VDS MANAGEMENT TECHNOLOGIES

Valencia Digital Summit Task

Advantages

Advantages

AI & Current Regulations

VR

Disadvantages

Disadvantages

Valencia digital summit

Advantages

Advantages

Ai tools applied to business

Metaverse presence

Disadvantages

Disadvantages

Advantages

• Improves collaboration (connet

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Disadvantages

VS

Advantages of VR

• Saves money on travel expenses
• Connects easily (employees, supervisors, higher-level management, stakeholders) no matter the distance
• Flexible access to customers increasing value
• Reduces branch shops (can be a disadvantage too)

Disadvantages of VR

• Isolation & Social disconnection due to not being physicaly with others
• Cost & Accessibility as AI can be expensice to delvelop & maitain -> less accessible to companies with smaller budget
• Technical difficulties as it is complex can cause issues for businesses -> disrupting flow
• Social Impact on employment as it may lead to more job losses (particularly in the retail industry)

Advantages of Metaverse Presence

• Enhances customer experience by providing interactive & immersive experiences for them
• Cost saving as no money will be spent on physical offices and therefor replaced by online platforms
• Improved collaboration by allowing people from across the world to connect with each other with less constraints

Disadvanatges of Metaverse Presence

• Ethical challenges due to the newness of the product still evolving (user data, consent & behaviour on the platfroms)
• Expensive to set up & will take a while to start making profit + may not be accessable for smaller businesses
• Technical challenges due to the adaptation period for employees who will have to learn to work using new technologies

Advantages of AI & Current Regulations

• Task Automation leaving the harder and more time consuming work to computers, giving employees the more creative tasks
• Improved Customer Assisstance due to 24/7 virtual help and chatbots helping ASAP customers in need of help or guidance
• Enhanced Customer Trust if the business follows the legal requirements set by the GDPR & CCPA it will improve consumer loyalty

Disadvantages of AI & Current Regulations

• Job losses (probably the main one) as automatisation leaves employees with no jobs as the manoeuvre becomes cheaper & often faster
• Data privacy concerns as a lot of customer data is involved meaning security breach is at risk causing bad reputation/legal penalties
• Reduction of creativity as reliance on AI tools can increase as seen as easier but human creativity and opinions is key

Advantages of AI tools Applied to Business

• Sales Forecasting & Budget Optimisation -> improving budgeting and financial plan using AI generated models of cash flow, expenses, revenue...
• Automation of certain tasks helping to save time & reducing the cost of operations
• Real time Fraud Detection as AI systems monitor everything reducing the risk of fiancial problems and being able to detect before to reduce impact

Disadvantages of AI tools Applied to Business

• High Energy Consumption as it requires a lot of computing power and energy impacting the costs + has a envirnonmental impact
• Complying to Legal Requirements set by the GDPR & CCPA who continously evolve new stricter rules regarding data handling, fairness, transparency

• Reduced human interactions as employees & customers can become too reliant on AI leading to less human contact ultimately worsening cutomer services -> = unhappy customers