AI in Decision Making: Transforming Business Strategies
DOI:
https://doi.org/10.18034/ra.v11i3.667Keywords:
Artificial Intelligence, Business operations,, AI integration, strategic planning, AI-driven decision makingAbstract
Artificial intelligence has developed as a phenomenon greatly influencing numerous corporate sectors, particularly in decision-making processes. AI has matured into an intrusive instrument, impacting various corporate sectors, including their essential processes like decision-making. Ongoing improvements in AI technology have assisted organizations in optimizing their operations and strategic development. This research analyzes the function of AI in decision-making and its consequent impact on the enhancement of corporate strategy. A complete literature review was done for this inquiry. This article tries to evaluate the repercussions of AI across multiple sectors and its influence on business environments. It provides cases of AI application across different sectors and a critical critique of the present literature on AI within the business setting. It also discusses the challenges a corporation may face when integrating AI technology and evaluates probable developments that influence AI in business planning. Artificial intelligence positively benefits the business sector by boosting organizational decision-making capacities, leading to superior corporate decisions. The analysis points out a number of areas where AI has considerably enhanced efficiency as well as performance measures. The fundamental constraint of the study is that the deployment of AI is dynamic, with differing development rates across different industries. additional, there are additional limits such as data privacy and ethical difficulties and considerable expenses associated to using AI. The study stresses the relevance of AI in current management and proposes that firms should implement AI solutions to generate a competitive advantage. Managers and decision makers should consider the opportunities for employing AI and the diversity of possible difficulties that may occur. The provided study is valuable since it focuses on furthering our awareness of the true nature of threats and opportunities connected with AI, as well as reviewing the influence of this technology on numerous professions. This research adds to the achievements in understanding AI in organizational strategy and gives knowledge that is beneficial for academics and practicing managers.
Downloads
References
Ahamed, B. (2023). Impact of Artificial Intelligence on Business Decision Making. Journal of Business Analytics, 12(3), 245-267.
Agrawal, A., Gans, J., & Goldfarb, A. (2018). Prediction Machines The Simple Economics of Artificial Intelligence. Harvard Business Review Press.
Brynjolfsson, E., & McAfee, A. (2017). The Business of Artificial Intelligence. Harvard Business Review.
Bostrom, N. (2014). Superintelligence Paths, Dangers, Strategies. Oxford University Press.
Chui, M., & Manyika, J. (2018). AI Adoption Advances, but Foundational Barriers Remain. McKinsey Global Insti-tute.
Chen, H., Chiang, R. H. L., & Storey, V. C. (2012). Business Intelligence and Analytics From Big Data to Big Im-pact. MIS Quarterly, 36(4), 1165-1188.
Davenport, T. H., & Ronanki, R. (2018). Artificial Intelligence for the Real World. Harvard Business Review, 96(1), 108-116.
Domingos, P. (2015). The Master Algorithm How the Quest for the Ultimate Learning Machine Will Remake Our World. Basic Books.
Dhar, V. (2020). Should You Trust Artificial Intelligence? Harvard Business Review.
Davenport, T. H., & Ronanki, R. (2018). Artificial Intelligence for the Real World. Harvard Business Review, 96(1), 108-116.
Ghosh, S. (2021). Leveraging AI for Business Efficiency. Business Today.
Johnson, R. (2022). The Role of AI in Strategic Business Management. International Journal of Management Studies, 18(1), 56-78.
Johnson, R. (2022). The Role of AI in Strategic Business Management. International Journal of Management Studies, 18(1), 56-78.
Johnson, R. (2022). AI in modern industries: Case studies and implications. Journal of Business Innovation, 25(3), 45-60.
Kaplan, J. (2016). Artificial Intelligence What Everyone Needs to Know. Oxford University Press.
LeCun, Y., Bengio, Y., & Hinton, G. (2015). Deep Learning. Nature, 521(7553), 436-444.
Marr, B. (2020). How AI is Revolutionizing Business Strategy. Forbes.
Marr, B. (2020). Artificial intelligence in practice: How 50 successful companies used AI and machine learning to solve problems. Wiley.
Paschen, J., Wilson, M., & Ferreira, J. J. (2020). Collaborative Intelligence How Human and Artificial Intelligence Create Value Along the B2B Sales Funnel. Business Horizons, 63(3), 403-414.
Russell, S., & Norvig, P. (2020). Artificial Intelligence A Modern Approach. Pearson.
Smith, L. (2023). Ethical Considerations in AI Implementation. AI Ethics Review, 9(4), 112-130.
Silver, D., et al. (2016). Mastering the Game of Go with Deep Neural Networks and Tree Search. Nature, 529(7587), 484-489.
Zhang, Y. (2022). Predictive Analytics in Supply Chain Management. Journal of Operations Research, 45(2), 89-104.
Downloads
Published
Issue
Section
License
Copyright (c) 2023 Md. Shelim Miah, Most. Samira Akter, Deyab Rashid Samid, Md. Ta-seen Ahmed Siam
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
ABC Research Alert is an Open Access journal. Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal the right of first publication with the work simultaneously licensed under a CC BY-NC 4.0 International License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of their work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal. We require authors to inform us of any instances of re-publication.
