The impact of AI on business ecosystem development: pro and contra

Abstract

Nowadays the rapid advancements in artificial intelligence (AI) have significantly transformed various industries, including the business ecosystem (Agrawal, A., Gans, J., & Goldfarb, A., 2022). This study aims to examine the multifaceted impact of AI on business ecosystem development, considering both the positive and negative aspects mostly focused on developed countries.The positive effects of AI implementation on the business ecosystem are manifold. AI-powered technologies enhance productivity and efficiency, automate repetitive tasks, and optimize resource allocation(Floridi, L., 2019). Furthermore, AI algorithms enable businesses to gain valuable insights from large volumes of data, leading to improved decision-making processes and the identification of new market trends (Martin, R., & McCrae, D., 2020). However, along with the promising prospects, there are notable concerns surrounding the implementation of AI in the business ecosystem. Ethical issues, such as privacy infringement and data security, arise due to the vast amounts of sensitive information processed by AI systems. (Davenport, T. H., & Ronanki, R. (2018). Furthermore, the concentration of power in AI technologies within a few dominant players can lead to challenges related to market competition and access to AI-driven solutions.This study combines a comprehensive review of existing literature with case studies and expert interviews to provide a balanced assessment of the impact of AI on business ecosystem development. By analyzing real-world examples and industry cases, this research aims to shed light on the practical implications of AI implementation and identify strategies to mitigate potential risks and challenges.The findings of this study will contribute to the ongoing discussions surrounding the integration of AI technologies in the business ecosystem. The results will be of interest to policymakers, business leaders, and researchers, providing valuable insights into harnessing the potential benefits of AI while addressing the associated concerns.