Artificial Intelligence as a solution to business problems and inefficiencies: challenges and limitations in the implementation process.

Abstract

Digital innovation has become increasingly important for firms that want to retain or develop competitive advantage. One of the main drivers of digital transformation has been recognized to be Artificial Intelligence (AI). AI has a broad way of applications in business that spans from efficient resources allocation, automation of processes, high level of personalization in product and service offering, forecasting and more. Yet firms, especially Small and Medium-sized Enterprises (SMEs), find it challenging to develop AI projects or to decide whether AI application is worth solving specific problems. In this study I present a first high-level approach that can help firms uncover possible threats and opportunities in their business and successfully manage AI projects. Working in a team with colleagues from Ca' Foscari - University of Venice we applied this model on a real case. In this study I summed up our findings and suggested possible improvement of the process.