Research Article
Transforming Business with AI: Impacts, Challenges and Opportunities
@INPROCEEDINGS{10.4108/eai.4-9-2024.2353765, author={Risma Amalia and Jingga Paradita and Rayhana Qurrota Aini and Sudrajat Sudrajat and Aryan Danil Mirza. BR and Rian Satria Prayoga}, title={Transforming Business with AI: Impacts, Challenges and Opportunities}, proceedings={Proceedings of the 7th International Conference of Economics, Business, and Entrepreneurship, ICEBE 2024, 4-5 September 2024, Shah Alam, Selangor, Malaysia}, publisher={EAI}, proceedings_a={ICEBE}, year={2024}, month={12}, keywords={artificial intelligence business models technology opportunities business transformation}, doi={10.4108/eai.4-9-2024.2353765} }- Risma Amalia
Jingga Paradita
Rayhana Qurrota Aini
Sudrajat Sudrajat
Aryan Danil Mirza. BR
Rian Satria Prayoga
Year: 2024
Transforming Business with AI: Impacts, Challenges and Opportunities
ICEBE
EAI
DOI: 10.4108/eai.4-9-2024.2353765
Abstract
This research aims to identify the impact of AI on current business models, analyze the opportunities created by this technology, and the challenges faced by companies in adopting it. The development of artificial intelligence (AI) technology has become one of the main drivers in business transformation in various sectors. In today's digital era, companies are required to adapt quickly to changes in the market. This study adopts a qualitative approach by conducting a systematic literature review and observation through netnography of relevant scientific articles. The focus of the analysis is on the influence of AI on business model changes in the period 2020 to 2024. The development of AI technology provides the potential for drastic changes in products, services, innovation processes, business models and the nature of business activities in industrial ecosystems that adopt digital service logic. Artificial Intelligence (AI) opens up new opportunities in business models, especially in terms of increasing efficiency, optimizing processes, and creating added value for customers. To maximize the benefits of AI, companies must take proactive steps in integrating this technology into their operations, while considering the possible social and ethical impacts.
