The Role of Machine Learning and Artificial Intelligence in Strategic Management

The application of machine learning and artificial intelligence (AI) has transformed strategic management, enabling businesses to make data-driven decisions that optimize performance and productivity. This research paper explores the importance of machine learning and AI in strategic management, highlighting its benefits, limitations, and future potential. The study uses a literature review approach to gather and synthesize information from academic journals, books, and reputable online sources. The findings of the research indicate that machine learning and AI can help firms gain insights into their operations and competitive landscape, identify opportunities for growth, and optimize their decision-making processes. However, the study also notes the challenges associated with the use of machine learning and AI, including data quality, data security, and ethical concerns. The research concludes that machine learning and AI can improve strategic management if implemented effectively, and businesses need to invest in developing their capabilities in this area to stay competitive in the digital age.