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Research Paper | Information Technology | United States of America | Volume 12 Issue 11, November 2023 | Popularity: 5.5 / 10
Augmenting Classical Strategic Tools with Artificial Intelligence: A Systematic Review of Enhanced Decision - Making Methodologies
Karthik Hosavaranchi Puttaraju
Abstract: This literature review examines the transformation of established strategic management tools through artificial intelligence (AI) integration, focusing on nine fundamental methodologies: SWOT Analysis, BCG Matrix, Porter?s Five Forces, OKRs, Blue Ocean Strategy, Balanced Scorecard, Hoshin Kanri, Agile Strategies, and Digital Transformation. While these frameworks have proven their value over decades, the emergence of AI technologies presents unprecedented opportunities for enhancement. This review synthesizes current research on how AI capabilities?including machine learning, natural language processing, and predictive analytics?can augment these traditional frameworks to improve their effectiveness and adaptability in the modern business landscape. The analysis reveals several key themes: (1) AI?s potential to process vast amounts of data for more comprehensive environmental scanning in SWOT and Porter?s analyses, (2) the use of predictive modeling to dynamically update BCG Matrix classifications and Blue Ocean opportunities, (3) real - time monitoring and adjustment of OKRs and Balanced Scorecard metrics through AI - driven dashboards, and (4) the integration of AI decision support systems in Hoshin Kanri and Agile methodologies. The review also identifies critical gaps in current research, particularly regarding the ethical implications of AI - enhanced strategic decision - making and the need for human oversight in strategic planning processes, contributing to both academic literature and practical application by providing a structured framework for the understanding of how AI can enhance rather than replace traditional strategic tools while highlighting areas requiring further research and development. The findings suggest that successfully integrating AI into these frameworks requires a balanced approach that leverages technological capabilities while preserving the human - centric aspects of strategic decision - making.
Keywords: Artificial Intelligence (AI), Strategic Management Tools, SWOT Analysis, BCG Matrix, Porter's Five Forces
Edition: Volume 12 Issue 11, November 2023
Pages: 2242 - 2247
DOI: https://www.doi.org/10.21275/SR23114091158
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