AI and Data-Driven Decision-Making: Implications for Strategic Management

Abstract

Data-driven decision-making and artificial intelligence (AI) are making strategic management ground breaking as companies undertake large volumes of data to make better decisions. Predictive analytics, automation and machine learning using AI can provide better efficiency, accuracy and competitive advantage. Nevertheless, it has to overcome issues of data privacy risks, costs of implementation, and biases in AI algorithms. In this article, the strategical management connected with the AI is analyzed with references to its advantages and disadvantages and predicting tendencies. The results indicate that the use of AI in the process of strategical planning may bring large-scale effects on the success of business.