The Economic Potential of Autonomous Systems Enabled by Digital Transformation and Business Analytics
Year: 2024
Type: article
Abstract: Autonomous systems, a cornerstone of digital transformation, have emerged as transformative tools across industries such as manufacturing, healthcare, and logistics. Enabled by advancements in technologies like IoT, artificial intelligence (AI), and machine learning, these systems promise unprecedented efficiency, precision, and scalability. Business analytics serves as a critical enabler, providing the intelligence layer that empowers autonomous systems to analyze vast datasets, predict trends, and make informed decisions in real time. This paper explores the economic potential of autonomous systems, highlighting their ability to enhance productivity, reduce costs, and drive innovation cycles. Key findings demonstrate significant economic benefits, including operational optimization, increased competitiveness, and resource efficiency, while also addressing challenges such as workforce resistance, regulatory hurdles, and high implementation costs. The study underscores the need for supportive policies and strategic frameworks to maximize these systems' benefits. Future research directions focus on integrating advanced AI, examining socio-economic impacts, and exploring emerging technologies like quantum computing to further advance autonomous capabilities.
DOI: 10.61784/wjebr3017
Author: Rakibul Hasan Chowdhury
Institutions: Trine University, University of Portsmouth
Language: English
Field: Decision Sciences
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4405384203