Intellectual revolution in entrepreneurship: How artificial intelligence technologies are transforming business processes

Dmytro Antoniuk and Oleksandr Kolyada

Management and Business Articles, 2023, vol. 1, issue 2, 69-83

Abstract: The article focuses on the importance of using artificial intelligence technologies by enterprises in the context of global competition and the need for innovative development. Their implementation not only optimises current processes, but also opens up new opportunities for innovation and competitiveness in various industries. The article considers the impact of AI technology on the functioning of enterprises and optimisation of business processes, focusing on the need to teach businesses to use this competitive advantage and the potential risks it carries. Analysing various business areas (from retail to hospitality and agriculture), the author systemises the impact of AI on the ability to solve various tasks of an enterprise. The article highlights the areas in which AI contributes to the improvement of business processes and the quality of goods and services. The key solutions available through the use of AI in business, such as data analysis and forecasting, business process automation, improving the efficiency of customer interaction, ensuring data security, and optimising the supply chain, are grouped. The article emphasises the importance of education and desire to develop of management and staff of enterprises for successful implementation of AI. The author proposes an optimal evolutionary approach to this process, considering data as a key resource for making strategic decisions and increasing competitiveness

Keywords: entrepreneurship development; business processes; artificial intelligence; ChatGPT (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:bdw:emsesd:v:1:y:2023:i:2:p:69-83

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