Application of AI in Determining the Strategies for the Startups

Title

Application of AI in Determining the Strategies for the Startups

Creator

Rajendran V.; Tiwari A.; Tripathi V.

Description

Startups face unique challenges in developing viable strategies to create a competitive advantage and achieve long-term success in today's rapid and global business climate. Using tools powered by AI and algorithms, startups may harness massive amounts of data, generate relevant insights, and make intelligent choices across a variety of business processes. The research begins with an examination of the fundamental concepts beneath AI and how they are used in the business sector. It illustrates how organizations may simplify and improve important activities such as market research, customer segmentation, and trend analysis using artificial intelligence (AI), natural language understanding (NLU), as well as predictive analytics. The report also delves into extensive case studies and real-world examples of businesses that have effectively integrated AI into their business decision-making processes. These examples highlight the practical benefits of AI-driven insights that include enhanced resource allocation, customer targeting, as well as operational performance. It highlights the importance of ethical AI methodologies, transparency, and safeguards to ensure unbiased and fair decision-making. Finally, this study demonstrates how AI has the potential to profoundly transform how entrepreneurs design and implement their strategies. By leveraging AI-driven perspectives, startups may handle complex market dynamics with more precision and agility, increasing their chances of enduring and succeeding in a competitive business climate. The study's findings provide a road map for organizations wishing to apply AI in strategic decision-making processes. 2024 IEEE.

Source

Proceedings - 2024 International Conference on Healthcare Innovations, Software and Engineering Technologies, HISET 2024, pp. 374-376.

Date

2024-01-01

Publisher

Institute of Electrical and Electronics Engineers Inc.

Subject

Artificial Intelligence (AI); Business; Language; Robots; Startups

Coverage

Rajendran V., Christ (Deemed to Be) University, Delhi, India; Tiwari A., Christ (Deemed to Be) University, Delhi, India; Tripathi V., Xavier Institute of Management & Entrepreneurship, Bangalore, India

Rights

Restricted Access

Relation

ISBN: 979-835036070-7

Format

Online

Language

English

Type

Conference paper

Identifier

https://doi.org/10.1109/HISET61796.2024.00109

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85211331830&doi=10.1109%2fHISET61796.2024.00109&partnerID=40&md5=f7d0263dd8b572ff404f8838db133d7a