Integrating Artificial Intelligence Into the Management Decision-making Process in the New Era of Industry 4.0
Year: 2025
Type: conference-paper
Abstract: The integration of AI into management decision-making is transforming businesses in the era of Industry 4.0, driven by technologies like IoT, big data, and cloud computing. This study aims to explore the role of AI in enhancing operational efficiency, reducing costs, and fostering innovation in management practices. The working method involves a review of current literature to assess AI's capabilities, benefits, and associated challenges. AI supports faster, data-driven decisions, improving operational performance and allowing for more strategic, creative work. It aids in risk management, supply chain optimization, and identifying market opportunities. However, AI integration presents challenges, such as implementation complexity, expertise needs, data privacy concerns, and the potential impact on jobs. Ethical issues, including accountability and transparency, are crucial for maintaining trust. Despite these challenges, the study concludes that AI's role in reshaping decision-making offers significant potential for businesses to gain a competitive edge and adapt to changing market dynamics.
Institution: Technical University of Varna
Language: English
Field: Decision Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4411159999