Effective integration of artificial intelligence: key axes for business strategy

Abstract

Purpose This paper aims to explore the dimensions that foster the effectiveness of artificial intelligence (AI) within a business strategy. Design/methodology/approach The paper reviews recent contributions to AI and business success and identifies the key pillars that support the achievement of good results. Findings The paper proposes that there are four critical dimensions for developing an effective business strategy with AI. This research finds that AI has the potential to drive significant development when it is leveraged along four main axes: a focused strategy for AI, knowledge of the customers, effective interactions with customers and effective implementation of AI. These four dimensions are essential for nurturing the critical dimensions of AI that enable successful integration with the business strategy. To achieve this integration, the business strategy must take advantage of the insights and capabilities provided by AI while also understanding and deeply knowing the customers through effective interactions with them. The development is structured in an organizational alignment where AI helps employees and learns from them. By continuously learning from the exploitation of knowledge and big data, the organization can enrich its use of AI. Research limitations/implications The paper identifies four pillars of AI integration with the development of business strategy as areas for further empirical analysis by business researchers. Practical implications This paper offers strategies for managers and professionals to effectively integrate AI into business strategy. Originality/value The authors provide a novel perspective on using AI in business strategy by identifying four key axes of success in the current business landscape.

Implementations of Artificial Intelligence in Various Domains of IT Governance: A Systematic Literature Review

“…Additionally, AI-powered predictive analytics can enable organizations to anticipate and mitigate potential risks effectively. The study in [18] explained key axes to implement AI in business strategy, while a study in [3] explained how AI could be used in the digital era. By harnessing the potential of AI and ensuring responsible implementation, organizations can unlock new opportunities and drive innovation in their IT governance practices.…”

“…Alet J. [18] investigated how AI can be implemented and integrated with a company's business strategy. This study aims to discover factors and potential to maximize AI's ability effectively in developing business strategies.…”

“…Previous studies indicate that AI can be utilized to support the implementation of AI governance. Organizations can employ AI to determine IT governance standards/best practices [4] and develop an appropriate business strategy [10], [18]. Previous studies have also reviewed frameworks and models for IT governance that AI can effectively support [7], [19], including in the government sector [2].…”

“…Overview of how AI is implemented in four decades of research [18] Investigate factors and potential to maximize AI effectively Overview of how to implement AI effectively by some factors and potential [7] Examine the Artificial Intelligence (AI) and IT governance roles of one another.…”