Artificial Intelligence – Opportunities and Challenges for Small and Medium Enterprises in Romania. A Case Study on the Exonia Group

Abstract

The economy of Romania is changing quickly, and small and medium-sized enterprises are at a stage where implementing artificial intelligence could make all the difference. Small and medium enterprises that do not have sufficient cash or specialised knowledge find this hard to apply, according to the literature. This paper tries to connect the dots by analyzing the relationship between small and medium enterprises and artificial intelligence in Romania through document analysis and a case study of Exonia, a group of Romanian companies that successfully implemented artificial intelligence in their businesses. The methodology also entails the analysis of graphs based on the digital economy and society index, exemplifying the latest information regarding the position of Romania in respect of small and medium-sized enterprises (and not only) that implemented artificial intelligence compared to the other countries in the European Union. Exonia's example shows how small and medium enterprises can make artificial intelligence an opportunity to obtain more efficient operations and happier customers. This paper was co-financed by The Bucharest University of Economic Studies during the PhD program.