Strategic Planning for Business Leaders Using AI

Abstract

In recent decades, the incorporation of AI in the strategic planning process is revolutionized the business model by improving the efficiency of decision-making, operations, and customer relationship management. AI provides the means for organizations to handle large volumes of data almost instantaneously allowing for the generation of predictive analytics that enhances forecasting and flexibility. It replaces manual labor for low-level duties and assigns humans the responsibility of higher-ranking tasks. On the other hand, there are challenges in AI development and deployment valuation such as a massive cost associated with technology purchase and data management. Integration can only be achieved if both artificial intelligence and the purpose of the firm's activities are harmonized while developing an environment where decision-making is collective and involves the use of AI as well as humans.