Abstract
The COVID-19 pandemic has severe impacts on global health and social and economic safety. The present study discusses strategies for turning the COVID-19 crisis into opportunities to use artificial intelligence (AI) and big data in business operations. Based on the shared experience and theoretical ground, researchers identified five major business challenges during the COVID-19 pandemic: production and supply-chain disruption, appropriate business model selection, inventory management, budget planning, and workforce management. These five challenges were outlined with eight business cases as examples of companies that had already utilized AI and big data for their business operations during the COVID-19 pandemic. The outcomes of this study provide valuable insights into contemporary social science research and business management with AI and big data applications as a business response to any crisis in the future.
Highlights
The COVID-19 pandemic hits public health as well as the world economy, and people around the world prepare to lead their lives in a challenging environment as a new normal era of the world [1]
The query arises what challenges business face during the pandemic and how to deal with these challenges to adjust to the new normal age? So far, to the best of our knowledge, up to date, no study has focused on the business challenges and their possible solutions using artificial intelligence (AI) and big data in business operations during this pandemic
Some firms have proved that AI and big data can support organizations for their smooth operation during the pandemic
Summary
The COVID-19 pandemic hits public health as well as the world economy, and people around the world prepare to lead their lives in a challenging environment as a new normal era of the world [1]. Public health is the worst-hit sector, the world economy is most distressed by COVID-19 [2] This crisis has severe adverse impacts on all business sectors, such as tourism, hospitality, transportation, manufacturing, and trading companies. Along with the adverse consequences of COVID-19 on public health [1,2,4], the pandemic has disrupted the smooth business operations and has faced businesses with some challenges [5,6,7]. The query arises what challenges business face during the pandemic and how to deal with these challenges to adjust to the new normal age? So far, to the best of our knowledge, up to date, no study has focused on the business challenges and their possible solutions using AI and big data in business operations during this pandemic
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