Investigating the Influence of Artificial Intelligence on Business Value in the Digital Era of Strategy: A Literature Review

Abstract

For organizations, the development of new business models and competitive advantages through the integration of artificial intelligence (AI) in business and IT strategies holds considerable promise. The majority of businesses are finding it difficult to take advantage of the opportunities for value creation while other pioneers are successfully utilizing AI. On the basis of the research methodology of Webster and Watson (2020), 139 peer-reviewed articles were discussed. According to the literature, the performance advantages, success criteria, and difficulties of adopting AI have been emphasized in prior research. The results of this review revealed the open issues and topics that call for further research/examination in order to develop AI capabilities and integrate them into business/IT strategies in order to enhance various business value streams. Organizations will only succeed in the digital transformation alignment of the present era by precisely adopting and implementing these new, cutting-edge technologies. Despite the revolutionary potential advantages that AI capabilities may promote, the resource orchestration, along with governance in this dynamic environment, is still complex enough and in the early stages of research regarding the strategic implementation of AI in organizations, which is the issue this review aims to address and, as a result, assist present and future organizations effectively enhance various business value outcomes.