Turning Crisis into Opportunities: How a Firm Can Enrich Its Business Operations Using Artificial Intelligence and Big Data during COVID-19

Abstract

The COVID-19 pandemic has severe impacts on global health and social and economic safety. The present study discusses strategies for turning the COVID-19 crisis into opportunities to use artificial intelligence (AI) and big data in business operations. Based on the shared experience and theoretical ground, researchers identified five major business challenges during the COVID-19 pandemic: production and supply-chain disruption, appropriate business model selection, inventory management, budget planning, and workforce management. These five challenges were outlined with eight business cases as examples of companies that had already utilized AI and big data for their business operations during the COVID-19 pandemic. The outcomes of this study provide valuable insights into contemporary social science research and business management with AI and big data applications as a business response to any crisis in the future.