Final answer:
Big data is integral to modern businesses, with potential risks for those ignoring its influence. The impact of new technologies is debated regarding corporate size, and AI presents both economic opportunities and labor challenges.
Step-by-step explanation:
The significance of big data in today's businesses is becoming increasingly critical. Organizations that neglect the potential of big data may find themselves at a disadvantage, risking falling behind their competitors. This is especially true given the rapid growth and influence of big data across various sectors. For example, agriculture has transitioned from traditional methods of planning to data-driven decision-making processes using global positioning systems and weather monitoring services to maximize production.
In the realm of technology and corporate structure, the advent of new information and communication technologies has sparked a debate on whether they will lead to larger or smaller firm sizes. This debate considers how technologies can help small businesses expand beyond local boundaries or whether they will contribute to 'winner-take-all' markets dominated by large corporations. Moreover, with the rise of Artificial Intelligence (AI), there is a potential for significant economic growth, but also a risk of displacing a massive number of jobs, emphasizing the need for proper regulations to manage the transition.