Question 1

Technology has advanced over the years from the introduction of television to smart devices powered by the internet. Social media became the center of advancement, providing great benefits and challenges, such as increased and consistent interaction with customers and increased risk of negative influence spreading quickly through the internet. The world has progressed to new technology being implemented widely by various businesses and brands.

A new technology, Artificial Intelligence (AI) is rapidly growing. Artificial Intelligence works hand in hand with the existing technology used by brands to gain a competitive advantage. AI includes technologically inspired machines used to influence the experience of customers, online suggestions for customers based on their previous online searches, social media analysis, etc. Business leaders and various experts are pushing beyond limits to develop and implement new and innovative ways to utilise AI. Innovative approaches to learning to use AI machines are applied to daily operations by various brands. The revolutionary approach followed by businesses has resulted in unique ways to utilise artificial intelligence.

Required:
As a brand manager in a private organisation, you are planning to expand your brand to other parts of the BRICS countries ( Brazil, Russia, India, China, and South Africa). Prepare a speech that will be presented to the board of directors analysing the role of technology in brand development and brand success in the BRICS countries. Your speech should include the following points:

(i) The role of technology in brand development and brand success in the BRICS countries and reasons for businesses to apply the new technology (Artificial Intelligence), discuss opportunities and implications provided by the AI innovation in the BRICS countries.

Answer to Above Question

Modern day businesses make use of technology in performing the majority of their business functions. This is mainly because of significant advantages possible to accomplish from using technology in their business. The use of artificial intelligence is also gaining importance because of significant advantages offered by it to businesses. In this relation, businesses can make use of technology in creating brand development and thereby achieving brand success. Technology would be highly useful in enhancing brand awareness, and thereby in improving customer experience. With the application of technology, businesses can build brand loyalty and achieve improvement over their brand reputation. Technology can also be utilised in facilitating brand collaboration.

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