NABET, NABET 2020 CONFERENCE

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Creating Value Artificially: Resourcing AI in Organizational Strategy
Joseph A. Rosendale, Daniel Dieter

Last modified: 2020-07-20

Abstract


The future of business is constantly changing perhaps more quickly now than at any point in the past.  New business strategies, modeling, globalization, and regulations, among many others, all play a critical role in organizational advancement and executive decision making, while the need for firms to constantly innovate remains irrefutable. After a brief overview of artificial intelligence (AI), this presentation discusses the potential for AI to serve as a valuable firm resource and driver of value creation for organizations. Using the resource-based view, the presenters explore factors associated with AI as pertains to the technology’s value, rarity, imitability, and substitutability. Noted benefits of incorporating AI include convenience for consumers, better firm responsiveness, and increased accuracy of information. Integration considerations suggest aligning AI with core competencies of the organization, increasing training and exposure for managers and employees, and investing in appropriate technology to maximize the impact of AI.


Keywords


Business Strategy, Innovation, Value Creation