Artificial Intelligence and Machine Learning as Business Tools: A Framework for Diagnosing Value Destruction Potential
Keywords:
Artificial Intelligence, Machine Learning, Value Creation, Value Destruction, Business InnovationAbstract
Machine learning (ML) and artificial intelligence (AI) have the ability to save expenses and increase the efficacy of corporate operations. On the other hand, they also have the capacity to devalue a company's assets, which may sometimes have extremely catastrophic effects. It's possible that some managers won't accept new technologies because they can't fully understand and effectively manage the risks associated with doing so. This will prevent them from realising their maximum potential. The findings of this study provide a fresh paradigm for detecting and limiting the value-reducing potential of artificial intelligence and machine learning for businesses. In addition to outlining the components of an AI solution, this research also recommends this paradigm. The paradigm might be used to map the components of an artificial intelligence system. The concepts of value-generation process and content are then used to illustrate how the aforementioned dangers have the potential to obstruct the creation of value or even result in the loss of that value. In the interest of shedding some light on the topic of the commercial activation of artificial intelligence, this study does an in-depth and careful examination of the existing body of literature on the topic. In addition to that, a clear and succinct explanation of what constitutes artificial intelligence at the present time will be provided. The Implications, Applications, and Methods model (also known as the IAM model) has uncovered a total of six topics that are associated with these three primary topics of discussion. It is possible that academics and practitioners will find our study beneficial in that it provides an overview of the body of knowledge and research agenda. This will allow for artificial intelligence to be used as a strong facilitator in the process of producing business value.
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