Reviewed by: Lacey Muenstermann
How AI is opening new doors in business + more local news
Sponsored
Artificial Intelligence — or AI, as we refer to it these days — has become a hot topic in business news lately, and some wonder if its prevalence is something to fear or embrace.
We met with an expert at the University of North Alabama’s Sanders College of Business & Technology about the advantages of AI, and its future in the business world. Read about it and more business news below:
How AI is affecting business + the role it will continue to play
Without a doubt, Artificial Intelligence is changing the way we work, as it has made its way into a bevy of industries. But is it coming too quickly to regulate? Does it even need to be regulated?
We spoke with Dr. Justin W. Carter, professor at the University of North Alabama’s Sanders College of Business & Technology about where this new technology stands — and should stand — in business, and Carter explained that AI can help both businesses and consumers alike.
“We’ve all experienced how our online activities can influence the marketing we see. You search for a product only to see ads for it the next day. This capability is largely driven by AI, and its proficiency in anticipating customer needs and preferences is only improving.
As AI technology advances, we can expect to see more companies offering personalized products and services, each tailored to meet our unique needs.”
Justin W. Carter, PhD, UNA Sanders College of Business & Technology
Carter said AI can also be beneficial to employees in several ways. For example, it can take repetitive administrative tasks out of the typical work day and allow employees to shift the majority of their time to value-added activities.
A big question surrounding AI, however, is what kind of regulations need to be involved, and who is supposed to enforce these regulations. Carter said the technology is advancing faster than it can be regulated — much like social media — so traditional regulatory methods will not work.
“We need a multifaceted approach that combines flexible, adaptive regulatory frameworks with strong industry self-regulation that emphasizes transparency, accountability and fairness.
This will require collaboration between governments, industry leaders and academic experts to establish guidelines that ensure ethical AI development without stifling innovation.”
Justin W. Carter, PhD, UNA Sanders College of Business & Technology
Carter added that the way to ensure that AI development aligns with our own well-being is to shift focus toward understanding and regulating the social and psychological impacts of its use, rather than how data is collected.
Automotive parts company opens new location in Huntsville
Automotive parts supplier Shape Corp. recently opened a new facility on Endeavor Way in Southpoint Industrial Park. The new facility is expected to create more than 100 new jobs in the area over the coming year.
The 202,306-square-foot facility specializes in the production of lightweight aluminum and steel crash management and structural components for automobiles, enhancing vehicle performance and safety.
The company already has a facility in Athens, which will continue to operate and specialize in plastic injection molding.
“This $74 million investment over the next five years is not just a commitment to a new site and equipment; it’s a commitment to the future of our community.”
Collin Daly, Limestone County Commission Chairman
Headquartered in Grand Haven, Michigan, the company employs 4,200 people across 14 manufacturing plants and five tech centers worldwide.
A look at the real estate market in North Alabama
The median listing home price in Huntsville was $391,900 in June 2024, trending down -6.7% year-over-year. Here’s how home prices look in Huntsville and surrounding cities for June:
| Huntsville | Median home price: $391,900 | Median days on the market: 46 |
| Madison | Median home price: $439,900 | Median days on the market: 52 |
| Athens | Median home price: $391,700 | Median days on the market: 60 |
| Decatur | Median home price: $295,000 | Median days on the market: 49 |
| Florence | Median home price: $319,900 | Median days on the market: 52 |
| Guntersville | Median home price: $517,000 | Median days on the market: 60 |
Look for our monthly North Alabama business news roundup this time next month, brought to you by the University of North Alabama Sanders College of Business & Technology.
Sponsored by:
Ad
