Lalithendra Chowdari Mandava, Department of Human Resource Development , The University of Texas at Tyler, Tyler, TX, USA.
Manuscript received on 15 August 2023 | Revised Manuscript received on 28 August 2023 | Manuscript Accepted on 15 October 2023 | Manuscript published on 30 October 2023 | PP: 13-28 | Volume-13 Issue-1, October 2023 | Retrieval Number: 100.1/ijeat.A42821013123 | DOI: 10.35940/ijeat.A4282.1013123
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Effective change management emerges as a deciding element for an organization’s survival and success in the changing terrain of today’s fiercely competitive business climate. The variety of change management theories and approaches that are currently available, however, paints a complicated picture that is plagued by inconsistencies, a lack of strong empirical support, and unproven assumptions about contemporary organizational dynamics. This essay seeks to set the basis for a fresh paradigm for effective change administration by critically analyzing popular change management ideas. The gap between theory and practice is addressed in the paper, which concludes with suggestions for more research. In parallel, artificial intelligence (AI) has made incredible progress, giving rise to computers that mimic human autonomy and cognition. Industry-wide excitement has been sparked by the enthusiasm among academics, executives, and the general public, which has resulted in significant investments in utilizing AI’s potential through creative business models. However, the lack of thorough academic guidance forces managers to struggle with AI integration issues, increasing the risk of project failure. An in-depth analysis of AI’s complexities and its function as a spark for revolutionary business model innovation is provided in this article. A thorough literature assessment, which involves sifting through a sizable library of published works, combines up-to-date information on how AI is affecting the development of new business models. The findings come together to form a roadmap for seamless AI integration that includes four steps: understanding the fundamentals of AI and the skills needed for digital transformation, understanding current business models and their innovation potential, nurturing key proficiencies for AI assimilation, and gaining organizational acceptance while developing internal competencies. This article combines the fields of organizational change management and AI-driven business model innovation with ease, providing a thorough explanation to assist businesses in undergoing a successful transformation and innovation. These disciplines’ confluence offers a practical vantage point for successfully adapting to, thriving in, and profiting within a dynamic business environment. Artificial intelligence (AI), a massively disruptive force that is altering international businesses, is at the vanguard of this revolution. The ability of AI to make decisions automatically, based on data analysis and observation, opens up hitherto untapped possibilities for value creation and competitive dominance, with broad consequences spanning several industries. With its quick scaling, ongoing improvement, and self-learning capabilities, this evolutionary invention functions as an agile capital-labor hybrid. Significantly, AI’s architecture serves as the cornerstone for data-driven decision support by deftly sifting through large and complicated datasets to extract insights. Thus, the symbiotic marriage of organizational change management and AI-driven business model innovation gives a thorough narrative, directing businesses towards not just surviving, but thriving in an ever-evolving business environment. It is underlined how business models (BMs) interact with technology to affect how well business’s function, underlining the need of taking BMs into account while using AI. Business model innovation (BMI) that AI unlocks may improve goods, streamline processes, and save costs. However, there is a void between technological improvements and their operationalization via BMs. Successful AI integration depends on a well-structured BM, which promotes agility and makes the most of technological resources. BMI is accelerated by AI, which reshapes sectors via innovation. Although interest in AI is high, strategic, cultural, and technological constraints sometimes prevent large investments from producing positive economic results. To fully utilize AI’s capabilities, structured BMs are required. Despite an increase in research, there is still little cohesive information about the business uses of AI. In an effort to close this gap, we examine implementation-related AI problems. Analyzing AI-driven BM transformation and risk management is aided by a study on BMI and digital transformation at the same time. The purpose of this study is to further our understanding of AI-driven business model innovation and to provide a useful framework to help practitioners navigate the potential and difficulties of AI implementation. The suggested roadmap aims to identify current knowledge gaps and future research initiatives.
Keywords: Transforming, Navigating, Innovation, AI’s Analyzing AI-driven
Scope of the Article: Artificial Intelligence