The new Yankee stadium was established in 2009 with the purpose of replacing the old Yankee stadium. The necessity of this replacement came from the fact that new emerging formats of sports viewing had begun to play a larger role in revenue generated by the games. Chiefly, the new stadium was founded in order to accommodate the technological advancements needed for the stadium and events held there to thrive. Without these innovations and their appliance, the entertainment value of the events would dimmish and lead to significant losses in profit.
Nowadays, the entertainment industry is closely connected and reliant on technology. The old Yankee stadium was not equipped for the changes necessary to fulfill new demands from fans. The main problems that have arisen in the last decade are that people would rather watch games at home or choose other kinds of entertainment. To make the first-hand experience of baseball more appealing, the stadium had to provide a heart-stopping spectacle, which was achieved with the employment of large monitors, computers, and networking technology.
The sports industry is not the only business venture that sees benefits IT use for profit. For example, a chain of coffeehouses, Starbucks, employs AI to gauge product performance. The reward program that this company applies allows it to gather data on customers’ preferences or dissatisfaction (Chan et al., 2022). It positively influences such KPIs as client retention rate and has a large impact on client satisfaction, as this data helps shop managers understand the demand for any particular shop.
In conclusion, IT and IS play an important role in today’s business practices. The appliance of technologies permeates many levels of various industries, from entertainment to gastronomical suppliers. The technological innovations themselves can vary greatly: on the one hand, it could be different monitors, and on the other, complex networks and AI-based features. Indifferent of its complexity and purpose, technology’s enhancement of life and work experiences are extensive.
Reference
Chan, L., Hogaboam, L., & Cao, R. (2022). Applied Artificial Intelligence in Business. Springer, Cham.