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ARTIFICIAL INTELLIGENCE AND WISE DECISION MAKING IN BUSINESS: THE STRATEGIES AND PROSPECTS
ABSTRACT
This paper explores the transformative role of Artificial
Intelligence (AI) in enhancing wise decision-making within the business
environment, focusing on both strategic implementation and future prospects. As
AI technologies evolve, they offer unprecedented capabilities in data analysis,
forecasting, and automation, enabling businesses to make more informed, timely,
and objective decisions. However, the integration of AI into decision-making
processes also presents challenges related to ethics, data quality, transparency,
and the need for human oversight. This study examine the integration o AI into
business decision-making processes extends beyond operational efficiency,
influencing strategic areas such as innovation management, customer engagement,
supply chain optimization, and risk assessment. AI-based systems not only
assist in reducing cognitive biases but also enable managers to simulate future
scenarios and evaluate strategic options with greater accuracy. These
capabilities empower organizations to make "wise" decisions that
balance short-term performance with long-term sustainability (Jarrahi, 2021;
Chatterjee et al., 2021). Such strategic foresight is crucial in an environment
marked by uncertainty, disruption, and accelerated digital transformation. It was
concluded that while AI enables predictive analytics, process automation, and
personalized customer engagement, its long-term prospects lie in fostering
adaptive strategies that balance technological capabilities with ethical
considerations and human creativity. One of the recommendations is that
businesses should not fully automate strategic decisions with AI. Instead,
combine AI insights with human judgment to ensure contextual understanding and
ethical considerations are addressed.
Keywords: Artificial Intelligence, Wise Decision, Business, Strategies
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