Innovation management among the Indian small and medium-sized enterprises focusing on artificial intelligence: Opportunities and the way forward
Keywords:
Artificial intelligence, ChatGPT, Ethics, Innovation management, Machine learning, Micro, small and medium enterprises, Small and medium-sized enterprisesAbstract
Purpose: The current study details about how artificial intelligence (AI) is applied in innovation management among Indian small and medium-sized enterprises (SMEs). It is a first-of-its-kind study that delves into this research domain in Indian SMEs whereas the study provides in-depth insights into the topic undertaken. Methodology: This narrative review considers the research publications, company reports, government reports, books, research materials published by institutions, and other web pages to analyze the existing information and achieve the objectives. Findings: The current study has identified the challenges involved in AI implementation both during its adoption and its continued use in organizations in terms of human resources, ethics, technology, organizational, and economic aspects. It has also found the limitations faced during AI implementation in innovation management among SMEs elsewhere, while the study discusses the opportunities to overcome the issues in innovation management among Indian SMEs. Implications: The policymakers, governments, educational institutions, academia, and skill development centers are provided with various suggestions from the study outcomes and if implemented, AI can uplift the contributions made by Indian SMEs toward their gross domestic product. Originality: The current study is a first-of-its-kind research article that dealt with the impact of AI on the innovation management aspect among the Indian SMEs.
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