Generation AI and family business: a perspective article

Abstract

Purpose This perspective article responds to the emergence of artificial intelligence (AI) as a significant opportunity for growth among family businesses, highlighting the need for future research to attain a clear picture of the next generation of family business successors. Design/methodology/approach This is a literature review of current technology adoption within family businesses. The authors offer some research insight to spur critical thinking and discourse around the impact of AI on family business successors. Findings Family businesses are initially skeptical of AI technology. However, its use and adoption are crucial for the survival of the family business. To leverage this technology, the authors need to investigate the role of the family business successors as “Gen AI.” Originality/value It is challenging but necessary to develop policies and educational support for successors to ensure the survival of family businesses worldwide. The authors propose four key areas of future research.