A Conceptual Framework on Defining Businesses Strategy for Artificial Intelligence

  • Salih Caner Girne American University, Turkish Republic of Northern Cyprus
  • Feyza Bhatti Girne American University, Turkish Republic of Northern Cyprus
Keywords: Artificial intelligence, Business strategy, Systematic literature review, Conceptual framework

Abstract

The technological developments on artificial intelligence (AI) are going to diffuse in all scales of firms in different industries. AI is increasingly used in diverse business functions, including marketing, customer service, cost reduction, and product improvement. Although there exists a large number of studies on AI, those focusing on the businesses are rather rare, and there is no holistic conceptual framework that brings the information on defining AI business strategy. The aim of this paper is to develop a conceptual framework on defining AI business strategy through a systematic literature review (SLR) of research conducted between 2015 and 2019. Consolidating business and technical views of AI, the paper discusses the major elements of AI in business like abilities and limitations of AI, economics and AI, business functions and AI, workforce, industries and AI, and regulations and ethics of AI on defining AI business strategy.

Author Biographies

Salih Caner, Girne American University, Turkish Republic of Northern Cyprus

Mr. Salih Caner (Corresponding author) is currently a PhD candidate at the Faculty of Business and Economics of the Girne American University in Girne, TRNC, Cyprus. He has received his BA in Computer Science Engineering from Hacettepe University, and MS in Informatics Institude of Middle East Technical University, Ankara. His MS study was related to applications of pattern recognition techniques on medical data. His research interest is on artificial intelligence and robotics from business management perspective.

Feyza Bhatti, Girne American University, Turkish Republic of Northern Cyprus

Dr. Feyza Bhatti is the Vice Dean and an assistant professor of Faculty of Business and Economics at the Girne American University, Turkish Republic of Northern Cyprus. She is also the Director of the Center for Gender Studies and Vice Director of Graduate Studies and Research at the same University. She received her BA in Economics from Bilkent University, Ankara, and MS in Economics from Eastern Mediterranean University, and thereafter her PhD degree in Sociology from University of Edinburgh. She is a mixed methods social science researcher with substantive experience and interest in gender and development, sociology of family, labour economics and qualitative management research.

Published
2020-09-12
How to Cite
Caner, S., & Bhatti, F. (2020). A Conceptual Framework on Defining Businesses Strategy for Artificial Intelligence. Contemporary Management Research, 16(3), 175-206. https://doi.org/10.7903/cmr.19970
Section
Application and impact of Artificial Intelligence (AI) in business management