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The role of artificial intelligence in enhancing the strategic process in business management and its financial benefits

Kontodimos Theodoros

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Summary

This paper focuses on the impact of Artificial Intelligence (AI) in the enhancing of strategic processes within Business Management, with an emphasis on the financial benefits provided by its use. Through the integration of AI, businesses are able to analyze large volumes of data in detail, identifying trends and predicting market changes with increased accuracy, which contributes to the formulation of targeted and effective strategies. A significant financial benefit arising from the use of AI relates to the optimization of operational expenses for businesses. AI undertakes the execution of complex analyses with speed and precision, simultaneously reducing the cost and time of execution. Furthermore, AI's ability to adapt to different market conditions allows for the development of customized products and services, enhancing demand and improving the overall customer experience. This makes companies more dynamic and competitive in the international environment. Finally, AI contributes to the creation and evaluation of adversity management scenarios ('what-if' analyses), providing managers with tools for more effective preparation and response to potential obstacles, thereby enhancing operational consistency and corporate resilience. This research thoroughly records the capabilities and benefits of Artificial Intelligence in the development of strategic management and highlights the significance of AI as a catalyst for creating competitive and sustainable business advantages, making it an essential tool for any modern enterprise seeking to improve its market position.

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