Title: Contours of Contemporary Research: Perspectives Across Disciplines
Chief Editors: Dr. S. Durga, Dr. S. Sathyapriya, and Dr. V. A. Jane
ISBN: 978-81-17787-25-0
Chapter: 1
DOI: https://doi.org/10.59646/880/1
Authors: Dr. A. Shameem, and Sathish P
Abstract
The notion of AI (Artificial Intelligence) is transforming the core concepts of innovation, strategic planning and value creation in business. Companies are altering the way they operate, from supply chain management to customer service to product development. However, progress in technology does not equate to progress in terms of sustainable development. While technology can increase efficiency, productivity and innovation, it can also bring negative effects for the environment, such as making algorithm bias worse, creating inequalities, raising consumption of resources and creating new issues of governance. In this situation companies must be able to use algorithms. In this article, the authors analyse how AI can be used wisely in innovation in order to enhance sustainable development, following the principles of the UN sustainable development goals (SDGs). This approach leads to the formulation of the AI – Sustainable Value (AI-SV) Framework combining existing theories about AI and sustainable development, innovation and business models that can help businesses create stakeholder value. The framework describes the process leading from Artificial Intelligence capacity through innovation in the responsible use of Algorithmic Intelligence and in the SDGs integration toward Sustainable Value Creation which are prerequisites of the sustainable transformation of the business model. The enablers on the way are responsible AI management, human supervision, stakeholder orientation, organizational capacity for sustainability and collaboration with the ecosystem. The chapter promises to analyse the possibility of AI to deliver multidimensional value and minimize the negative impact on the environment and society instead of focusing solely on productivity and the bottom line. The findings reveal that these organizations are capable of successfully integrating technological and sustainability intelligence in order to make AI go from operational capabilities to being a strategic tool used for achieving resilient growth, delivering value to stakeholders, and moving toward the achievement of SDGs.
Keywords: Sustainable Development Goals, Sustainable Value, AI Innovations, Sustainable Business Models, Algorithmic Intelligence and Sustainability