Improving the Practice of Managerial Decision-Making in Modern Entrepreneurship on the Basis of Artificial Intelligence

Abstract

Purpose: The purpose of this work is to justify the prospects for improving the practice of management decision-making in modern business based on artificial intelligence on the example of the regions of the North Caucasus Federal District of the Russian Federation. Design/methodology/approach: In order to determine the context in which the modernization of entrepreneurship in the regions of the North Caucasus Federal District of the Russian Federation is carried out in 2018 and, in particular, the practice of management decision-making, a review and analysis of statistical data on the digitalization of business in the regions under study is conducted. Findings: It has been substantiated that the development of the digital economy in the region is cyclical: the new infrastructure available for business opens up opportunities for its modernization, promotes its flexibility and efficiency, thus increasing the level of digitalization in the region and creating prerequisites for the formation of new infrastructure. The example of artificial intelligence shows that its implementation in the practice of corporate decision-making needs infrastructure support. In turn, it increases the level of business automation, stimulating the government to create new infrastructure, as well as forming the experience of using artificial intelligence in decision-making and promoting its institutionalization. Originality/value: It has been proved that there is a close two-way relationship between state and corporate governance in the digital economy, causing their interdependence and ability to generate synergy effects in the form of accelerated construction and development of the digital economy. This connection is most distinct and strong at the level of the region, which emphasizes the special perspective of studying the regional aspect of digital economy. The analysis of modern experience of business digitalization in the regions of the North Caucasus Federal District of the Russian Federation in 2019 showed that some digital technologies have been introduced into the practice of decision-making, but the system automation of this practice has not yet been achieved—it will be facilitated by the proposed logical scheme.