Fountaine, McCarthy, & Saleh (2019) [13] elaborate on this, describing the creation of an AI-powered organization as a journey that demands vision, patience, and continuous refinement. The businesses that successfully integrate AI are those that find the right balance between all these elements, leading to significant benefits.

Enhancing Employee Performance in IT:

Scenario: In software development companies, AI-driven tools are now used for debugging code. These tools quickly identify bugs and suggest fixes, making the developer’s job more efficient and less tedious.

Paper Reference: Bapna et al., 2013 [2]

Revolutionizing Decision-making in Retail:

Scenario: A fashion retailer that once depended on market surveys now uses AI to analyze real-time social media data, sales metrics, and global fashion trends. This helps them stock exactly what consumers want, reducing costs from unsold inventory.

Paper Reference: Makridakis, 2017 [20]

Transforming Organizational Structures in Banking:

Scenario: Traditional banks, with their hierarchical structures, are using AI for customer queries, transactions, and fraud detection. Automation allows for a leaner, more agile organizational structure.

Paper Reference: Makridakis, 2017 [20]

Disrupting Business Models in Transportation:

Scenario: Taxi companies are challenged by AI-driven platforms like Uber and Lyft, which optimize routes, predict demand, and use dynamic pricing. This tech-savvy, customer-focused approach is tough for traditional taxis to compete with.

Paper Reference: Makridakis, 2017 [20]

Optimizing Supply Chain in Manufacturing:

Scenario: A car manufacturer uses AI to monitor its supply chain in real time. AI algorithms adjust production schedules, order substitute parts, or re-route shipments when there are delays, leading to smoother operations and cost savings.

Paper Reference: Makridakis, 2017 [20]

These empirical studies showcase AI’s significant impact across various sectors, enhancing performance, revolutionizing decision-making, transforming organizational structures, disrupting traditional business models, and optimizing supply chains.

TABLE 4: AI’S TRANSFORMATIVE POTENTIAL ACROSS VARIED INUSTRIES