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Impact of Artificial Intelligence on Businesses: from Research, Innovation, Market Deployment to Future Shifts in Business Models

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  • Neha Soni
  • Enakshi Khular Sharma
  • Narotam Singh
  • Amita Kapoor

Abstract

The fast pace of artificial intelligence (AI) and automation is propelling strategists to reshape their business models. This is fostering the integration of AI in the business processes but the consequences of this adoption are underexplored and need attention. This paper focuses on the overall impact of AI on businesses - from research, innovation, market deployment to future shifts in business models. To access this overall impact, we design a three-dimensional research model, based upon the Neo-Schumpeterian economics and its three forces viz. innovation, knowledge, and entrepreneurship. The first dimension deals with research and innovation in AI. In the second dimension, we explore the influence of AI on the global market and the strategic objectives of the businesses and finally, the third dimension examines how AI is shaping business contexts. Additionally, the paper explores AI implications on actors and its dark sides.

Suggested Citation

  • Neha Soni & Enakshi Khular Sharma & Narotam Singh & Amita Kapoor, 2019. "Impact of Artificial Intelligence on Businesses: from Research, Innovation, Market Deployment to Future Shifts in Business Models," Papers 1905.02092, arXiv.org.
    • Handle: RePEc:arx:papers:1905.02092
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    References listed on IDEAS

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    1. David Silver & Aja Huang & Chris J. Maddison & Arthur Guez & Laurent Sifre & George van den Driessche & Julian Schrittwieser & Ioannis Antonoglou & Veda Panneershelvam & Marc Lanctot & Sander Dieleman, 2016. "Mastering the game of Go with deep neural networks and tree search," Nature, Nature, vol. 529(7587), pages 484-489, January.
    2. Volodymyr Mnih & Koray Kavukcuoglu & David Silver & Andrei A. Rusu & Joel Veness & Marc G. Bellemare & Alex Graves & Martin Riedmiller & Andreas K. Fidjeland & Georg Ostrovski & Stig Petersen & Charle, 2015. "Human-level control through deep reinforcement learning," Nature, Nature, vol. 518(7540), pages 529-533, February.
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    Cited by:

    1. Reem Mahmoud Ahmad Mashat, 2021. "The Effect of the Use and Knowledge of AI on the Advanced Entrepreneurship in Saudis Small Business and Startups," International Journal of Business and Management, Canadian Center of Science and Education, vol. 15(12), pages 1-35, July.
    2. Abdulrasool Abdulabbas, 2023. "Employ Successful Intelligence to Raise the Internal Auditor's Ability to Assess Risks: Evidence from Iraq," Technium Business and Management, Technium Science, vol. 3(1), pages 59-78.
    3. Khaliq, Abdul & Waqas, Ali & Nisar, Qasim Ali & Haider, Shahbaz & Asghar, Zunaina, 2022. "Application of AI and robotics in hospitality sector: A resource gain and resource loss perspective," Technology in Society, Elsevier, vol. 68(C).
    4. Florian Johannsen & Dorina Schaller & Milan Frederik Klus, 2021. "Value propositions of chatbots to support innovation management processes," Information Systems and e-Business Management, Springer, vol. 19(1), pages 205-246, March.
    5. Samira FRIOUI & Amel GRAA, 2024. "Bibliometric Analysis of Artificial Intelligence in the Scope of E-Commerce: Trends and Progress over the Last Decade," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 9(1), pages 5-24, February.
    6. Laith T. Khrais, 2020. "Role of Artificial Intelligence in Shaping Consumer Demand in E-Commerce," Future Internet, MDPI, vol. 12(12), pages 1-14, December.

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