Artificial Intelligence and Business Strategy towards Digital Transformation: A Research Agenda

Abstract

In the past decade, current literature and businesses have drawn attention to Artificial Intelligence (AI) tools and in particular to the advances in machine learning techniques. Nevertheless, while the AI technology offers great potential to solve difficulties, challenges remain implicated in practical implementation and lack of expertise in the strategic usage of AI to create business value. This paper aims to implement a systematic literature review analyzing convergence of the AI and corporate strategy and develop a theoretical model incorporating issues based on the existing research in this field. Eighty-one peer-reviewed articles were discussed on the basis of research methodology from Webster and Watson (2002). In addition to gaps in future research, a theoretical model is developed, discussing the four sources of value creation: AI and Machine Learning in organizations; alignment of AI tools and Information Technology (IT) with organizational strategy; AI, knowledge management and decision-making process; and AI, service innovation and value. These outcomes lead to both theoretical and managerial viewpoints, with extensive possibilities to generate new methods and types of management practices.

Impact of Digital Strategic Orientation on Organizational Performance through Digital Competence

“…The use of IT is transformative, leading to fundamental changes in existing business processes, routines, and capabilities, enabling enterprises to enter new markets or withdraw from current markets [10]. Digital transformation utilizes digital technology to achieve cross-border interactions with suppliers, customers, and competitors [11]. Therefore, due to digital technology, digital transformation is closely related to the strategic change of business models.…”

Digital Transformation and Strategy in the Banking Sector: Evaluating the Acceptance Rate of E-Services

“…In an economic environment where many service sectors are pushed to search for innovative technological methods to serve their customers better and improve their internal processes [58][59][60][61][62][63][64][65][66][67], finding new business models with the digitalization of banking institutions' operations (digital transformation) is the most suitable process for the banking institutions of our country. Initially, this need was created for banks as they looked for ways to curb their operating expenses (reduction of physical stores and staff through voluntary exit programs), improve their internal processes and adopt a single way of working.…”

An Exploratory Literature Study into Digital Transformation and Leadership: Toward Future-Proof Middle Managers

“…Digital transformation, also called digitalization, can be described as a technology-enabled disruptive change process that affects every aspect of the organization [1,2,6]. New, emerging technologies are adopted to enhance internal processes and operations, satisfy customer needs and ultimately increase competitive advantage; it has the power to completely change the way organizations operate and create value [2,41]. Digitalization in organizations began with the rise of computers and evolved into the automation of business processes, ultimately leading to changes to business models, fueled and supported by emerging digital technologies, especially Internet technologies [1,5,12].…”

“…Digitalization in organizations began with the rise of computers and evolved into the automation of business processes, ultimately leading to changes to business models, fueled and supported by emerging digital technologies, especially Internet technologies [1,5,12]. During the last decade, access to big data, combined with improved algorithms and expansion of computer capacities, allowed increases in artificial-intelligencedriven transformations [41,42]. Artificial intelligence is the ability of a machine to simulate human intelligence and execute human-like tasks; in some cases, it can also learn from experience and adjust to new inputs [41,42].…”