{"title":"Generative artificial intelligence in small and medium enterprises: Navigating its promises and challenges","authors":"","doi":"10.1016/j.bushor.2024.05.008","DOIUrl":null,"url":null,"abstract":"<div><p>The latest technological developments in generative artificial intelligence (GenAI) offer powerful capabilities to small and medium enterprises<span> (SMEs) as they facilitate the democratization of scalability and creativity. With little technical expertise or financial resources, SMEs can leverage this technology to streamline work processes and unleash innovation, improving their product offerings and long-term competitiveness. In this article, we discuss how SMEs can navigate both the promises and challenges of GenAI and offer a roadmap for deploying the technology. We then introduce a sailing metaphor that reveals key strategic dimensions for GenAI deployment: competency of employees, effective leadership and work values, organizational culture, collaboration and cooperation, and relationships with third parties. We conclude with practical recommendations for successfully deploying GenAI in SMEs.</span></p></div>","PeriodicalId":48347,"journal":{"name":"Business Horizons","volume":"67 5","pages":"Pages 629-648"},"PeriodicalIF":5.8000,"publicationDate":"2024-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Business Horizons","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0007681324000685","RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
The latest technological developments in generative artificial intelligence (GenAI) offer powerful capabilities to small and medium enterprises (SMEs) as they facilitate the democratization of scalability and creativity. With little technical expertise or financial resources, SMEs can leverage this technology to streamline work processes and unleash innovation, improving their product offerings and long-term competitiveness. In this article, we discuss how SMEs can navigate both the promises and challenges of GenAI and offer a roadmap for deploying the technology. We then introduce a sailing metaphor that reveals key strategic dimensions for GenAI deployment: competency of employees, effective leadership and work values, organizational culture, collaboration and cooperation, and relationships with third parties. We conclude with practical recommendations for successfully deploying GenAI in SMEs.
期刊介绍：
Business Horizons, the bimonthly journal of the Kelley School of Business at Indiana University, is dedicated to publishing original articles that appeal to both business academics and practitioners. Our editorial focus is on covering a diverse array of topics within the broader field of business, with a particular emphasis on identifying critical business issues and proposing practical solutions. Our goal is to inspire readers to approach business practices from new and innovative perspectives. Business Horizons occupies a distinctive position among business publications by offering articles that strike a balance between academic rigor and practical relevance. As such, our articles are grounded in scholarly research yet presented in a clear and accessible format, making them relevant to a broad audience within the business community.
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