The Impact of Artificial Intelligence (AI) on Business Operations in Bangladesh

Abstract

AI technology is becoming increasingly popular in the business sector in Bangladesh. AI's integration into different elements of daily life and business operations is common. Implementing it in the company may enhance marketing efforts by speeding up, reducing costs, and increasing accuracy. Business owners who use AI in their advertising efforts should expect increased popularity and a significant competitive edge in the digital industry. It may transform businesses through innovative ideas and effective marketing strategies. Additionally, it provides solutions for hard jobs, promoting significant company growth. However, there are also downsides to employing AI, including a lack of technical knowledge, concerns about data privacy and security, and challenges with gathering information and storage. To overcome these challenges, businesses should educate employees on AI, seek diverse financing and qualified personnel, collaborate with the government on infrastructure support and legislation, address job displacement concerns through training, and encourage employee acceptance of change. Businesses in Bangladesh can enhance operations and competitiveness via using these strategies. Business leaders, decision- makers, and researchers interested in maximizing AI's potential and improving business outcomes in Bangladesh may benefit from this research. The study continued by presenting theoretical and managerial implications that will help business owners, managers, stakeholders, and policymakers enhance their business performance.