Selection of Sources
In researching AI’s role in business strategy, we sifted through
academic databases like Google Scholar, JSTOR, PubMed, IEEE Xplore, and
ScienceDirect. Our selection criteria focused on credibility (published
in well-known journals), recency (last 5-10 years), citation impact
(widely cited works), relevance (directly addressing AI and business
strategy), and diversity (varied geographic and industry perspectives).
This process refined our sources to 33 key references that offer a
comprehensive view of AI in business, including both theoretical and
practical aspects.
One notable paper, Wamba-Taguimdje et al. (2020) [30], provided
empirical evidence on AI’s impact on organizational performance.
However, our research broadens the scope to encompass AI’s evolution,
industry impacts, and ethical considerations.
Historical Development of AI
Technologies
AI’s development, as detailed by Russell & Norvig (2010) [29],
traces back to early intellectual pursuits, evolving through significant
milestones and periods of stagnation, known as ’AI winters’. The 1990s
and 2000s saw advancements in machine learning, highlighted by Jordan
and Mitchell (2015) [16] and the rise of business intelligence and
analytics, as discussed by Chen, Chiang, & Storey (2012) [10]. The
social and economic influence of AI during this era was explored by
Brynjolfsson and McAfee (2014) [5] and Bughin et al. (2017) [6].
The 2010s were marked by breakthroughs in deep learning, with ethical
concerns around AI biases addressed by Knight (2017) [18] and O’Neil
(2017) [24]. The positive economic potential of AI was discussed by
Purdy & Daugherty (2016) [25] and Ransbotham et al. (2017)
[27]. Kaplan & Haenlein (2019) [17] provided an overview of
AI’s status and future directions.
In the 2020s, AI’s ubiquitous integration into various sectors brings
new ethical challenges. Fountaine et al. (2019) [13] advocate for a
blend of human intuition and AI in decision-making. West (2018) [23]
discusses AI’s impact on the job market, and Wirtz et al. (2019)
[14], along with Sun & Medaglia (2019) [32], highlight AI’s
transformative potential in public services and healthcare,
respectively, with associated challenges.
In conclusion, the journey of AI is a dynamic narrative of technological
progress intertwined with philosophical, societal, and ethical
considerations, reflecting our ongoing quest to enhance and understand
human intelligence through technology.
TABLE 1: EVOLUTION OF ARTIFICIAL
INTELLIGENCE