IMPLEMENTATION OF ARTIFICIAL INTELLIGENCE IN BUSINESS PRACTICE
Abstract
The pervasive integration of digital technology across various aspects of human existence revolutionizes business models, expedites enterprises' entry into the global market, establishes novel parameters for personnel recruitment, and substitutes certain forms of human labor with algorithms and machines. Simultaneously, digitalization and technical advancements present chances such as the emergence of new career prospects and the broadening of job sectors, which uncover an individual's creative capabilities. This necessitates novel methodologies for comprehending the mechanisms of labor process change in the digital economy, ascertaining the worker's superiority over machines in the labor domain, and formulating strategies to fortify the worker's position in the digital labor market. This article examines the profound influence of artificial intelligence (AI) on business models in several industries. Companies around the globe are utilizing artificial intelligence (AI) to drive innovation and gain a competitive advantage as disruptive technologies transform established systems. This article explores the impact of emerging technology, specifically AI, on changing company strategies, in contrast to prior literature that mostly concentrates on external variables driving business model innovation. The research highlights a deficiency in comprehending the direct influence of AI on business model innovation and advocates for further extensive investigations in this particular domain.The article provides a thorough evaluation of the existing AI strategy, highlighting its limited emphasis on particular domains such as customer service and data analysis, which may impede the utilization of AI's cognitive potential. The article presents a thorough analysis of the AI ecosystem, highlighting open-source software platforms, fundamental AI technologies, and open AI platforms as crucial elements. This article examines the utilization of artificial intelligence (AI) in many areas, such as healthcare and education, with a particular focus on the management elements of the AI ecosystem.
References
Antonescu, M. Are business leaders prepared to handle the upcoming revolution in business artificial intelligence? Qual. Access Success 2018, 19, 15–19.
Artificial Intelligence Industry in Eastern Europe 2018. URL: https://www.dka.global/ai-in-eastern-europe-report
Brynjolfsson, E., & McAfee, A. (July 2017). The business of artificial intelligence. Harvard Business Review.
Bughin, J. et al. (2017). Artificial Intelligence: The Next Digital Frontier? McKinsey Global Institute Discussion Paper.
Council for Science, Technology and InnovationCabinet Office, Government of Japan. Report on the 5th Science and Technology Basic Plan. 2015. URL: https://www8.cao.go.jp/cstp/kihonkeikaku/5basicplan_en.pdf
Cox, C. (2018). Autonomous exchanges: Human-machine autonomy in the automated media economy (Doctoral dissertation). Department of Moving Image Studies, Georgia State University, Atlanta, GA, USA.
DataRobot raises $54 million to bring machine learning to predictive analytics. URL: https://venturebeat.com/2017/03/23/datarobot-raises-54-million-to-bring-machine-learning-to-predictive-analytics/
Fauquex, M. et al. Creating people-aware IoT applications by combining design thinking and user-centered design methods. In Proceedings of the IEEE 2ndWorld Forum on Internet of Things, Milan, Italy, 14-16 December 2015; pp. 57–62.
Foss, N.J.; Saebi, T. Fifteen years of research on business model innovation: How far have we come, and where should we go? J. Manag. 2017, 43, 200–227.
Frey, C. B., & Osborne, M. A. (2016). Technology at work v2.0: The future is not what it used to be. City GPS: Global Perspective & Solutions.
Garbuio, M.; Lin, N. Artificial intelligence as a growth engine for health care startups: Emerging business models. Calif. Manag. Rev. 2019, 61, 59–83.
Gassmann, O.; Frankenberger, K.; Sauer, R. A primer on theoretically exploring the field of business model innovation. The Eur. Bus. Rev. 2017, 4, 45–48.
Klaus Schwab, The Fourth Industrial Revolution. January 2016, World Economic Forum. ISBN 1944835008.
Lee, J. et al. Emerging Technology and Business Model Innovation: The Case of Artificial Intelligence. J. Open Innov. Technol. Mark. Complex. 2019, 5, 44.
Lindgren, P. (2016). The business model ecosystem. Journal of Multi Business Model Innovation and Technology, 4(2), 1.
Mavrodieva, A.V.; Shaw, R. Disaster and climate change issues in Japan’s society 5.0 – A discussion. Sustainability 2020, 12, 1893.
Ozkeser, B. Lean innovation approach in Industry 5.0. Eurasia Proc. Sci. Technol. Eng. Math. 2018, 2, 422–428.
Paschek, D.; Mocan, A.; Draghici, A. Industry 5.0-The expected impact of next Industrial Revolution. Dermol, V., Ed. Piran, Slovenia, 2019; pp. 125–132.
Sala, Hector, and Pedro Trivín. 2018. The effects of globalization and technology on the elasticity of substitution. Review of World Economics, 154: 617–647.
Statista (2023). Розмір ринку штучного інтелекту (AI) у всьому світі. URL: https://www.statista.com/statistics/1365145/artificial-intelligence-market-size/
Antonescu, M. (2018). Are business leaders prepared to handle the upcoming revolution in business artificial intelligence? Qual. Access Success, 19, 15–19.
Artificial Intelligence Industry in Eastern Europe 2018. (n.d.). Retrieved from https://www.dka.global/ai-in-eastern-europe-report
Brynjolfsson, E., & McAfee, A. (July 2017). The business of artificial intelligence. Harvard Business Review.
Bughin, J., et al. (2017). Artificial Intelligence: The Next Digital Frontier? McKinsey Global Institute Discussion Paper.
Council for Science, Technology and Innovation Cabinet Office, Government of Japan. (2015). Report on the 5th Science and Technology Basic Plan. Retrieved from https://www8.cao.go.jp/cstp/kihonkeikaku/5basicplan_en.pdf
Cox, C. (2018). Autonomous exchanges: Human-machine autonomy in the automated media economy (Doctoral dissertation). Department of Moving Image Studies, Georgia State University, Atlanta, GA, USA.
DataRobot raises $54 million to bring machine learning to predictive analytics. (2017). Retrieved from https://venturebeat.com/2017/03/23/datarobot-raises-54-million-to-bring-machine-learning-to-predictive-analytics/
Fauquex, M., et al. (2015). Creating people-aware IoT applications by combining design thinking and user-centered design methods. In Proceedings of the IEEE 2nd World Forum on Internet of Things, Milan, Italy, December 14-16, pp. 57–62.
Foss, N. J., & Saebi, T. (2017). Fifteen years of research on business model innovation: How far have we come, and where should we go? J. Manag., 43, 200–227.
Frey, C.B., & Osborne, M.A. (2016). Technology at work v2.0: The future is not what it used to be. City GPS: Global Perspective & Solutions.
Garbuio, M., & Lin, N. (2019). Artificial intelligence as a growth engine for health care startups: Emerging business models. Calif. Manag. Rev., 61, 59–83.
Gassmann, O., Frankenberger, K., & Sauer, R. (2017). A primer on theoretically exploring the field of business model innovation. The Eur. Bus. Rev., 4, 45–48.
Klaus Schwab, The Fourth Industrial Revolution. (January 2016). World Economic Forum. ISBN 1944835008.
Lee, J., et al. (2019). Emerging Technology and Business Model Innovation: The Case of Artificial Intelligence. J. Open Innov. Technol. Mark. Complex., 5, 44.
Lindgren, P. (2016). The business model ecosystem. Journal of Multi Business Model Innovation and Technology, 4(2), 1.
Mavrodieva, A.V., & Shaw, R. (2020). Disaster and climate change issues in Japan's society 5.0 – A discussion. Sustainability, 12, 1893.
Ozkeser, B. (2018). Lean innovation approach in Industry 5.0. Eurasia Proc. Sci. Technol. Eng. Math., 2, 422–428.
Paschek, D., Mocan, A., & Draghici, A. (2019). Industry 5.0-The expected impact of the next Industrial Revolution. In V. Dermol (Ed.), Piran, Slovenia, pp. 125–132.
Sala, Hector, and Pedro Trivín. (2018). The effects of globalization and technology on the elasticity of substitution. Review of World Economics, 154, 617–647.
Statista. (2023). Artificial intelligence (AI) market size worldwide. Retrieved 12/20/2023, from https://www.statista.com/statistics/1365145/artificial-intelligence-market-size/
