Artificial Intelligence and Reduced SMEs' Business Risks. A Dynamic Capabilities Analysis During the COVID-19 Pandemic.
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Authors
Publication Date
2022Journal Title
Inf Syst Front
ISSN
1387-3326
Publisher
Springer Science and Business Media LLC
Pages
1-25
Language
eng
Type
Article
This Version
VoR
Metadata
Show full item recordCitation
Drydakis, N. (2022). Artificial Intelligence and Reduced SMEs' Business Risks. A Dynamic Capabilities Analysis During the COVID-19 Pandemic.. Inf Syst Front, 1-25. https://doi.org/10.1007/s10796-022-10249-6
Abstract
The study utilises the International Labor Organization's SMEs COVID-19 pandemic business risks scale to determine whether Artificial Intelligence (AI) applications are associated with reduced business risks for SMEs. A new 10-item scale was developed to capture the use of AI applications in core services such as marketing and sales, pricing and cash flow. Data were collected from 317 SMEs between April and June 2020, with follow-up data gathered between October and December 2020 in London, England. AI applications to target consumers online, offer cash flow forecasting and facilitate HR activities are associated with reduced business risks caused by the COVID-19 pandemic for both small and medium enterprises. The study indicates that AI enables SMEs to boost their dynamic capabilities by leveraging technology to meet new types of demand, move at speed to pivot business operations, boost efficiency and thus, reduce their business risks.
Keywords
Artificial intelligence, Dynamic Capabilities, Smes, Covid-19 Pandemic, Business Risks
Identifiers
35261558, PMC8893980
External DOI: https://doi.org/10.1007/s10796-022-10249-6
This record's URL: https://www.repository.cam.ac.uk/handle/1810/335956
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