A Comprehensive Literature Review on AI and Its Impact on Business Value

Abstract

This comprehensive literature review explores the intersection of artificial intelligence (AI) and business value, aiming to provide a holistic understanding of how AI technologies influence organizational performance and economic outcomes. The review synthesizes research findings from diverse studies to examine the multifaceted impacts of AI on various aspects of business value, including operational efficiency, strategic decision-making, customer experience, and competitive advantage. The review begins by defining key AI technologies such as machine learning, natural language processing, and robotics, and their applications within different industry sectors. It then delves into how these technologies contribute to enhanced business processes, cost reduction, innovation, and revenue growth. Special attention is given to case studies and empirical research that demonstrate the tangible benefits and challenges associated with AI adoption in business contexts. Additionally, the paper addresses the role of AI in fostering datadriven decision-making and its implications for organizational agility and strategic alignment. The review also highlights gaps in the existing literature, such as the need for more longitudinal studies and sector-specific analyses to better understand the long-term effects of AI on business value. By providing a consolidated view of current research and identifying future research directions, this review offers valuable insights for academics, practitioners, and policymakers interested in leveraging AI to maximize business value and achieve sustainable competitive advantage.