Artificial Intelligence (AI) has become a leading force for economic changes in the world from top technology. Its sharp deployment in areas is reshaping productivity trends, reshaping competition, and forcing governments, businesses, and employees to develop dynamic realities. Some areas are quickly emerging, attracting capital and building new values, while others are fighting to develop because automation and generic AI technologies are harassing traditional jobs.
Credit card fraud losses hit $6.2 billion during 2023 because 62 million Americans were affected, and 92% of these incidents occurred without the physical loss of the card. It is projected that card fraud globally will come to a cost of $49 billion each year by 2030 if the current trends continue. The PYMNTS report mentioned that, in previous years, 28% of consumers were considered victims of credit cards. Forbidden access into credit card accounts worries 37% either very or extremely, furthermore.
Online shopping is a wider market; there are so many pros and cons there. From the economic point of view of preference for online shopping, what are the potential drawbacks? The first one is bargaining power—the bargaining power of the buyer is zero; there is no chance for that in online shopping. The term bargaining means the buyer compares the product and prices it at what it's worth for that product.
The manufacturing industry can be enlarged in two ways: horizontal integration and vertical integration. Let's see what these two are, one by one. Horizontal integration means a merger with another manufacturer that can produce the same product. This will increase the market share. If that's the case, then we will get the customers of that merger manufacturer.
A method that everyone knows is to produce a product at the lowest price, from the price of the product sold in the market, called the minimum cost of production, as well as the maximum profit. How about it? because we produce it at a low cost from our market price but sell it at market price.
