Critical review of literature and development of a framework for application of artificial intelligence in business

Artificial intelligence has the ability to predict outcomes accurately and with reliability. The techniques have been used in several industries and domains. However, documenting results from different research that were conducted have not been documented. Also, most of the research has been carried out in developed countries and not much work has been published from other economies. As a result, there is a need to develop proper research background so that application of AIs can be sustainable and effective. The purpose of this study is to critically review different studies that have adopted AI in several domains, so that a theoretical framework guide for researchers and practitioners can be developed. This framework will also establish future trends in the said research area. From online databases, relevant articles and extracts were retrieved and were systematically analysed. Using these inputs, a framework was developed. The findings of this study show that there is a gap between research work done and documentation available. The present applications of AI techniques require model-based approach that brings in consistency in research as well as for industry. A paradigm shift in the framework-based approach could lead to achieving a sustainable practice.