Digital Transformation and Artificial Intelligence in Organizations

Niran Subramaniam ()
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Niran Subramaniam: Henley Business School, University of Reading, Postal: Greenlands Campus, , Henley-on-Thames, , RG9 3AU,, UK.,, https://www.henley.ac.uk/people/niran-subramaniam

Journal of Financial Transformation, 2023, vol. 58, 90-97

Abstract: Digital transformation revolutionizes how businesses provide value by seamlessly integrating digital technologies into operations, strategies, and culture. Its core objectives encompass enhanced efficiency, elevated customer experiences, and heightened competitiveness, while ensuring adaptability in the face of swiftly evolving technology and market landscapes. A key enabler in this transformation is artificial intelligence (AI), which infuses intelligence and automation into digital technology utilization. AI’s capabilities encompass mining and analyzing diverse organizational data to unearth patterns that drive recommendations and inferences. For instance, customer data analysis unveils preferences, enabling personalized marketing and lucrative opportunities such as cross-selling and up-selling. AI, with its pattern recognition, inference, recommendation, and predictive analytics, is at the forefront of driving digital transformation in organizations. This article proposes a framework for successful digital transformation in organizations.

Keywords: Digital Transformation; Artificial Intelligence; Digital Technology; Inference Engines; Pattern Recognition; Organizational Transformation (search for similar items in EconPapers)
JEL-codes: M10 M15 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jofitr:1707

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