Research Briefing: The Role of AI in Business Decision Making

Keywords: Artificial Intelligence, Business Decision Making, Efficiency, Accuracy, Innovation, Machine Learning
Source: International Journal of Advanced Computer Science and Applications
Link: Read the full article at ijacsa.thesai.org
Authors: Anupama Prasanth, Densy John Vadakkan, Priyanka Surendran, Bindhya Thomas
Published: June 2023
Est. Read Time (Original): ~30 minutes

Research Objective

This study investigates the transformative role of Artificial Intelligence in modern business. The primary goal is to explore how AI is being deployed to enhance decision-making processes and how it is fundamentally changing traditional business models. The research examines AI's capacity to move beyond marketing applications to remodel core business concepts and solve complex operational challenges.

Key Findings

The study concludes that the integration of AI into business decision-making is deeply transformative, offering significant, measurable advantages. The core findings are:

• Enhanced Efficiency and Speed: AI-powered systems can process and analyze vast amounts of data far more efficiently than human teams, leading to quicker and more informed decisions.

• Improved Accuracy and Innovation: By identifying patterns and generating insights from data, AI increases the accuracy of forecasts and provides a foundation for innovative solutions to challenging problems.

• A Shift in Business Models: The application of AI is a catalyst for remodeling business concepts, enabling the creation of stronger online brands and more competitive marketing strategies.

Business Implications

This research formalizes what many leaders are seeing in practice: AI is a foundational technology that is reshaping how businesses operate and compete. For leaders, the implications are both strategic and operational:

• AI as a Core Strategic Asset: The ability to leverage AI is no longer a niche technical capability but a central driver of competitive advantage. It provides the means to extract actionable insights from data that would otherwise be overwhelming.

• The Need for Responsible Integration: The authors correctly identify that implementing AI is not without challenges. Leaders must proactively address critical issues of data privacy, security, and the ethical use of AI to maintain customer and societal trust.

• The Human Factor is Critical: The integration of AI has a direct impact on the workforce. It necessitates a strategic focus on reskilling and upskilling employees, as the nature of many jobs will shift from performing routine tasks to supervising and leveraging AI-driven systems.

The Strategic Question for Leaders

This research highlights AI's potential to revolutionize how businesses operate. Beyond using AI for isolated tasks like marketing or data analysis, what steps is your organization taking to integrate AI as a core component of its central decision-making processes to drive true business model transformation?

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