How to Adapt to AI in Strategic Management-California Management Review Publication.
We appreciate that our article has been accepted and published in one of the most prestigious academic journals. California Management Review. (https://cmr.berkeley.edu/2023/06/how-to-adapt-to-ai-in-strategic-management/)
From quantitative research with 340 executives across countries of Germany, Australia, Hong Kong, and Taiwan, the block roads for AI implementation could be highlighted in the cultural and organizational structures as barriers.
However, what is alarming is the executives' and top executives' approaches towards the model of rapid transformation and "replacement" instead of a continuous development and improvement strategy in line with AI as a continuous Minimum Viable product to make AI a sustainable strategic resource.
In this article, we made evident how the approach needs to change and present solutions for the
cultural, structural, and lack of capability-building barriers that prevent organizations from moving toward the development of AI. Changing this approach can benefit the removal of the barrier, and it will be possible to develop an AI-powered strategy. Organizations can more effectively benefit from the opportunities related to AI to better align with the new requirements and removal of world business. AI-powered strategy is relatively new, with AI based on data and digital core.
In a Nutshell, as with the introduction of AI to a company, strategy development will change, and a new strategy development process will be redefined based on data analysis and digital applications.
Strategic Capabilities are required for Human and technical elements, from RPA automation to the Knowledge management system. Here, developing chatbots and using other AI tools can lead to developing a data-oriented approach in companies and eventually strengthen the data analysis side in AI-powered strategy development.
Other capabilities required are the digital core knowledge – software that uses the data generated by algorithmics and hybrid change capabilities with a bottom-up approach, thus involving employees, and as usual, a solid and effective sponsorship from the top to remove technology fear.
This AI-powered Business strategy, relying on data analysis and AI and digital technology, has a high potential to respond effectively to the emerging needs of today’s evolving business environment.