Revolutionising Management with Artificial Intelligence: Innovations, Challenges, and Future Prospects

AI has potentially altered and fine-tuned the modern intricacies of predicting and planning in business management by augmenting and automating the current systems in place. Because of AI interfaces, business operations have reached unbelievable heights, but these developments also trigger tremendous financial and legal problems. Underemployment because of AI, bias in algorithms, regulatory and compliance issues, and many more makes AI governance in management a thorny issue worthy of academic investigation. The purpose of this research is to investigate the phenomena of AI in business management from a legal and economic point of view in terms of innovations, risks, and governance structures. Using a combination of qualitative and quantitative methods, this thesis discusses AI’s impact on corporate governance, corporate finance, business intelligence, strategic planning, and the interrelated issues of regulation and compliance. The results of this study advocate for a regulated approach to the transition and transformation of businesses towards AI based systems to ensure transparency, responsibility, and ethical considerations. This research paper provides propositions for effective governance of AI in business management and highlights areas in which AI can help achieve sustainable business growth.