ENG502: AI Business Opportunity Analysis Assessment

 Assignment 1

Objective

This assignment requires you to identify a real-world business scenario either existing or hypothetical based on an Australian or local business context where Generative AI could significantly enhance innovation, efficiency, or customer understanding. The goal is to explore how AI can provide strategic value in business, from early ideation and research to positioning and competitive analysis.

You will work independently to produce a structured report that critically evaluates a business challenge or opportunity, outlines an AI-enabled solution, and reflects on both the potential value and ethical implications.

Instructions

Using a case study format, structure your report to address the following: 1.

• Introduction
  •  Briefly introduce your chosen Australian or local business, industry, or scenario. What is the core challenge or opportunity you aim to explore through the lens of Generative AI?
• Opportunity Identification 
  • Describe the nature of the business problem, customer insight gap, product design challenge, or competitive pressure.
  • Why this opportunity is worth addressing now.
  • The intended impact of solving this problem with AI.
• Generative AI Application 
  • Explain how you would use Generative AI as a thinking, research, or creative partner throughout this business challenge.
  • Indicate what kinds of AI tools might be used and how they would be integrated into the process.
  • Support this with evidence from experimentation or tool-based exploration (if conducted).
• Strategic Insights
  • Present insights related to:
  • Market trends relevant to your business idea
  • Consumer segments and customer personas
  • Competitor landscape and differentiation
  • These insights should demonstrate depth of thought and originality

• Ethical Considerations 

  • Discuss potential ethical issues related to the use of Generative AI in your case:
  • Data privacy, misinformation, bias, transparency, etc.
  • Consider mitigation strategies or governance frameworks that could be implemented

Assessment Summary

Objective:
The assignment requires students to explore a real-world business scenario (existing or hypothetical) in an Australian or local context and demonstrate how Generative AI can enhance innovation, efficiency, or customer understanding. The aim is to critically evaluate a business challenge or opportunity, propose an AI-enabled solution, and reflect on both strategic value and ethical implications.

Key Pointers to be Covered:

1. Introduction: Brief overview of the chosen business or industry, highlighting the core challenge or opportunity.
2. Opportunity Identification: Analysis of the problem, insight gaps, or competitive pressures; explanation of why addressing it now is valuable and how AI can make an impact.
3. Generative AI Application: Detailed explanation of how Generative AI tools would support ideation, research, and solution design; discussion of potential tools and integration approach.
4. Strategic Insights: Market trends, customer segments and personas, competitor analysis, and differentiation strategies.
5. Ethical Considerations: Assessment of ethical risks including data privacy, misinformation, bias, and transparency; proposed mitigation strategies.

Step-by-Step Approach Guided by Academic Mentor

Step 1: Understanding the Requirements

• The mentor clarified the assessment objectives and expectations.

• Emphasized the need for critical evaluation rather than descriptive reporting.

Step 2: Selection of Business Scenario

• Guided the student to choose a relevant local or Australian business scenario where AI can create measurable impact.

• Encouraged alignment with current market trends and practical feasibility.

Step 3: Opportunity Identification

• Mentor helped break down the business problem into actionable insights.

• Advised mapping customer pain points, product design challenges, and competitive pressures.

Step 4: Generative AI Application

• Discussed potential AI tools suitable for research, ideation, and creative problem-solving.

• Mentored the student to explain the workflow and integration of AI into the business process.

Step 5: Strategic Insights Development

• Guided on gathering evidence-based market trends and customer personas.

• Emphasized the importance of competitor landscape analysis and identifying points of differentiation.

Step 6: Ethical Considerations

• Reviewed possible ethical risks in using AI, including bias, misinformation, and data privacy concerns.
• Suggested frameworks for governance and mitigation strategies to ensure responsible AI use.

Outcome and Learning Objectives Covered

Outcome Achieved:

• The student produced a structured case study report that clearly presented the business challenge, AI-enabled solution, strategic insights, and ethical considerations.
• The report demonstrated critical thinking, originality, and practical application of Generative AI.

Learning Objectives Covered:

1. Ability to identify and evaluate business challenges and opportunities.
2. Understanding the strategic application of Generative AI in business scenarios.
3. Development of critical analysis skills in market, consumer, and competitor insights.
4. Awareness of ethical issues in AI use and capacity to propose mitigation strategies.
5. Skills in producing structured, evidence-based, and professional academic reports.

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