The Impact of Artificial Intelligence on Global Business Practices

Abstract

This article highlights how artificial intelligence (AI) is transforming international business models by altering traditional business practices. With AI's assistance, global businesses can more easily grasp market trends, thereby enhancing operational efficiency and productivity. AI has revolutionized the efficiency of decision-making processes by reducing time, improving operational efficiency and reducing errors. It has optimized supply chain management by providing new AI-driven insights. Thanks to new technologies such as big data and the Internet of Things (IoT), companies can analyze market trends and improve their global competitiveness. However, AI may present risks in terms of ethical concerns and errors that could impact data security. It has become the responsibility of every employee and manager to improve their digital skills and knowledge about AI in order to remain competitive in their field of work. This research aims to understand the main challenges and opportunities that global businesses are facing due to the expansion of AI in the global economy, and how this is reshaping business models. Strategic adoption of AI can considerably foster innovation and bring huge competitive advantages. Companies and organizations should cooperate with AI researchers to innovate and expand safely. The future belongs to AI, and companies that master it will be more sustainable and resilient in a competitive global market. JEL: O33, M15, F23, M21, L86