carried out in the most efficient and effective way possible and the various aspects of conducting the project through the use of authentic and accurate data has led to a large scope of further study. The researchers who will conduct their research on the same topic of discussion in the future can use the data that was collected and analyzed in the project to ensure that their research work is authentic and accurate as well.

3.8 Limitation

There are a few limitations of this research project. However, the most prominent limitation that the research has been carried out with is the location of the research. This particular project is limited to Oman and the data that was collected and analyzed has reflected the same. This process has led to a limitation for the future research on the same topic. By restricting the project to Oman, the researcher has not been able to form an understanding of the topic from a global perspective, however, the researcher has been able to establish a clear understanding of how Omani organizations have implemented artificial intelligence and the impact of the same on business in Oman.

Chapter 4: Data analysis

Survey Questions

Q1 Do you think the utilization of Artificial Intelligence can bring improvement in the business of Oman?

Options Response Frequency Total Respondents Percentage of Response
Yes 20 40 50%
No 15 40 37%
Cannot say 5 40 13%

Table 1: Artificial intelligence in improving the Omani business

Figure 2: Artificial intelligence in improving the Omani business

(Source: Self-Created)

Analysis:

The above figure displayed that 50% of the total respondents think that artificial Intelligence can improve the Omani business. The inclusion of Artificial Intelligence can lower the error rate in comparison to humans. 37% of the respondents have not thought that artificial intelligence can bring improvement in the Omani business. Rather than that 13%of the respondents have not responded to the questions. It means that maximum respondents agreed that artificial intelligence can improve the business in Oman.

Q2 Do you believe that inclusion of Artificial intelligence helps the Omani enterprises to be technologically advanced?

Options Response Frequency Total Respondents Percentage of Responses
Strongly Agree 15 40 37%
Agree 10 40 25%
Neutral 2 40 5%
Disagree 3 40 8%
Strongly Disagree 10 40 25%

Table 2: Artificial intelligence to enhance technological value of Omani business

Figure 3: Artificial intelligence to enhance technological value of Omani business

(Source: Self-Created)

Analysis

The above figure represents that 37% of the respondents have agreed that artificial intelligence leads the business to be technologically advanced. It also lowers the labor costs and influences the economic value of the Omani enterprise. Rather than that 25% of the total respondents have strongly disagree that artificial intelligence can lead the Omani business to be technologically advanced. Rest 25% of the respondents agreed, 8% of the respondents have disagreed and 5% of the respondents have disagreed with the specific opinion.

Q3: How far do you agree that association of artificial intelligence can minimize the labour costs?

Options Response Frequency Total Respondents Percentage of Responses
Strongly Agree 10 40 25%
Agree 12 40 30%
Neutral 5 40 12%
Disagree 10 40 25%
Strongly Disagree 3 40 8%

Table 3: Artificial Intelligence minimizing the labour cost

(Source: Self-Created)

Figure 4: Artificial Intelligence minimizing the labor cost

(Source: Self-Created)

Analysis

25% of the respondents from total respondents have agreed that artificial intelligence can minimize the labor costs as it influence the machine application and hence it also develop the decision making process/ Hence it can influence the productivity of the organization in the context of Oman. 25% of the respondents have disagreed regarding the fact and 12% respondents played the neutral role and they have not been answered. 8% of the respondents have strongly disagreed regarding the fact. Although the figures have been represented that maximum population have agreed that artificial intelligence can reduce the labor costs as it lower the labor implication.

Q4 Do you think that artificial intelligence has been easily adapted by different businesses in Oman?