You will select 2 of the 5 ideas in your Ideas Log to “test” through a researchprocess. Your...

Question

You will select 2 of the 5 ideas in your Ideas Log to “test” through a researchprocess. Your summarywillinvolveapreliminarymarketoverviewoftheseentrepreneurialsolutions,exploring:

ïCustomers,ïCompetitors,ïProduct/service,ïSuppliers,ïBusiness location, andïIndustry.

Yoursummaryshouldincluderesearchunderthe subheadings:

i)Demographicsandsegmentation,ii)Targetmarket,iii)Marketneed,iv)Competition,v)Barriers toentry, andvi)Regulation.

In this assessment, a preliminary market overview must include key business aspects under each ofthe suggested subheadings. Your writing is expected to be clear and well-evidenced with reliablesources.

Overall,youwillbeassessedonhowcriticallyyou:

ïIdentify andevaluate business ideas,ï

CIHEUnitOutline

Page1of17

Semester2,2021

ïConsiderresourcingforbusiness ideas,ïIdentifyanddiscussethicalissues, andsocialorbusinessresponsibilityissues,andïDescribe how potentialinvestorsandteammembersmight besourced.

9639815112021-2ysbpymn-srsqfofu-odh5cvla.docx

Taruna · Accepted Answer

Running Head: CIHE: NEW BUSINESS IDEAS 	1
CIHE: NEW BUSINESS IDEAS		2
ARTIFICIAL INTELLIGENCE AND AUTOMATION 
Table of Contents
Introduction	3
A Brief Fact Check of AI and Automation: Market Analysis and Demographics	3
Competitions and Barriers	4
Conclusion	5
References	6
Introduction 
	Artificial intelligence is no longer a new term for the future of business and personal world of people. In fact, if new business ideas are to be proposed, the development of artificial intelligence and automation are two basic factors which have been strongly promising in Australian context. This is due to the application of enhanced data volumes and advanced algorithms which have given precision and accuracy to the business operations. The following paper examines the target market and trends of AI and automation in the Australian business sector and how they have shown immense opportunities laced with the possibilities of growth and sustainability in business. This paper also showcases the key highlights of how some of the complicated business contexts are now managed easily with the application of AI and automation. 
A Brief Fact Check of AI and Automation: Market Analysis and Demographics  
	At first, it is significant to note the projected and current implications of artificial intelligence and automation in the Australian business world. At present, the use of digital technology and business has grown AU$ 315 billion and it will rise up to the multi trillion dollar global industry by the end of this decade. The Australian AI industry will require the various professionals dealing with language processing, management of the automated machines as well as the digital management of the concepts such as data mining and analytics of the information. This number is likely to grow by 1.6 million which is definitely promising towards opening up of the new job opportunities in AI sector. 
	Additionally, revolutionary products can be seen developing over the course of past few years in the AI sector. For example, Queensland University of technology has recently produced an on farm robotic technology that will assist in weed removal automatically in agricultural lands.

You will select 2 of the 5 ideas in your Ideas Log to “test” through a researchprocess. Your summarywillinvolveapreliminarymarketoverviewoftheseentrepreneurialsolutions,exploring:...

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