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Digital Transformation and Artificial Intelligence in Organizations

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Abstract

Digital transformation revolutionizes how businesses provide value by seamlessly integrating digital technologies into operations, strategies, and culture. Its core objectives encompass enhanced efficiency, elevated customer experiences, and heightened competitiveness, while ensuring adaptability in the face of swiftly evolving technology and market landscapes. A key enabler in this transformation is artificial intelligence (AI), which infuses intelligence and automation into digital technology utilization. AI’s capabilities encompass mining and analyzing diverse organizational data to unearth patterns that drive recommendations and inferences. For instance, customer data analysis unveils preferences, enabling personalized marketing and lucrative opportunities such as cross-selling and up-selling. AI, with its pattern recognition, inference, recommendation, and predictive analytics, is at the forefront of driving digital transformation in organizations. This article proposes a framework for successful digital transformation in organizations.

Suggested Citation

  • Subramaniam, Niran, 2023. "Digital Transformation and Artificial Intelligence in Organizations," Journal of Financial Transformation, Capco Institute, vol. 58, pages 90-97.
    • Handle: RePEc:ris:jofitr:1707
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    More about this item

    Keywords

    Digital Transformation; Artificial Intelligence; Digital Technology; Inference Engines; Pattern Recognition; Organizational Transformation;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management

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