Harnessing AI for Strategic Decision-Making and Business Performance Optimization

Authors

  • Kirti Gupta Professor, Institute of Management & Entrepreneurship Development, Bharati Vidyapeeth (Deemed to be University), Pune
  • Pravin Mane Assistant Professor, Bharati Vidyapeeth (Deemed to be University), Institute of Management and Entrepreneurship Development, Pune
  • Omprakash Sugdeo Rajankar Professor, Electronics and Telecommunication Engineering, Dhole Patil College of Engineering, Pune
  • Mahua Bhowmik Associate Professor, Department of Electronics and Telecommunication, Dr. D.Y. Patil Institute of Technology, Pimpri, Pune
  • Ranjana Jadhav Librarian, Bharati Vidyapeeth (deemed to be) University, Institute of Management &Entrepreneurship Development, Pune
  • Sapna Yadav Sr. Lecturer, ICT / Project Director Entrepreneurship Mindset Curriculum State Council of Educational Research and Training , Delhi
  • Shitalkumar Rawandale Dean Industry Institute Interaction PCET's Pimpri Chinchwad College of Engineering, Pune, Maharashtra, India
  • Santoshkumar Vaman Chobe Computer Engineering, Pimpri Chinchwad College of Engineering & Research (PCCOER), Ravet,Pune

Keywords:

Artificial Intelligence, AI, Strategic Decision-Making, Business Performance, Optimization, Predictive Analytics, Machine Learning, Data Mining, Decision Support

Abstract

Making strategic decisions and improving corporate performance have been transformed by the use of artificial intelligence (AI) into business operations. AI-driven methodologies provide sophisticated tools for analyzing enormous and complicated datasets, enabling companies to get insightful information and make decisions that were previously beyond the capability of humans. This abstract examines how AI is used to make strategic decisions and improve corporate performance. Organizations may use AI tools like machine learning, predictive analytics, and data mining to find patterns, trends, and correlations in data that indicate undiscovered possibilities and dangers. Businesses may proactively change their plans by using predictive modeling to foresee consumer behavior, market developments, and operational issues. Additionally, AI's capacity to handle real-time data enables swift decision-making, giving companies a competitive edge in industries that are changing quickly. AI helps with resource allocation, supply chain management, and inventory optimization in the context of business performance optimization. Modern algorithms streamline logistics, cutting costs and increasing effectiveness. Systems for personalized recommendations enabled by AI also increase revenue and customer satisfaction. Businesses may improve operational efficiency overall by streamlining operations, cutting waste, and utilizing AI-driven insights. This integration does not, however, come without difficulties. When using AI for decision-making, ethical issues, bias reduction, and data protection must come first. Additionally, even while AI supports human judgment, it still requires human interpretation to connect AI-generated insights to broader corporate objectives. In conclusion, the use of AI in corporate performance optimization and strategic decision-making heralds a fundamental change in the way companies function. Businesses get the adaptability and intelligence necessary to succeed in today's dynamic and competitive market by utilizing AI to analyze data, forecast trends, and improve operations. AI technologies have the ability to uncover previously unattainable value and encourage long-term success when used responsibly.

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Published

16.08.2023

How to Cite

Gupta, K. ., Mane, P. ., Rajankar, O. S. ., Bhowmik, M. ., Jadhav, R. ., Yadav, S. ., Rawandale, S. ., & Chobe, S. V. . (2023). Harnessing AI for Strategic Decision-Making and Business Performance Optimization. International Journal of Intelligent Systems and Applications in Engineering, 11(10s), 893–912. Retrieved from https://ijisae.org/index.php/IJISAE/article/view/3360

Issue

Vol. 11 No. 10s (2023)

Section

Research Article

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