Implementation of AI in Business Models: A Conceptual Study

Abstract

This paper attempts to study factors that hinder the implementation, profitability and performance of Artificial Intelligence in Cost Leaders, Differentiators and Innovators and examine methods to overcome the failure factors. Artificial intelligence (AI) replicates human logic by using connected and programmed devices. Its implementation aids operational efficiencies and business decisions based on outputs from cognitive technologies, resulting in consistent product quality and manufacturing costs without significant human intervention. Moreover, implementing AI in all business environments may not always be profitable, as updating complex devices, software, and associated methodology inculcate financial implications.