1Department of Management Studies, Gayatri Vidya Parishad College for Degree and P.G. Courses (A), Visakhapatnam, Andhra Pradesh, India.
2Department of Advanced Computer Science and Engineering, Vignan's Institute of Information Technology (A), Visakhapatnam, Andhra Pradesh, India.
*Corresponding Author E-mail: satyavathi.m@gvpcdpgc.edu.in
Artificial Intelligence (AI) has the potential to revolutionize business operations by increasing efficiency, fostering innovation, and enhancing decision-making. The rapid growth of AI adoption has led to significant advancements in customer experience enhancement in the retail sector. However, integrating AI into retail business processes also raises complex issues such as job displacement, data quality concerns, and algorithmic bias. This study aims to identify areas where AI can add economic value to businesses, as well as areas where human involvement is essential and cannot be replaced by AI. Through a comprehensive literature review and case study analysis, this research examines the opportunities and challenges faced by retail companies in implementing AI. By exploring the intricate relationship between business and AI, this study seeks to educate researchers and business executives about the benefits and drawbacks of AI adoption, providing a nuanced understanding of how AI can drive business success. Furthermore, this study offers a roadmap for academics and industry professionals navigating the evolving landscape of AI adoption, highlighting future research directions.
Job Displacement, Artificial Intelligence, Data Quality and Algorithmic Bias
