Strategic Implications of AI in Contemporary Business and Society

Abstract

This study examines the significant impact of AI in several fields, such as fashion e-commerce, retail, marketing, hospitality, military applications, and digital marketing. The study conducts a thorough examination of the literature and discovers recurring patterns, including the widespread impact of AI in transforming industries, ethical concerns surrounding the implementation of AI, the challenges and possibilities in hyper-personalization, and the strategic implications of AI in many sectors. The increasing influence of AI in influencing customer experiences, optimizing business operations, and revolutionizing marketing strategies is clearly evident in several research. Transparency, adaptability, and the requirement for algorithms that can be explained are important considerations when dealing with the intricacies of integrating AI. The recommendations prioritize ongoing investment in AI literacy, clear transparency regarding data usage, and a flexible approach to customization to adapt to changing consumer preferences. The significance of interdisciplinary collaborations and robust frameworks is emphasized by ethical considerations in the deployment of AI, particularly regarding biases and concerns about privacy. This study provides significant insights for researchers, practitioners, and policymakers, navigating the ever-changing world of AI-driven advancements.