Harnessing the Power : Exploring Opportunities and Challenges for Successful AI Adoption in Organizations

Abstract: ABSTRACT Date: 2023-05-31 Level: Bachelor/Master thesis in Business Administration, 15 cr Institution: School of Business, Society, and Engineering, Mälardalens University Authors:  Axel Bodén   Gustav Dahlstedt   (99/08/12)   (99/03/01) Title: Harnessing the Power: Exploring Opportunities and Challenges for Successful AI Adoption in Organizations Supervisor: Ali Farashah Keywords: Artificial intelligence, Management, Adoption, AI Implementation Research Questions: 1. What are the key challenges and opportunities faced by organizations when adopting Artificial Intelligence technologies? 2. How can they effectively navigate this process to achieve positive outcomes? Purpose  The purpose of this article is to examine and explore the different opportunities and challenges that organizations face during the implementation phase of artificial intelligence (AI) whilst also exploring how organizations can navigate through the potential challenges. Furthermore, this article aims to answer the two research questions that are (1) “What are the key challenges and opportunities faced by organizations when adopting Artificial Intelligence technologies?” and   (2) “How can they effectively navigate this process to achieve positive outcomes?”. AI has recently attracted a large amount of attention with the release of chatbots like ChatGPT, many now perceive the immense usefulness of AI and dream of the opportunities that come with it. However, few understand that AI is more than just chatbots, and even fewer understand or know how to implement it in their organizations, therefore, this article aims to provide necessary research that can provide businesses with knowledge of how to successfully implement AI. Method  In this research paper, the authors aim to provide primary data through academic and qualitative research. 10 interviews were conducted primarily over Zoom with managers in the business that have experience working with AI either daily or occasionally. The interviews were semi-structured and synchronous. These can be found in Appendix A. The authors decided upon interviews via online platforms mainly due to convenience for managers, time zones, and physical distances. Conclusion  In conclusion, it is highlighted that the largest challenges that organizations face are related to AI implementation and the authors suggest strategies for navigating through the challenges to successfully implement AI by proposing partnerships or government-funded research institute projects. Furthermore, it is argued about the practical and the theoretical implications.