Artificial intelligence: challenges and benefits for business

Abstract

The paper aims to explore the benefits and challenges that artificial intelligence (AI) brings to business. The performed tasks are related to: (1) an a priori study of literary sources focused on the positive and negative impact of AI for business organizations; (2) an empirical study to establish the attitudes among business representatives in Bulgaria towards the application of artificial intelligence (AI). The results, from an empirical pilot study, show that the Bulgarian business representatives see the positives of AI, related to reducing time and money by automating routine processes and tasks, as well as in marketing customer data mining activities and in analysing the big data of the market. AI concerns focus on the need for: deep technical knowledge, upgrading existing software, continuous training, and reskilling of the workforce. There is no preponderance of fears or positive expectations.