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@article{191181,
        author = {Dr. Lakha Raja Bapodara},
        title = {The Role of Artificial Intelligence in Driving Business Innovation: A Multi - Industry Analysis},
        journal = {International Journal of Innovative Research in Technology},
        year = {},
        volume = {12},
        number = {no},
        pages = {1046-1054},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=191181},
        abstract = {Artificial Intelligence (AI) distinguishes itself as a key driver of business innovation and competitive advantage, in what has become the digital age. Using qualitative synthesis across 30 peer-reviewed studies and reports from industry councils, this article investigates the transformative impact of AI across industry sectors - healthcare, finance, manufacturing, and retail - published between 2018 and early 2024. By reviewing the literature using systematic methods and comparing the comparative reports to synthesise findings, it identifies how AI-based technologies are reshaping companies’ futures by reshaping operations, decision-making processes, and accelerating innovation cycles. The synthesis indicates AI adoption rates made up of a nearly 40 percent increase in adoption globally from 2018 to 2023, with finance and manufacturing having the highest adoption rates owing to digitization and data intensity. Comparative to the rates associated with North America and Western Europe, developing economies lag behind on account of barriers such as expenses associated with implementation, limited digital infrastructure, and the development of professionals in AI. The findings of the study demonstrate that while AI adoption appears to provide a higher degree of efficiency and strategic advantage to businesses, the decision to invest in AI, capacity training, and policies must be identified and balanced for sustainable economies into the future. The paper concludes with several strategic recommendations that businesses and policy makers can consider for their own strategic planning processes as a consideration in pursuit of an equitable outcome of AI innovation for all nations, regions and economies across the globe.},
        keywords = {Artificial Intelligence, Business Efficiency, Business Innovation, Decision-Making, Developing Economies, Industry Adoption, Strategic Planning.},
        month = {},
        }