ASSESSING THE RISK OF VALUE DESTRUCTION VERSUS VALUE CREATION POTENTIAL: THE USE OF ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING AS BUSINESS APPLICATIONS
This research examines the current state of artificial intelligence and machine learning adoption and application in business processes. The study will explore and assess the benefits and drawbacks of leveraging artificial intelligence and machine learning to increase operational efficiency in businesses by identifying risks and potential value destruction. The findings will enable a trade-off analysis of the value creation and destruction caused by AI and machine learning as business tools.
Objectives
1) Determine and isolate value creation and value destruction variables.
2) Using pertinent case studies, ascertain which business processes are impacted by each of these tools in their respective industries.
3) Using applicable case studies, assess the impact of each of these tools on business operations.
4) Assess the impact of artificial intelligence and machine learning on the enterprise’s tangible and intangible value, determining whether they create or destroy value.
5) Propose a business model based on the evaluation that maximises operational efficiency through AI and machine learning while minimising value destruction trade-offs via industry-specific theoretical frameworks.
