A PROJECT REPORT

ON
STUDY OF AN ENTREPRENEUR TO UNDERSTAND THE PROCESS OF
CREATING AN ENTREPRENEURIAL VENTURE.
SUBMITTED TO
AMITY UNIVERSITY KOLKATA

MASTER OF BUSINESS ADMINISTRATION

OF
AMITY BUSINESS SCHOOL

BY
TAMANNA YASMIN ROHMAN
(A91801923068)
 TABLE OF CONTENT

INTRODUCTION……………………………………………………………. 3

HISTORY……………………………………………………………………….. 6

SWOT ANALYSIS……………………………………………………………. 8

CONCLUSION……………………………………………………………….. 11

SUGGESTIONS……………………………………………………………… 11

REFERENCE………………………………………………………………….. 12
 INTRODUCTION

Artificial Intelligence (AI) has revolutionized the

landscape of business management in recent
years, reshaping the way organizations operate,
make decisions, and interact with their customers
and employees. As a powerful tool, AI brings data-
driven insights, automation, and predictive
capabilities to the forefront of business strategy,
enabling companies to enhance efficiency,
optimize processes, and gain a competitive edge
in an increasingly complex and dynamic
marketplace. This introduction explores the
transformative impact of AI on business
management, delving into its applications,
benefits, and the challenges it presents to
organizations striving to harness its potential.
 HISTORY
Artificial Intelligence (AI) is a multidisciplinary field
that has evolved over several decades, with a rich
history spanning from its inception in the mid-
20th century to its widespread applications today.
In 500 words, I'll provide an overview of key
milestones and developments in AI history.

The Birth of AI (1950s-1960s):

AI's roots can be traced back to the 1950s when
computer scientists and mathematicians began
exploring the concept of machines that could
mimic human intelligence. Alan Turing's work on
the Turing Test in 1950 laid the foundation for the
field. In 1956, the Dartmouth Workshop marked
the birth of AI as a distinct discipline, led by
pioneers like John McCarthy and Marvin Minsky.

Early AI Challenges (1960s-1970s):

The early years of AI were marked by optimism
and the belief that human-level AI could be
achieved relatively quickly. Early AI systems, like
the Logic Theorist and General Problem Solver,
showed promise but were limited in their
capabilities. Funding dwindled due to unmet
expectations, leading to the "AI winter."

Expert Systems and Knowledge-Based AI (1980s-

1990s):
In the 1980s, AI researchers turned to expert
systems, which used predefined rules and
knowledge to solve specific problems. These
systems found applications in fields like medicine
and finance. However, they were limited by the
difficulty of encoding human expertise
comprehensively.

Machine Learning Renaissance (1990s-2000s):

The 1990s saw a resurgence in AI research, driven
by advancements in machine learning. Neural
networks and statistical methods gained
popularity, leading to practical applications in
speech recognition, natural language processing,
and computer vision. IBM's Deep Blue defeating
Garry Kasparov in chess in 1997 was a landmark
achievement.

The Rise of Big Data and Deep Learning (2010s):

AI progressed rapidly in the 2010s, largely due to
the availability of vast datasets and improvements
in computing power. Deep learning, a subfield of
machine learning, gained prominence, leading to
breakthroughs in image and speech recognition.
Technologies like Siri and self-driving cars
showcased AI's practical applications.

AI in Everyday Life (2020s):

As of my last knowledge update in 2022, AI
continued to permeate everyday life. Virtual
assistants like Amazon's Alexa and Google
Assistant became household staples. AI-powered
recommendation systems influenced what we
watch, buy, and read. Autonomous vehicles
continued to advance, and AI found applications
in healthcare, predicting diseases, and drug
discovery.
Challenges and Ethical Concerns:
The rise of AI brought with it concerns about
ethics, privacy, and bias. Issues related to data
security, job displacement, and the potential
misuse of AI raised important questions about AI's
societal impact.

Future of AI:
Looking ahead, the future of AI is promising. AI
will likely continue to improve in various domains,
from healthcare to education, while addressing
ethical concerns and ensuring responsible
development. Quantum computing and AI
synergy, as well as advances in robotics and AI's
role in addressing global challenges, are areas to
watch.
 SWOT ANALYSIS
Strengths:

1.Efficiency Improvement: AI can automate

routine tasks, streamline processes, and analyze
data quickly, leading to increased operational
efficiency.
2.Data Analytics: AI can process vast amounts of
data to provide insights, helping businesses make
data-driven decisions.
3.Cost Reduction: By automating tasks, businesses
can reduce labor costs and operational expenses.
4.Personalization: AI enables personalized
customer experiences, improving customer
satisfaction and loyalty.
5.Predictive Analytics: AI can forecast trends,
helping businesses plan for the future and adapt
to market changes.
Weaknesses:

1.Cost of Implementation: Developing and

implementing AI systems can be expensive,
especially for small businesses.
2.Data Privacy Concerns: The use of AI in data
analytics may raise concerns about data privacy
and security, leading to potential legal issues.
3.Dependency on Technology: Businesses may
become overly reliant on AI, potentially leading to
vulnerabilities if the technology fails or is misused.
4.Ethical Concerns: AI decisions can carry inherent
biases, and ensuring ethical AI usage can be
challenging.
5.Skill Gap: The need for AI expertise may create a
skill gap within the organization, making it difficult
to fully leverage AI capabilities.
Opportunities:

1.Market Expansion: AI can help businesses reach

new markets and offer innovative products and
services.
2.Competitive Advantage: Early adoption of AI can
give businesses a competitive edge in their
industry.
3.Customization: AI can facilitate product and
service customization, meeting individual
customer needs.
4.Continuous Improvement: AI can adapt and
improve its performance over time, leading to
enhanced productivity.
5.New Revenue Streams: Businesses can explore
AI-related services and products as new sources of
revenue.
Threats:

1.Cybersecurity Risks: AI systems can be

vulnerable to cyberattacks, leading to data
breaches and operational disruptions.
2.Regulatory Changes: Evolving AI regulations can
impact the way businesses use AI, potentially
leading to compliance challenges.
3.Resistance to Change: Employees and customers
may resist AI integration, hindering its effective
implementation.
4.Unemployment Concerns: The automation of
tasks through AI can lead to job displacement and
public backlash.
5.Technical Limitations: AI has its limitations,
including inability to understand context fully or
handle unexpected scenarios.
 CONCLUSIONS
AI in business management offers substantial
benefits, including efficiency improvements and
data analytics, but it also comes with challenges
such as high implementation costs and data
privacy concerns. To leverage AI effectively,
businesses should focus on addressing
weaknesses, capitalizing on opportunities,
mitigating threats, and promoting ethical and
responsible AI use.