Published Paper Details:

Artificial Intelligence has emerged as a dynamic force reshaping business operation across diverse industries. It encompasses a broad spectrum of applications, from automation and data analytics to personalization and customer service. AI's growing significance in business value creation is undeniable. Organizations are increasingly relying on AI to gain a competitive edge and enhance their operations. However, despite substantial investments in time, effort, and resources, many AI initiatives end in failure due to a lack of comprehensive understanding of how AI technologies can create tangible business value. To address this knowledge gap, this paper presents a narrative review that identifies how organizations can effectively deploy AI and the mechanisms through which AI generates value. This review delves into the multifaceted influence of AI on businesses, discussing its implications for research, innovation, market deployment, and the evolving landscape of business models. Drawing insights from Neo-Schumpeterian economics, we explore the pivotal roles of innovation, knowledge, and entrepreneurship in AI-driven business transformations. The research model employed offers a three-dimensional perspective that navigates through the significant dimensions of AI's impact. As AI continues to evolve, businesses must navigate ethical, regulatory, and workforce-related considerations. This review underscores the evolving dynamics of AI in the business domain and its transformative potential in an increasingly AI-driven world.