Artificial
Intelligence (AI) and Machine Learning (ML) technologies have evolved as
crucial tools for improving Decision-Making (DM) processes in business
operations as businesses navigate complex as well as dynamic environments
increasingly. This paper scrutinizes the profound effect of AI and ML on the
efficiency and ethical governance of Business Decision-Making (BDM). Using the
convenience sampling technique, study data is gathered from 260 respondents who
are industry professionals and AI experts from various organizations in India.
As per the outcomes, a significant positive relationship betwixt multiple AI
and ML integration aspects and BDM effectiveness within firms. Notably, AI and
ML technology utilization, augmenting human intelligence, strategic
integration, AI&ML ethics and governance, and AI&ML skills and
expertise illustrate strong associations with the effectiveness of BDM.
Regardless of the several advantages of AI and ML, integrating AI and ML
technologies into BDM processes is not without challenges. This study finds
that one significant challenge is data privacy. AI frequently encompasses gathering
and investigating enormous personal data, thus raising concerns regarding data
security as well as privacy. In conclusion, AI’s and ML’s role in BDM is poised
to continue shaping the corporate world’s dynamics in profound as well as
enduring ways.
