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Component- 2Creation and presentation of a digital artefact

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Introduction

Current use of Technology in Next Plc

Artifical Intelligence

Conclusion

Impact on Organisation Performance and Benefits

Recommendation

Table of Contents

Introduction

  • This presentation presents the use of new technology in Next Plc demonstrates different technology and shows how it can be beneficial and helpful for the business of Next Plc.
  • This presentation will evaluate the usage of different apps which are developed for business and artificial intelligence.
  • There are various apps which can make business processes very easy and make business more profitable and effective.
  • This presentation covers different current technologies that can be used in Next Plc such as office-based apps, enhanced collaboration, streamlined workflows and remote work enablement.
  • This presentation also covers the disadvantages of this technology to demonstrate the two faces of the technology.
  • The disadvantage this technology covers is dependency on Internet connectivity and security concerns.
  • Artificial technology is also covered in this presentation and demonstrates how it can be useful for the business of Next plc.
  • Artificial intelligence is helpful in making personalized customer experience better, enhancing operational efficiency and data driver insights and many more.
  • There are many technologies which are covered under this presentation including the benefits of blockchain integration which will improve the trust of customers over Next plc and many more.
  • This presentation also includes a conclusion and recommendation for implementation (Bai et al., 2020).

Current use of Technology in Next Plc

  • The Next plc has used many technologies that will make their business processes very easy and efficient.
  • They use office-based apps as invaluable toolkits that can be used by companies to enhance their efficiency and make business processes very simple.
  • The use of technology will make remote work very easy and it encourages talent which is independent of location and access to jobs.
  • The use of technology such as artificial intelligence and much more related to software technology will enable the employee to work at their full potential and the company also able to work at their full potential.
  • The technology will also make communication and interaction very easy which will enhance the innovation and ideas of employees (Garcia-Garcia et al., 2020).
  • This will result in the betterment of the organisational structure of Next plc and improve the working of the company that can make the Next plc most popular fashion brand.
  • The technology also improved the working conditions of Next plc and made workflow streamlined such that it will enhance the working and execution of operations at Next plc.
  • There are many advantages and disadvantages of technology including dependency on Internet connectivity and security concerns (Wang et al., 2022).

Artificial intelligence

  • Artificial intelligence is the most demanded technology and most implemented because it is able to reduce the operational costs of a company and benefit the company by saving many extra expenditures.
  • Artificial intelligence is also able to increase the efficiency of the company Next plc by enhancing customer experience by providing customers with a personalised feel, finding data-driven insights and many more.
  • Personalised experience improves customer satisfaction and customer experience which will result in more orders and customers.

Impact on Organisation Performance and Benefits

  • Artificial intelligence will reduce the chances of committing mistakes and enhance the working capacity of the Next plc which will help the company to stock more and more and reduce the optional margin.
  • Artificial intelligence is able to find hidden insights between data points and helps the company to make better decisions.
  • There are associated challenges with artificial intelligence including implementation and ethical consideration.
  • Artificial intelligence is hard to implement and requires more capital to implement it which makes it difficult to use it by small business owners.
  • The other challenge is ethical consideration because the work done is not considered ethical because it has very little involvement of humans which it is considered unethical work and cannot be considered as ethical (Dierksmeier and Seele, 2020).

Recommendation

  • The company Next plc should implement blockchain technology in their company to make their transactions safe and protected which will help them gain the trust of the customer easily.
  • They can implement it in steps in different parts of the company with less functionality.
  • This will help them in analysing the implementation and dictation of any fault in the technology and its implementation.
  • The collaborative partnership with the block blockchain company will give them leverage to understand the technology and its installation and pay after satisfaction such that it will save the cost of infrastructure.
  • Next plc should implement blockchain within regulatory compliance such that the company will not face any regulatory problems in future.

Conclusion

  • The conclusion of this presentation is that the use of the latest technology will improve the organisation and operational efficiency of Next plc.
  • There are many challenges associated with the technology which will create problems for the company in future.
  • The technology will reduce the operational cost of the company and increase the productivity and profitability of Next plc by enhancing customer experience, operational efficiency and many more parameters which define the company, its strengths, values and many more.

References

  • BAI, C.A., CORDEIRO, J. AND SARKIS, J. (2020) BLOCKCHAIN TECHNOLOGY: BUSINESS, STRATEGY, THE ENVIRONMENT, AND SUSTAINABILITY. BUSINESS STRATEGY AND THE ENVIRONMENT, 29(1), PP.321-322.
  • Dierksmeier, C. and Seele, P. (2020) Blockchain and business ethics. Business Ethics: A European Review, 29(2), pp.348-359.
  • Garcia-Garcia, J.A., Sánchez-Gómez, N., Lizcano, D., Escalona, M.J. and Wojdyński, T. (2020) Using blockchain to improve collaborative business process management: Systematic literature review. IEEE Access, 8, pp.142312-142336.l
  • Laroiya, C., Saxena, D. and Komalavalli, C. (2020) Applications of blockchain technology. In Handbook of research on blockchain technology (pp. 213-243). Academic press.
  • Wang, Z., Li, M., Lu, J. and Cheng, X. (2022) Business Innovation based on artificial intelligence and Blockchain technology. Information Processing & Management, 59(1), p.102759.

Thank You

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