Strategic Decision-Making in The Era of Artificial Intelligence: A Multi-Dimensional Evaluation of Opportunities, Challenges and Ethical Concerns
subject: Artificial Intelligence (AI); Decision-Making Outcomes; Ethical Considerations; Healthcare; Strategic Business Decisions
description: This paper explores the impacts of Artificial Intelligence (AI) on strategic business decisions, focusing on the opportunities, hurdles, and ethical aspects associated with embedded AI in organizations. With a mixed-methodology, the study does not rely solely upon quantitative data to assess decision-making consequences influenced by AI and machine technologies, but includes qualitative feedback from business leaders on the ground. The findings imply that while AI significantly enhances data analysis and informs strategic decisions, it also raises issues about transparency, accountability, and whether there may be bias embedded in decisions driven by algorithms. Nowhere is this more apparent than in the healthcare sector, the implications of which are significant as greater reliance on AI can facilitate improving operational efficiencies and patient results, but it also demands robust frameworks to confront the ethical issues around patient privacy and informed consent. Ultimately, this work fuels the debate regarding the transformative effect of AI on business strategy and highlights that the incorporation of ethical considerations cannot be compromised if we are to develop guidelines in this area. These recommendations can help to mitigate AI-related risks and enable responsible AI adoption in the healthcare and other contexts, and pave the way for future research on the emergent technology-strategic management connection. Neeraj Kumar et al.
creator: Kumar, Neeraj; Yadav, Swati; Charitha, Bondili Naga Sai Bhavya; Retd, Chacko Jose P.; Khound, Kaveri; Khandhadiya, Ravi Vijaybhai; Rupani, Jigar; Yadav, Nikita
source: International Journal of Accounting and Economics Studies;Volume;12;Issue;5;pp.950-955
publisher: Science Publishing Corporation Inc.
date: 01-01-2025
rights: All Open Access; Bronze Open Access
relation: ISSN: 23094508;
format: online
language: English
type: Article
coverage: Kumar N., School of Computer Science & Engineering (SCSE), Galgotias University, Uttar Pradesh, India; Yadav S., Graduate School of Business, Tulas Institute, Dehradun, India; Charitha B.N.S.B., Department of GITAM School of Business, GITAM University, Bangalore, India; Retd C.J.P., St Aloysius College, Elthuruth, Kerala, Thrissur, India; Khound K., Department of Economics, K.R. Mangalam University, Gurugram, India; Khandhadiya R.V., Faculty of Management Studies, Marwadi University, Gujarat, Rajkot, India; Rupani J., School of Business and Management, Christ University, Bangalore, India; Yadav N., Jagran Lakecity Business School, Jagran Lakecity University, Bhopal, India