A Comparative Research on Artificial Intelligence-Driven Transformations in Business Management: Strategic Applications in Finance, Tourism, Healthcare, Retail, and Manufacturing Sectors
Year: 2024
Type: article
Abstract: Artificial intelligence (AI) is driving significant transformations across various sectors by enhancing operational efficiency, optimising decision-making processes, and providing personalised customer experiences. This study presents a comprehensive analysis of AI applications in five key sectors: finance, healthcare, retail, manufacturing, and tourism. In the finance sector, AI technologies such as algorithmic trading, robo-advisors, and fraud detection systems are streamlining processes and improving security. Healthcare has witnessed substantial advancements, particularly in medical imaging and personalised treatment. The retail sector benefits from AI through optimised inventory management, personalised marketing strategies, and enhanced customer service via chatbots and recommendation systems. In the manufacturing sector, AI is utilised to improve production processes through automation, predictive maintenance, and quality control, thereby increasing overall productivity and reducing operational costs. Although the tourism sector lags behind other industries in AI adoption, it is leveraging AI technologies to improve customer satisfaction with personalised travel recommendations, dynamic pricing, and virtual guides. The study highlights the similarities and differences in AI applications across these sectors, emphasising that while technologies such as predictive analytics and automation are widely adopted, each industry tailors AI to meet its specific needs. For example, finance and retail focus heavily on customer interaction and data management, while healthcare and manufacturing prioritise operational efficiency and precision. The article concludes by suggesting that, with the revolution in AI technologies, these technologies will increasingly shape industry applications in the future, contributing to the development of sectors by enhancing competitiveness, efficiency, and innovation.
Author: Saadet, GÜNDÜZ
Language: English
Subfield: Artificial Intelligence
Field: Computer Science
Domain: Physical Sciences
Open Access status: diamond
OpenAlex ID: W6967927042