Journal of Business Research 121 (2020) 283–314

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Journal of Business Research

journal homepage: www.elsevier.com/locate/jbusres

Artificial intelligence and business models in the sustainable development T

goals perspective: A systematic literature review
Assunta Di Vaioa, , Rosa Palladinoa, Rohail Hassanb, Octavio Escobarc
⁎

a
Department of Law, University of Naples “Parthenope”, via G. Parisi, no. 13, 80132 Naples, Italy
b
Othman Yeop Abdullah Graduate School of Business (OYAGSB), Universiti Utara Malaysia, 06010 UUM Sintok, Kedah Darul Aman, Malaysia
c
EM Normandie Business School, Métis Lab, 64 Rue du Ranelagh, 75016 Paris, France

ARTICLE INFO ABSTRACT

Keywords:
Artificial Intelligence (AI)
Machine learning sustainability
Cultural drift
Sustainable business models
Knowledge Management System (KMS)
This paper investigates the literary corpus on the role of Artificial Intelligence (AI) in the construction of sus-
tainable business models (SBMs). It provides a quantitative overview of the academic literature that constitutes
the field. The paper discusses the relationships between AI and rapid developments in machine learning and
sustainable development (SD). Specifically, the aim is to understand whether this branch of computer science
can influence production and consumption patterns to achieve sustainable resource management according to
Sustainable Development Goals (SDGs) outlined in the UN 2030 Agenda. Moreover, the paper aims to highlight
the role of Knowledge Management Systems (KMS) in the cultural drift toward the spread of AI for SBMs. Despite
the importance of the topic, there is no comprehensive review of the AI and SBM literature in light of SDGs.
Based on a database containing 73 publications in English with publication dates from 1990 to 2019, a bib-
liometric analysis is conducted. The findings show that the innovation challenge involves ethical, social, eco-
nomic, and legal aspects. Thus, considering that the development potential of AI is linked to the UN 2030 Agenda
for SD, especially to SDG#12, our results also outline the framework of the existing literature on AI and SDGs,
especially SDG#12, including AI’s association with the cultural drift (CD) in the SBMs. The paper highlights the
key contributions, which are: i) a comprehensive review of the key underlying relationship between AI and
SBMs, offering a holistic view as needed, ii) identifying a research gap regarding KMS through AI, and iii) the
implications of AI concerning SDG#12. Academic and managerial implications are also discussed regarding KMS
in the SBMs, where the AI can represent the vehicle to meet the SDGs allowing for the identification of the
cultural change required by enterprises to achieve sustainable goals. Thus, business companies, academic re-
search practitioners, and state policy should focus on the further development of the use of AI in SBMs.

1. Introduction
In the last fifty years, the topic of Artificial Intelligence (AI) has
received renewed attention from academic scholars. The Dartmouth
Research Project defined AI as the problem of “making a machine be-
have in ways that would be termed intelligent if a human being be-
haved like this” (McCarthy et al., 1955).1 Therefore, AI has to be un-
derstood as the ability of a system to act intelligently and to do so in
ever wider regions (Nilsson, 1983), correctly interpreting external data
and using these teachings to attain specific objectives and activities by a
flexible configuration (Kaplan & Haenlein, 2019). In this sense, the AI is
a different concept from the Internet of Things (IoT) and Big Data, al-
beit connected. The IoT allows the acquisition of external data to be
used as input for AI, while Big Data includes data collected by any
means (Kaplan, 2012; Kaplan & Haenlein, 2016). Furthermore, in-
telligent systems can faithfully reproduce human behaviours, “which
have cognitive, emotional and social intelligence” (Haenlein & Kaplan,
2019, p. 6).
In the same way, AI and machine learning are available in several
ways (Brynjolfsson & Mcafee, 2017). Still, the aim is to provide and
manage intelligent products, services and experiences through the
sharing of information for cooperation or creation of optimal and sus-
tainable value (Gretzel, Sigala, Xiang, & Koo, 2015). However, AI is still
in its infancy, and it is difficult to predict what will be the future of AI.
For a better understating and implementation of AI, the world must
consider AI requirements and expectations, i.e., enforcement, employ-
ment, ethics, education, entente and evolution (Kaplan and Haenlein,
2019a,b).

⁎
Corresponding author.
E-mail address: susy.divaio@uniparthenope.it (A. Di Vaio).
1
http://www-formal.stanford.edu/jmc/history/dartmouth/dartmouth.html

https://doi.org/10.1016/j.jbusres.2020.08.019
Received 13 January 2020; Received in revised form 6 August 2020; Accepted 10 August 2020
0148-2963/ © 2020 Elsevier Inc. All rights reserved.
A. Di Vaio, et al.
Thus, AI has not only changed the way to generate and use in-
formation for decision-making (Mikalef, Framnes, Danielsen, Krogstie,
& Olsen, 2017). AI has also revolutionised the ways of doing business
(Schneider & Leyer, 2019), influencing trade and management practices
in several sectors that offer increasingly competitive and sustainable
products or services (Govindan, Jafarian, & Nourbakhsh, 2019; Kuo &
Smith, 2018; Ding, Zhang, & Duygun, 2019; Garbuio & Lin, 2019; Tuan,
Thanh, & Le Tuan, 2019; Wirtz & Müller, 2019). Indeed, the interaction
between artificial technologies and human intelligence bases on algo-
rithms that should help managers make the right decisions, generating
a cultural drift in which a large number of data, connections and in-
teractions become part of the standard management of organisations
(Schneider & Leyer, 2019). These mathematical models simplify the
work of managers. They have well catalogued and organised informa-
tion sets, so much so that previous research has even shown that in
many situations, these models are more efficient than human decisions
(Kahneman, Rosenfield, Gandhi, & Blaser, 2016). Sousa and Rocha
(2019) proposed a model of skills need development – innovation,
leadership, and management – for disruptive business managers be-
cause AI has applications to business, i.e., intelligence processes.
In this context, Knowledge Management Systems (KMS) promote
the management of intelligent work (Johannessen, Olsen, & Olaisen,
1999) because they bring together human, organisational and techno-
logical factors in the process of creating value through the sharing of
knowledge (Tsui, Garner, & Staab, 2000; Hlupic, Pouloudi, & Rzevski,
2002; Thomas, Kellogg, & Erickson, 2001). KMS constitute the channel
for the formation of a corporate culture (Liebowitz, 2001) that exploits
AI for the improvement of operational processes and business models
(Hoeschl & Barcellos, 2006) through symbiotic cooperation between
man and machine (Miller, 2018).
This trend can help companies to find a connection between in-
novation and sustainability (Kuo & Smith, 2018) aimed at integrating
AI into decision-making processes as well (Duan, Edwards, & Dwivedi,
2019) for the achievement of the SDGs. The business sector is at the
centre of strategies for achieving the United Nations Sustainable De-
velopment Goals for 2030 because it drives the growth of the economy.
In fact, companies of any size or production specialisation can develop
more responsible business models, giving a decisive boost to the im-
plementation of Sustainable Development Goals (SDGs) through in-
vestments in technological innovation and multi-partnership involve-
ment. Innovation is the engine of business because through innovative
technologies, it is possible to implement sustainable models of pro-
duction and consumption, perfectly in line with the goals of the UN
2030 Agenda, in particular with the SDG#12 (responsible consumption
and production – ensure sustainable consumption and production pat-
terns)2. New social and environmental needs must integrate the stan-
dard of the company with neoclassical economic theory (Brenner &
Cochran, 1991; Key, 1999; Stormer, 2003), protection of the ecosystem
and people, and ensuring social equity (Stubbs & Cocklin, 2008). This
has led to the spread of sustainable business models in which sustain-
ability consists of balancing all three dimensions (economic, environ-
mental and social) that are “indissolubly connected and inter-
dependent” (Bansal, 2002, p. 123). Moreover, several authors have
shown that SDG outcomes depend on the interaction between human,
technical and natural systems (Nilsson, Griggs, & Visbeck, 2016). With
this systematic literature review (SLR), we try to understand if and how
the introduction of AI contributes to SDGs. More precisely, we in-
vestigate the role that KMS should play in redesigning SBMs by fuelling
a cultural drift that considers AI not only as a result but above all as a
tool capable of redefining operational and decision-making processes to
create value. We try to bridge the literature gap by answering the fol-
lowing research questions:
2
https://sustainabledevelopment.un.org/sdg12.
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Journal of Business Research 121 (2020) 283–314
(i) What is the role of AI in the development of SBMs from the per-
spective of the SDGs, in particular the SDGs#12, through KMS?
(ii) How does AI for SBMs generate a cultural drift (CD) which, through
KMS, involves the company’s operational and decision-making
processes to create value?
To answers these questions, this paper examines the results
achieved in this academic field by employing a bibliometric analysis of
73 articles in English with publication dates from 1990 to 2019. This
study offers a comprehensive review of AI and SBMs through KMS lit-
erature in light of SDGs. The key contribution of this study is to provide
insights into the state of the art of AI and SBMs, as well as future re-
search directions. According to Boobier (2018), there might not be a
problem conceptualising or crystallising what can be done with AI;
however, how AI can be effectively and sensibly deployed may be
problematic. The main objective of the paper is to examine the role of
Artificial Intelligence (AI) in creating sustainable business models
(SBMs). The main motivation is to conceptualise the role of AI in the
development of SBMs from the perspective of the SDGs using KMS.
First, there have been recent updates to the UN 2030 Agenda for SD,
especially to SDG#12 that discusses artificial intelligence in current and
future trends in business, including its association with the cultural drift
(CD) in the SBMs. Second, the role of AI in SBMs internationally is a
permanently hot topic among governments, practitioners, politicians
and academics. It is worth discussing developing and testing the role of
AI in SBMs through KMS. Finally, there are rare studies on this topic in
academic literature. This study intends to help practitioners and pol-
icymakers in understanding the importance of AI in SBMs.
In addition, this paper is one of the pioneers that discusses the role
of AI in SBMs. Although the study on the relationship between AI and
SBMs is not new, few studies document the role of AI and SBMs through
KMS, particularly in light of SDGs. Thus, this paper contributes to the
literature by providing valuable insights into AI and SBMs. Findings
reveal that the existing literature covers only some aspects involved in
sustainable development through AI, especially achieving high sus-
tainability standards by introducing advanced AI technologies to im-
prove the technical-scientific quality of the production systems.
The rest of this paper is structured as follows. Section 2 provides a
framework for AI in the SDG perspective. Section 3 introduces a theo-
retical framework for AI and SBMs through KMS. Section 4 describes
the method used to conduct the research and the software used for data
analysis. Section 5 presents the results, and Section 6 the discussion.
Finally, Section 7 puts forward the conclusions and limitations of the
study, revealing practical and theoretical insights obtained.
2. Contextual framework for AI in the SDGs perspective
The emergence of AI and the potential for its development in the
different sectors of society determine the evaluation of its effects on
sustainable development (Vinuesa et al., 2019). This is because com-
panies are increasingly required to face the challenge of sustainability
by trying to improve the scope of innovations to preserve the integrity
of the ecosystem and improve the use of natural resources (Joyce &
Paquin, 2016).
The Oxford Dictionary defines sustainability as “avoiding the deple-
tion of natural resources to maintain an ecological balance”. To achieve
sustainable development, it is essential to harmonise three fundamental
elements: profit, social protection and environmental respect. These
elements cannot be separated but are dependent on each other for en-
suring the well-being of individuals and societies.
In the past, countries adopted the UN 2030 Agenda for sustainable
development and its 17 SDGs in 2015. The SDG objectives indicate
global priorities for 2030 and establish an action program for people,
the planet, prosperity and peace (de Paula Arruda Filho, 2017).
The goals are addressed to multiple classes of actors and institu-
tions, organisations and civil society; besides, they are intended to
A. Di Vaio, et al.
boost the business world. The era of SDGs establishes the new sus-
tainable development strategy for companies. A robust and proactive
approach is required in the creation of responsible organisations, which
also invest in technological development through partnership actions
with other companies, to start a global and universal sequence of sus-
tainable development for all companies.
Furthermore, the key element for business is represented by in-
novation, which must concern not only the finished product but also
involve all the business processes through innovative technologies and
new sustainable solutions in line with the SDGs. Therefore, the SDG#12
is aimed precisely at businesses and aims to guarantee sustainable
models of production and consumption, promoting an efficient and
responsible approach to natural resources, to “do more and better with
less”. In this context, AI plays a decisive role in allowing new tech-
nologies to improve efficiency and productivity (Vinuesa et al., 2019)
through technological improvements that can overcome some current
limitations.
According to Vinuesa and colleagues (2019), AI can have a positive
impact on all SDGs through technological innovations that lead to
better results in different sectors, improving development and having
significant effects on civil society and the environment. But these effects
can also be negative, considering that some aspects of AI, if not ad-
dressed, can inhibit the achievement of different objectives. First of all,
the vast wealth that AI can generate could go mainly to those who are
already well-off and educated, leaving all others behind. This could also
lead to disparities due to unevenly distributed education and resources
around the world. Other issues involve enterprises more because they
are related to the lack of robust research methods to assess the long-
term impact of AI, and there are privacy issues associated with the
intensity of AI application data (Sachs et al., 2019). Many of these as-
pects still need a response from governments, even before international
organisations are called upon to ensure the protection of progress
without compromising the equality and well-being of all individuals
(Sachs et al., 2019).
3. Theoretical framework for AI and SBMs through KMS
Starting from the business model, sustainable change can be en-
couraged through the renewal of the corporate purpose and organisa-
tion, oriented by innovation strategies that push towards the creation of
long-term value (Bocken, Short, Rana, & Evans, 2014). A business
model (BM) provides a “concise representation of how a related set of
decision variables in the areas of business strategy, architecture and
economics are addressed to create a sustainable competitive advantage
in defined markets” (Morris, Schindehutte, & Allen, 2005, p. 727). A
BM draws the boundaries of the operational and physical structure of
the company (Osterwalder, Pigneur, & Tucci, 2005), presaging the
consequences of corporate operations in the system architecture, en-
couraging sustainable choices through innovative strategies for the
creation of value (Zilahy, 2016). The BM is connected to the corporate
strategy, but these are distinct concepts because the former looks at the
company as a system and describes its functioning. In contrast, the
strategy involves the executive processes, the execution and the im-
plementation (Osterwalder et al., 2005). Several theoretical approaches
have tried to explain the evolution of the BM, as illustrated in Fig. 1.
The approach based on the company’s resources maintains that the
resources linked to physical, human and organisational capital de-
termine the competitive advantage when they are integrated into the
company operations in an unusual and inimitable way (Barney, 1991).
In comparison, the theory of transaction costs investigates its re-
lationship with the BM, claiming that the use of modern information
technologies favours the reduction of costs in some transactions and the
integration of new resources (Coase, 1960). Technological develop-
ment, in its various applications, can affect business management,
creating the conditions for reducing costs and increasing value, com-
bining profit and sustainability (Dirican, 2015). Thus, technological
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Journal of Business Research 121 (2020) 283–314
innovation can facilitate a systemic outreach perspective that includes
the need for collaboration and education for SBMs (Bocken et al.,
2014). SBMs unite economic, social and environmental value according
to a multi-stakeholder approach, which is based on maximising the
advantages linked to the company’s activity for society and the en-
vironment (Lenssen et al., 2013).
In this regard, according to the theory of contingency, it is necessary
to encourage alignment between business management and the external
environment (Venkatraman & Prescott, 1990), favouring digitisation
paths – focused on machine learning and the management of large
amounts of data – capable of align business models towards sustainable
goals (Brenner, 2018). In this scenario, companies are called to im-
plement knowledge management systems capable of exploiting human
resources to obtain a competitive advantage through AI (Tsui et al.,
2000). In more detail, according to the innovation theory, KMS has
been suggested as a tool for the management of intelligent work
(Johannessen et al., 1999) because it favours the collaborative acqui-
sition of information and the sharing of knowledge (Tsui et al., 2000).
KMS accompanies the adaptation of companies to technological change,
bringing together human, organisational and technological factors in
the process of value creation (Hlupic et al., 2002; Thomas et al., 2001).
In trying to exploit the internal and external knowledge of organisa-
tions, AI encourages new techniques of knowledge acquisition and re-
presentation, improving managers’ awareness that KMS is the sub-
stratum of corporate company and culture (Liebowitz, 2001). In this
way, AI does not replace human resources but tries to imitate rational
thinking by improving the flow of management and data processing
through systems that exploit digital information (Hoeschl & Barcellos,
2006). Moreover, according to Miller (2018), “human beings and ma-
chines must work symbiotically to increase and improve each other’s
abilities”, generating a cultural drift that considers AI as a tool for in-
tegrating human reasoning and knowledge management (Duan et al.,
2019).
KMS should mainly be acquired in the organisational and business
strategy process and integrated with AI (Liao, 2003; Baskerville &
Dulipovici, 2006; Strandhagen et al., 2017) to improve the company’s
sustainable performance and problem-solving skills (Haseeb, Hussain,
Ślusarczyk, & Jermsittiparsert, 2019).
The use of AI in SBMs can support managers’ choices in decision-
making and management processes through the use of data to make
forecasts and reducing the cost of projections themselves, encouraging a
change in the culture and behaviour of organisations (Duan et al.,
2019).
4. Methodology
In this study, we conducted a systematic literature review (SLR).
SLR adopts a replicable, scientific and transparent process (Tranfield,
Denyerd & Smart, 2003). Compared to traditional narrative reviews,
SLR has the following advantages: i) higher quality of the review pro-
cess and outcomes (Danese, Manfe, & Romano, 2018; Leonidou,
Christofi, Vrontis, & Thrassou, 2018); ii) minimise bias and errors
(Dada, 2018); iii) more validity of the process because of the replic-
ability of the steps applied during the review process (Wang & Chugh,
2014); iv) SLR provides literature mapping of a specific research area
and data synthesis (Kauppi, Salmi, & You, 2018; Witell, Snyder,
Gustafsson, Fombelle, & Kristensson, 2016); and v) it offers a frame-
work that integrates existing knowledge to researchers and practi-
tioners (e.g. Dada, 2018; Nofal, Nicolaou, Symeonidou, & Shane, 2018).
Our methodology is divided into two research steps: the first in-
volves identifying, reading, and understanding significant documents;
and the second involves a bibliometric examination of the identified
articles. The initial process involves (1) extraction of articles from da-
tabases, (2) identification of relevant articles, (3) manual localisation of
highly cited articles and (4) identification of other influential articles.
Fig. 2 describes in detail the procedure for collecting and analysing data
A. Di Vaio, et al.
Fig. 1. Theoretical framework on AI and SBMs through KMS.
for each level of research to guarantee a reliable methodology.
In the first step, we started with the selection of the databases.
Following Fink (2019), the selection process concluded with the se-
lection of the ISI Web of Science (WoS) database. Indeed, WoS is one of
the most-used databases in socio-economic disciplines. Moreover, WoS
has content comparable in size to Scopus (Hicks & Wang, 2011), but it
has a standard format and requires less or no data-cleaning operations
(Zupic & Čater, 2015). During the process of extraction of articles, we
completed by manual research on Google Scholar (GS) through the
monitoring of citations of further relevant articles in high-ranking
quality journals (Rashman, Withers, & Hartley, 2009) to avoid ne-
glecting any important and relevant reference for our research
(Massaro, Dumay, & Guthrie, 2016). The selection of journals was made
based on relevance to the topics investigated. Therefore, journals are
known to receive documents on AI, sustainable development and
technological change were consulted, such as Journal of Knowledge
Management, Journal of Management Education, Business Strategy and the
Environment, Sustainability, Journal of Business Research and Business
Horizons (Okoli & Schabram, 2010).
To collect all the studies undertaken on AI and SBMs, we chose a
vast period for research – from 1990 (imposed by default by WoS) to
2019 (Table 1). In addition, to identify relevant contributions, we
launched several searches through truncated associations of two
groupings of search strings:
- Grouping 1: including all documents on AI and sustainability.
- Grouping 2: collecting all the contributions on AI and business
model.
The identification of the relevant articles was focused on these two
combined groups in order not to exclude interesting contributions
concerning the topic studied, but above all to highlight the potential
correlations between the results obtained in the two groups. This choice
allowed us to gather all the studies on AI in the field of sustainable
development (SD), without neglecting the effects of AI on business
models (BM). Indeed, AI is a constant reference in the search strings, as
it constitutes the core topic of our research from which analyses of the
relationships with SD and BM have been developed.
In the second step, we selected the relevant articles through a
content analysis carried out by a meticulous reading of the abstracts,
according to the guidelines of our research. In particular, we high-
lighted the correspondence of each article with the issues addressed in
our study.
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Journal of Business Research 121 (2020) 283–314
The analysis of the content allowed us to systematise the data in a
replicable way; hence, all the authors worked separately, analysing the
connection of each document with respect to the issues investigated;
after that, they compared their results. Indeed, the individual and
comparative method regarding results guaranteed greater reliability of
the research (Krippendorff, 1980). In the penultimate step, considering
that the WoS might neglect some documents sensitive to our analysis
framework, we conducted integrative research on GS according to the
same standards. Also, we considered GS for articles before 1990;
therefore, we verified that previous articles had considered the same
goals as our research.
The fourth and final phase is based on the independent work of each
author. They critically analysed each article to identify the aspects of
interest concerning the research issues. After excluding insignificant
articles and duplicates, all authors discussed their results and prepared
the various paragraphs of the SLR. The final list of works was composed
of 73 articles. The bibliometric analysis of these selected articles is
explained in Section 5.1.
5. Results
This section presents the results which are organised as follows: (1)
the bibliometric aspects of the selected articles; (2) the content of the
articles; and (3) the classification by secondary topic.
5.1. Bibliometric aspects of the selected articles
The selected articles were analysed on Bibliometrics to process
statistical and graphical testing clever enough to recap the research and
highlight the spatio-temporal aspects of the results obtained. Indeed,
bibliometric analysis allows one to perform a “transparent” and “re-
producible” SLR (Aria & Cuccurullo, 2017, pp. 959–960), providing
more reliable results in the systematic process of scientific information
on a topic, without the danger of neglecting past documents.
Fig. 3 presents the “WordCloud” of the abstracts and highlights the
most common words in the abstracts of the articles that are available in
databases. The size of words in the image solely depend on word oc-
currence in selected articles. As the figure shows, the keywords of our
study are AI and business model, located in the centre of the map. The
word “business” occurs 45 times in the articles of our collection, fol-
lowed by the word “model”, which appears 41 times. The words “ar-
tificial” and “intelligence” occur 36 and 33 times, respectively, in the
articles of our collection and were constant throughout the research
A. Di Vaio, et al. Journal of Business Research 121 (2020) 283–314

STEP 1 - EXTRACTION OF PAPERS FROM LIBRARY DATABASES

Document type: articles, proceedings paper, review

published on SCI-EXPANDED Indexed journals in
English
Timespan: 1990 (default WoS) up to 2019
Web of science categories: economics, business Articles with
finance, management, business, environmental selected Strings:
sciences, environmental studies, law
Search strategy: TOPIC by using truncated Group 1 Group 2
combinations of three groups of search strings
8 80
Group 1: “artificial intelligence”; AND “business
model” AND “sustainab*”.
Group 2: “artificial intelligence”; AND “business
model”.

STEP 2 - IDENTIFICATION OF RELEVANT ARTICLES

Identification process

Reading of abstract and full paper

Involvement of four authors
Inclusion criteria: if the aim of the paper was oriented
to investigate artificial intelligence and subsequently
impact the sustainable business model.

STEP 3 - MANUALLY TRACKING CITATIONS FOR ADDITIONAL RELEVANT ARTICLES

Sources:
Highly ranked management Description of Articles
and governance journals
Hand search and citation
tracking
Total 33

STEP 4 - IDENTIFICATION OF MOST INFLUENTIAL ARTICLES

Ranking of most cited papers
Measure: number of citations per
Description of Articles
year
Source: SSCI citation data files After eliminating not relevant
articles and duplicates
Period: 1990 – 2019
Total 73

Fig. 2. Summary research methodology.

period (ex multis Arinze, Kim, & Anandarajan, 1997; Cui & Wong,
2004; Min, 2010; Omoteso, 2012; Yoo & Kim, 2018; Govindan et al.,
2019; Wirtz & Müller, 2019; Barro & Davenport, 2019; Ding et al.,
2019; Schneider et al., 2019; Kaplan & Haenlein, 2019a). Next, the
words “neural” (24), “networks and systems” (16) and “decision and
data” (14) recur in most of the articles examined and are introduced in
Table 1 of the Appendix.
Based on the bibliometric analysis, we rebuilt the conceptual dia-
gram that expresses the degree of correlation between the keywords in
the database (Aria & Cuccurullo, 2017). Fig. 4 shows that the keywords
are pigeonholed according to a colour match. This conceptual diagram
facilitates the reading of the concepts and their connections, making the
analysis timelier (Liu, 2004). Fig. 4 shows the correspondence by
colour, which measures the index of recurrence of words in terms of
frequency, thus depicting the intertwining of the questions examined.
Regarding the correspondence by colour, it is interesting to note, ex
multis, that the words “model, cognition, big data, consumption, deci-
sions” have connections. So do the words “performance, determinants,
AI methods, competencies, business strategy, critical success factors” or
“integration, technology, agent-based framework, customer satisfac-
tion, circular economy”. This co-occurrence index demonstrates how
close the link is between AI and business models; AI is able to affect
business performance, ensuring customer satisfaction in the circular
economy.
During the period of study (from 1990 to 2019), the topic of in-
vestigation has increased since 2014, as evident from the dynamic
analysis of the main sources of the dataset (Fig. 5). This figure is in-
teresting with respect to the aims of our research because, in 2015, the
United Nations adopted the 2030 Agenda and its goals. Consequently,
such a surge, especially for the publications Sustainability, Business

287
A. Di Vaio, et al.
Table 1
Bibliometrix data collection and classification.
SR. No. Year Author
2019 GOVINDAN K; JAFARIAN A;
NOURBAKHSH V
2019 LARSSON, S., ANNEROTH,
M., FELLÄNDER, A.,
FELLÄNDER-TSAI, L.,
HEINTZ, F., & CEDERING
ÅNGSTRÖM
2019 LOPES DE SOUSA JABBOUR
AB, ROJAS LUIZ JV, ROJA
LUIZ O, CHIAPPETTA
JABBOUR CJ, NDUBISI NO,
CALDEIRA DE OLIVEIRA JH,
HORNEAUX FJ
Journal of Business Research 121 (2020) 283–314
Journal Article type Subtopic Aims & findings Methodology
Computers & Article Corporate Social Responsibility, This paper proposed a Quantitative study
Operations Research Swarm Intelligence Algorithms, distribution network model
Environmental Management, by incorporating the triple
Sustainable Supply Chain bottom lines of
Network sustainability. This study
showed the importance of
sustainability for business
operations. Besides, there
are rare studies with a
mathematical model that
quantify environmental
effects and social impacts
of supply chains. The
findings show that there
are different impacts of
networking of
stakeholders. i.e., workers,
consumers, company
owners, and society.
AI Sustainability Book AI, Sustainable AI Development This article examines Qualitative study:
Centre Artificial Intelligence (AI) Conceptual book
ethical, social and legal
aspects which are
incorporated and tested in
research studies. Besides,
this study also evaluates
the design and
implementation of AI
systems. Findings show
that there are negative
consequences, unintended
risks immersed during the
application of AI in society.
Journal of Cleaner Review Circular economy, This paper investigates and Qualitative study:
Production Sustainable Supply Chains, proposes conceptualisation Systematic
Sustainable Operations, Business for the adoption of circular Literature Review
Model economy (CE) business
models related to
operations management
(OM) decision-making
processes, i.e., production
planning and control,
product design, and
logistics/supply chains.
The findings reveals that
operations managers can
foresee the unfolding needs
for capacity building in CE.
Besides, researchers can
develop new research
themes based on the
findings of this paper.
Additionally, this is the first
unique paper to explain
how Knowledge can
support the transition
towards the circular
economy using the
dynamic capabilities
perspective.
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SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2019 METCALF L; ASKAY DA; California Article Artificial Intelligence, Collective This paper investigates how Qualitative study:
ROSENBERG LB Management Review Intelligence, Group Decision- artificial swarm Explorative study
Making, Artificial Swarm intelligence (ASI), a
Intelligence collaboration technology
tackles the limitations
associated with group
decision making, facilitates
better business decisions,
and amplifies the
intelligence of human
groups. The results present
how ASI usage in
businesses and how
individual participants
bring to groups and to
facilitate convergence upon
decisions. Thus, it helps for
better understanding of
Artificial Intelligence (AI)
to make business decisions.
2019 WIRTZ BW; MULLER WM Public Management Article Artificial Intelligence, Framework, This study discusses the Qualitative study:
Review Public Business Model conceptual propositions Conceptual study
about the usage of Artificial
Intelligence (AI) in public
management structures and
governments with regard to
risks and sides effects.
Author allegedly argued
that AI extends the limits of
analysis and current
performance in data
processing and analysis for
a significant improvement
in managing public data.
2019 BARRO S; DAVENPORT TH MIT Sloan Article Intelligence Technology; Human This paper discusses the Qualitative study:
Management Review Capital; Decisions adoption of intelligent Explorative study
technologies weather
essential for the survival of
companies. The success of
implementing the newest
technologies and
automation tools depend
on organisations how
innovatively changes their
operations, products and
services by considering
training of human capital.
Surveys show that most
senior executives believe AI
will substantially transform
their organisations within
the next few years, which
means humans will need to
find ways to work closely
with machines.
2019 DING SS; ZHANG YM; British Journal of Article Business; AI; Volatility The primary objective of Quantitative study
DUYGUN M Management this paper to investigate
how Artificial Intelligence
(AI) techniques can be
incorporated into the
volatility of commodity
prices model. The
outcomes of this study is a
new model - liq-garch –
which based on genetic
programming to forecast
volatility.
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Table 1 (continued)
SR. No. Year Author
2019 NOSRATABADI, S., MOSAVI,
A., SHAMSHIRBAND, S.,
KAZIMIERAS ZAVADSKAS,
E., RAKOTONIRAINY, A., &
CHAU, K. W.
2019 HUANG, M. H., RUST, R., &
MAKSIMOVIC, V.
2019 HAENLEIN, M., & KAPLAN,
A.
2019 HASEEB, M., HUSSAIN, H. I.,
ŚLUSARCZYK, B., &
JERMSITTIPARSERT, K.
2019 DUAN, Y., EDWARDS, J. S., &
DWIVEDI, Y. K.
Journal of Business Research 121 (2020) 283–314
Journal Article type Subtopic Aims & findings Methodology
Sustainability Review Sustainability, Sustainable This study investigates the Qualitative study
Article Development, Business Model, issues of sustainable
Sustainable Business Model business models in various
areas using a
comprehensive review. The
findings show that
sustainable business
models application and
their success rate in all
domains have been
increased as advanced
technologies introduced.
This study concludes SBMs
classified in fourteen
unique categories further.
California Article FeelingIntelligence, Artificial This study explores Qualitative study
Management Review Intelligence, Management, “Feeling Economy” with
Human-Machine Collaboration regard to AI, as AI performs
several analytical tasks,
which results in
interpersonal and
empathetic tasks by human
workers. This study
concludes that managers
must adopt the nature of
jobs as AI performs several
tasks. Thus, human workers
should take prominence on
the emotional and
empathetic dimensions of
their work.
California Article Artificial Intelligence, Big Data, This article summaries Qualitative study
Management Review Machine-BasedLearning seven past published
articles in area Artificial
Intelligence (AI) and the
business world. These
articles argued about AI on
micro-, meso-, and macro-
perspectives. AI and its
implications required
regulation with respect to
employment.
Social Sciences Article Big Data, Business Performance, This paper investigates the Quantitative study
IoT, Industry 4.0 role of Industry 4.0 for
sustainable business
performance among
Thailand SMEs. Results
showed that that Industry
4.0 is important for the
growth of sustainable
business performance
among Thailand SMEs.
Numerous aspects, e.g., big
data and smart factory and
., the Internet of Things
have a significant and
positive impact on
information technology
(IT) implementation, which
leads to sustainable
business performance.
International Journal Article Cognitive Computing, Artificial This study examines the AI- Qualitative study
of Information Intelligence, based systems for decision
Management Decision Making, Big Data, making usage and its
Expert System impact on decision making
and offers comprehensive
propositions for
information systems. AI is
rapidly expanding, and AI
support or replace human
decision-makers. Future
research should base on AI
implementation and AI for
decision making in the era
of Big Data.
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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2019 KAPLAN A.M., HAENLEIN M. Business Horizons Article Big Data, Blockchain, Artificial This article investigates Qualitative study
Intelligence digital transformation
(macro perspective) in
businesses, stem changes in
technology and
digitisation, and at the
individual level tools and
concepts of digital
transformation. Besides,
this study concludes that
researchers should consider
the impact of digital
transformation beyond
business, i.e., public
administration,
government, universities,
and society at large.
2019 PIERONI, M. D. P., 22nd International Article Process Model, Business Models The objective of this study Qualitative study
MCALOONE, T., & PIGOSSO, Conference on and Considerations, Sustainability proposes a systemic process
D. Engineering Design and a holistic approach to
identifying requirements
for a successful business
model innovation for a
circular economy. The
proposed model base on
sixteen existing process
models, and these models
are classified in three-
stages (sense, seize,
transform) related to
dynamic capabilities view.
Besides, this study focused
on the processes and
procedures (behaviour and
learning skills) that
required in circular
economy thinking of
business model innovation.
Hence, decision-making
activities and procedures to
integrate sustainability.
2019 TAMBE, P., CAPPELLI, P., & California Article Human Resources Management, This study aims to identify Qualitative study
YAKUBOVICH, V.. Management Review Artificial Intelligence four challenges by HR tasks
based on data science
techniques, which involve
constraints imposed by
small data sets, the
complexity of HR
phenomena, accountability
questions (ethical and legal
constraints), and employee
reactions to management
decisions. The findings
conclude with practical
responses to these
challenges.
2019 ŽIGIENĖ, G., RYBAKOVAS, E., Sustainability Article Risk Management Framework, This paper proposed a Qualitative study
& ALZBUTAS, R. Artificial Intelligence conceptual framework of
artificial intelligence which
is based on management
solution and economic risk
assessment. The findings
show that artificial
intelligence or cognitive
analysis create integration
between complex, large-
scale data. The use of
artificial intelligence is
influencing the computer
computation capacity and
data storage, and data
processing for commercial
processes based on
identifying risk factors.
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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2019 SCHNEIDER S; LEYER M Managerial and Article AI, Business, Technological Artificial Intelligence is Quantitative study:
Decision Economics Innovations transforming business Experimental study
practices and changing the
adoption of technological
innovations and strategic
decision-making process.
This study employed an
experimental technique to
study this adoption model.
2019 TUAN MND; THANH NN; Technological Article Healthcare Industry, Internet of The most challenging Qualitative study:
TUAN LL Forecasting and Things, Startup problems in the healthcare Explorative study
Social change industry are big patient
data, hospital and
laboratory information
systems and medical
equipment and
instruments. The trend of
IoT technologies (big data
and artificial intelligence)
is getting significant
attraction in business
communities. This paper
investigates how IoT and
big data can improve the
business models of
prognostic analysis data
service providers.
2019 GARBUIO M; LIN N California Article Health care, Artificial Medical entrepreneurs are Qualitative study:
Management Review Intelligence, Business Models, offering dramatically Explorative study
Innovation solutions on how to
prevent, diagnose, and cure
health conditions by using
Artificial Intelligence (AI).
Thi paper demonstrates a
critical analysis of AI-
driven health care startups.
It identifies emerging
business model archetypes,
which can be used by
entrepreneurs to bring AI
solution in the market.
2019 KIM KJ; LEE K; AHN H Sustainability Article Financial Distress Prediction, For the financial Qualitative and
Support Vector Machines, institution, the financial Quantitative study:
Sustainability sustainability of the Conceptual paper
borrowers is crucial for
measuring and managing.
Thus, this paper develops a
useful corporate financial
distress prediction model to
gauge the accuracy of
financial distress prediction
models by employing a
variety of business
analytics methods, i.e.,
statistical and artificial
intelligence methods.
2019 KAPLAN A; HAENLEIN M Business Horizons Article Big Data, Internet of Things, Artificial Intelligence (AI) Qualitative study:
Artificial Intelligence refers to the system's ability Explorative study
to interpret external data
correctly. AI-is still a
surprisingly fuzzy concept
and numerous questions
being unanswered. This
paper investigates how AI
concepts IoT and big data,
however, this study
suggests that AI is not one
monolithic term but it
seems as a nuanced term.
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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2019 KWOK TAI CHUI, MILTIADIS Energies Article Artificial Intelligence, Energy, In Urban development, Qualitative and
D. LYTRAS , VISVIZI A Sustainability, Policy Making energy sustainability is one Quantitative study
of the main concerns in this
era. Besides, artificial
intelligence and cognitive
computing have developed
as catalysts between
designing and optimising
smart services' supply and
utilisation in urban space.
This article provide a
holistic view of pilot
systems and prototypes and
present what ways artificial
intelligence can offer
critical support in the
process of attaining energy
sustainability in smart
cities.
2018 JARRAHI, M. H. Business Horizons Article Artificial This paper highlights a Qualitative study
Intelligence,Organisational proactive and pragmatic
DecisionMaking,Human- perspective on how AI and
MachineSymbiosis humans can bring strength
to organisational decision-
making processes? The
main findings show that AI
(computational
information) can extend
humans cognition when a
specific situation is
complex, whereas humans
can present a more
intuitive and holistic
approach. Future studies
should base on AI systems
using the intention of
augmenting.
2018 MILLER, S. M. Asian Management Article Artificial Intelligence (AI) This paper investigates AI- Qualitative study
Insights enabled automation and
augmentation which are
related to management. In
addition, this paper also
shed light on insights by
assimilating humans with
smart machines and how AI
behaviour in companies
based on recent research
(AI applications and
managerial impacts).
Authors allegedly argued
that how humans and
machines are interacting
symbiotically to augment
and enhance each other's
capabilities in the
organisational
environment. The findings
show that new
human–machine symbiosis
will help to increase the
productivity o an
organisation.
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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2018 MADURAVOYAL, C. International Journal Article Artificial Intelligence, Human This paper investigates Qualitative study
of Pure and Applied Resource, AI, Recruitment, with all possibilities of how
Mathematics Training, Performance Artificial intelligence is
Management changing and supporting
the Human Resource
functions, i.e., talent
management, recruitment,
training, & retention.
Besides this study also tried
to address the future
impact on the HR
workforce by AI. Future
studies will be based on HR
and human–machine
collaboration.
2018 BRENNER, B. Sustainability Article Industry 4.0, Innovation This study designed a Qualitative study
Management, Business Model, multifaceted framework of
Sustainable, Digitization transformative sustainable
business models which
based on individual,
external environment, and
the organisation. However,
past studies have yet to
acknowledge the impact of
external dynamics, i.e.,
digitalisation fully. The
findings contribute to
sustainability, digital
technology, and business
models
2018 STONE, C. B., NEELY, A. R., & Management and Book Digital Technology This book chapter describes Qualitative study
LENGNICK-HALL, M. L. technological Chapter the current digital
challenges in the technology trend in HRM,
digital age i.e., big data among
organisations, HR analytics
in organisations, and
artificial intelligence.
Besides this paper also
explained the concepts and
jargon in this field. This
study demonstrates the
introduction of this field
and the potential impact of
technology on HRM. What
are the challenges HRM
faced by these changing
trends in technology? HR
and HR professional will
change in future due to
these rapidly changing
technologies.
2018 JIA, Q., GUO, Y., LI, R., LI, Y., International Conceptual Human Resource Management This paper conceptualises a Qualitative study
& CHEN, Y. Conference on Article (HRM), Artificial Intelligence (AI) framework of Artificial
Electronic Business Intelligence (AI)
technology application in
the area of human resource
management (HRM). This
study employed basic
dimensions of human
resource management
based on theories, i.e.,
recruitment, human
resource strategy, human
planning training and
development (T&D)
process, employee
relationship management,
and performance
management, salary
evaluation with AI
technology application.
Thus, this model provides a
solid platform for the
development of AI in HRM.
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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2018 WRIGHT SA; SCHULTZ AE Business Horizons Article Artificial Intelligence, Artificial intelligence, Qualitative study:
Automation, Business Ethics, robotics machine learning, Explorative study
Stakeholder Theory and sensors modern
advancement help
machines to automate
activities, which are
considered seemed safe
from higher-level thinking,
learning, tacit judgment,
emotion-sensing, and even
disease detection. This
paper evaluates the cultural
and ethical implications of
business automation with
the perspective of
stakeholders.
2018 KUO TC; SMITH S Journal of Cleaner Review Eco-innovation, Sustainability, In the advancement of Qualitative study:
Production Technology technology, eco-innovation Systematic
has described an effective Literature Review
mechanism and solution to
help enterprises how to
reduce negative
environmental impacts.
There is a lack of studies on
the evolution of
technologies involving eco-
innovation integrated and
systematically. Thus, it is
worthy of conducting a
systematic literature
review—this review based
on recent technologies in
eco-innovation.
2018 YOO SK; KIM BY Sustainability Article Decision-Making, Cloud In the recent era, Quantitative study
Computing, Big Data, System businesses are using new
Adoption information and
communication
technologies, big data, and
artificial intelligence,
which lead to sustainable
developments and help
owners to improve business
competitiveness. This
paper determines critical
variables in a hierarchical
structure of decision areas
based on a decision-making
model (cloud computing
system). This paper-based
on technology,
organisation, and
environment with (seven
factors and 23 attributes)
that based on decision
factors of cloud computing
adoption by DELPHI
analysis and AHP (analytic
hierarchy process).
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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2018 KLUMPP M International Journal Article Automation in Logistics, Human- As digitalisation is Qualitative
of Logistics-research Artificial Performance Analysis, becoming a need for every study:Explorative
and Applications Human-Machine Interaction type of industry, study
specifically, the logistics
industry has a new level of
challenge for the analysis
and design of
human–machine
interaction concepts. This
study investigates about
lack of workforce skilled
toward the latest
technologies. How to
distinguish between more
or less performing human-
artificial collaboration
systems and outcome of
this study a multi-
dimensional conceptual
framework.
2018 ERIK BRYNJOLFSSON AND Harvard Business Article AI; Business, Technology In this digitalisation era, AI Qualitative study:
ANDREW MCAFEE Review has a transformational Conceptual paper
impact on the business
world. This paper
investigates AI impact
magnified in different
industries, i.e., health care,
law, manufacturing,
retailing, advertising,
insurance, entertainment
and education etc.
transform their business
models to make the most of
machine learning.
2017 CHELLIAH, J. Human Resource Article Machine Learning, Artificial This opinion paper also Qualitative study
Management Intelligence, explains the importance of
International Digest Human Resource Artificial Intelligence (AI)
in human resource
management. The author
allegedly argued that
Artificial Intelligence (AI)
would demise of white-
collar jobs, and the role of
HR's will change as well. AI
developments increasingly
rapidly, and it will change
the entire business world.
2017 STEVEEVANS, Business Strategy and Article Sustainable Business Models, In recent literature, Qualitative study:
VLADIMIROVA D, MARIA the Environment Business Models, Business Model business model innovation Theoretical study
HOLGADO, VANFOSSEN K, Innovation, Sustainable Value has got severe attention bt
MIYINGYANG, SILVA EA Creation, Sustainability researchers and industry
BARLOW CY Innovation experts. As business models
changes, there is a chance
for innovations for
sustainability. Though, less
Knowledge about the
successful adoption of
sustainable business
models (SBMS). The study
aims to develop a
theoretical perspective for
better understanding
business model innovations
which lead to high,
environmental,
organisational economic
and social performance.
2017 NORMAN DE PAULA The International Article Responsible Management This paper examines how Qualitative study:
ARRUDA FILHO Journal of Education,2030 Agenda to implement the UN 2030 case study
Management Agenda for sustainable
Education development schools’
curricula and the PRME
bases on the methodology
developed by Brazilian
business school (ISAE).
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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2017 CHOY KL; HO GTS; LEE CKH; International Journal Article Product Development, Sustainable This paper investigates Qualitative study:
LAM HY; CHENG SWY; SIU of Production Consumption, Operations about the sustainable Explorative study
PKY; PANG GKH; TANG V; Economics Strategy, Sustainable Production consumption and
LEE JCH; TSANG YP production of the chemical
industry as there is a severe
public concern on
environmental and safety
problems. This study
proposed a recursive
operations strategy (ROS)
model for sustainable
production and
consumption among the
chemical industry.
2016 ZILAHY, G. Vezetéstudomány- Article Innovative Business Model, This paper investigates Qualitative study
Budapest Corporate Sustainability, about two theoretical
Management Review Industrial Ecology approaches, i.e., the
resource-based view of the
firm and transaction cost
theory with regard to
business for sustainable
development. This research
also demonstrates that two
theoretical approaches are
a complement for
explaining corporate
behaviour.
2016 MASSARO, M., DUMAY, J., & Accounting, Auditing Review Structured Literature Review, This paper based on Qualitative study
GUTHRIE, J. & Accountability Article Business Intelligence systematic literature
Journal review among accounting
studies and business
intelligence. There are
more contemporary studies
required in terms of usage
of business intelligence
tools among organisations.
2016 BUZKO, I., DYACHENKO, Y., Computer Modelling Article Human Resource Development This paper emphasised on Quantitative study
PETROVA, M., NENKOV, N., and New (HRD), Artificial Intelligence (AI) Artificial Intelligence in
TULENINOVA, D., & KOEVA, Technologies human intelligence
K. functioning. This paper
employed cognitive system
IBM Watson Analytics to
examine the performance
of the company (profit per
person, income, profit).
The findings show that
learning of artificial
intelligence boosts certain
and faster environmental
requirements.
2016 M.W. WAIBELA, L.P. Procedia Article Industry 4.0, Social This study examined the Qualitative study:
STEENKAMPA, N. Manufacturing Manufacturing, Smart Production industry 4.0 dynamics- Explorative study
MOLOKOA, G.A. Systems, Big Data Internet of based case studies on the
OOSTHUIZENA Things market, customers and
suppliers and as a
benchmark to discover
current trends. Findings
show that artificial
intelligence creates value
and change within the
business and the
community where a
operates.
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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2016 JOYCE A, PAQUIN LR Journal of Cleaner Article Business Models for The triple-layered business Qualitative study:
Production Sustainability, Sustainable model helps to explore Conceptual paper
Business Models, Triple Bottom sustainable business model
Line, Business Model Innovation innovation. This model
extends the original
business model by
introducing two new
layers; i) environmental, ii)
social tier. This article
describes the triple-layer
business model with its key
features by doing re-
analysis of the Nestle'
Nespresso business model.
This new model adds value
to sustainable business
model literature.
2015 ZUPIC, I., & ČATER, T. Organizational Review Co-Citation, Bibliographic This paper aims to develop Quantitative study
Research Methods Article Coupling, Science Mapping, a meaningful single-source
Bibliometrics reference for management
and organisation research
using bibliometric methods
of citation analysis. The
findings show that there is
a great potential for the
quantitative confirmation
of subjectively related to
business performance and
artificial intelligence
2015 DIRICAN, C. World Conference on Article Artificial Intelligence, Hologram, This paper aiming to Qualitative study
Technology, Business, Economics highlight and conceptualise
Innovation and the future of future of
Entrepreneurship robots, artificial
intelligence in business
perspectives. This study
concluded that rapidly
changing technologies
would have severe impacts
business world and as well
on countries and world
economics—for example,
Banking System, training,
coaching, accounting, taxes
etc. Artificial Intelligence
and Robotics may have a
negative impact on
businesses and economies.
2014 BOCKEN, N. M., SHORT, S. Journal of Cleaner Review Business Model Innovation, This paper investigates Qualitative study
W., RANA, P., & EVANS, S. Production Article Industrial Sustainability, corporate innovation and
Sustainable Consumption its impact on greater
sustainability. This paper
incorporates Sustainable
business models (SBM)
using a triple bottom line
approach. The findings
show that stakeholders of
companies are essential for
implementing corporate
innovation for
sustainability. This will
help organisations to create
competitive advantage.
Sustainable business model
archetypes were used that
may contribute to
strengthening the business
model for sustainability.
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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2013 LENSSEN, G., PAINTER, M., Corporate Article Business model, Sustainability, The main objective paper Qualitative study
IONESCU-SOMERS, A., Governance Business model Innovation, to examine how businesses
PICKARD, S., BOCKEN, N., Sustainable business model develop balanced social,
SHORT, S., & EVANS, S. environmental and
economic value
performance through
integrating sustainability.
The main findings revealed
that a novel value mapping
tool explains about
sustainable business
modelling, which based
four major stakeholder
groups (customer, network
actors, environment, and
society) and on three forms
of value (opportunity, the
value captured, and
missed/destroyed or
wasted).
2013 ORRIOLS-PUIG A; Industrial Marketing Article Intelligent Systems, Management To be competitive in Quantitative study
MARTINEZ-LOPEZ FJ; Management Support contemporary turbulent
CASILLAS J; LEE N environments, firms must
be capable of processing
huge amounts of
information and effectively
convert it into actionable
Knowledge. This is
particularly the case in the
marketing context, where
problems are also usually
highly complex,
unstructured and ill-
defined. This study
presents and implements a
novel intelligent system
that incorporates fuzzy
logic and genetic
algorithms to operate in an
unsupervised manner.
2012 OMOTESO K Expert Systems with Article IT-Audit; Artificial Intelligence, ICT-based decision aids are Qualitative study,
Applications Expert Systems, Decision currently making waves in Explorative study
the modern business world
simultaneously with
increased pressure on
auditors to play a role in
the governance and control
of corporate entities. This
paper aims to review the
main research efforts and
current debates on auditors'
use of Artificial intelligent
systems, to predict future
directions of research and
software development in
the area. The paper maps
the development process of
Artificial intelligent
systems in auditing in the
light of their identified
benefits and drawbacks.
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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2010 MIN H International Journal Article Artificial Intelligence, Supply Artificial Intelligence (AI) Qualitative study:
of Logistics-research Chain Management was introduced to develop Explorative study
and Applications and create a thinking
machine, so that is capable
of mimicking, learning, and
replacing human
intelligence. This paper
explores various sub-fields
of AI that are most suitable
for solving practical
problems relevant to SCM.
In so doing, this paper
reviews the record of
success in ai applications to
SCM and identifies the
most fruitful areas of SCM
in which to apply AI.
2009 HSIEH KL Expert Systems with Article Value Expansion, Value How to mine the useful Qualitative study:
Applications Prediction, Business Intelligent business intelligence (BI) Case study
via the value analysis of
customers will be an
important activity to
achieve a competitive
advantage for most
enterprises. As we have
known, the management
performance can be
enhanced by using an
expert system (ES) platform
to aid the necessary
decision-making. Hence,
this study will intend to
construct an es platform to
address the customer's
value analysis based on oil
Artificial Intelligence (AI)
technique.
2008 WENDY STUBBS AND CHRIS Organisation Article System Sustainability, Sustainable This article seeks to Qualitative study:
COCKLIN Environment Business Model develop a “sustainability Case study
business model” (SBM)—a
model where sustainability
concepts shape the driving
force of the firm and its
decision making. The SBM
is drawn from two case
studies of organisations
considered to be leaders in
operationalising
sustainability and is
informed by the ecological
modernisation perspective
of sustainability.
2006 BACCHI K; International Journal Article Global internet growth; Quantitative models Quantitative study
MUKHOPADHYAY S of Information Technology, AI explaining and forecasting
Technology & the growth of new
Decision Making technology like the internet
in global business
operation infrequently
appear in the literature.
This paper introduces two
Artificial Intelligence (AI)
models such as the neural
network and fuzzy
regression along with an
augmented diffusion model
to study and predict the
internet growth in several
OECD nations.
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SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2006 HOESCHL, H. C., & International Article Artificial Intelligence This paper investigates Qualitative study
BARCELLOS, V. Conference on andKnowledge Management about Artificial Intelligence
Artificial Intelligence (AI) and Knowledge
in Theory and Management (KM). The
Practice findings emphasised on the
interaction of the
Knowledge Management
with Artificial Intelligence,
which helps the
organisation to develop
filter tools that being a
leverage extract resulted
optimised of databases.
This study allegedly argued
that future studies should
employ artificial
intelligence knowledge
infrastructure, knowledge
architecture, and
knowledge discovery.
2006 BASKERVILLE, R., & Knowledge Article Knowledge Management, This paper has focused on Quantitative study
DULIPOVICI, A. Management Organizational Learning, the importance of
Research & Practice Knowledge Infrastructure, Knowledge management
Organisational Memory, and its emerging behaviour
Intellectual Capital in information systems. An
in-depth literature review
reveals KM is an integral
part of the organisation and
reveals new, i.e.,
knowledge economy,
knowledge equity,
knowledge alliance,
knowledge culture,
knowledge organisation,
and knowledge
infrastructure.
2005 OSTERWALDER, A., Communications of Article Business Models, Business Model The main objective of this Quantitative study
PIGNEUR, Y., & TUCCI, C. L. the association for Concept paper to clarify the concept
Information Systems of business models and
their roles and implications
in the area of Information
Systems domain. An in-
depth review of past studies
found the terminology or
ontology to explain a
business model and made
comparison these
terminologies with prior
studies. The findings show
that there are eight
propositions to describe the
business model concept
and Information Systems.
2005 MORRIS, M. Journal of Business Article Architecture; Business Model, This paper synthesis Qualitative study
SCHINDEHUTTE, M. ALLEN, Research Strategy, Model Dynamics literature related to firm
J. business models which
have received limited
attention and rare studies
from researchers. This
study concluded a six-
component of the business
model that helps for
characterising a business
model, regardless of
venture type.
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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2004 CUI G;WONG ML International Journal Article Methods, AI, Networks Innovative methods of Quantitative study
of Market Research Artificial Intelligence, such
as artificial neural
networks (ANNS), have
been increasingly adopted
to predict consumer
responses to direct
marketing. However,
appropriate learning
algorithms, evaluation
criteria, and validation
procedures are necessary
for the effective
implementation of neural
networks to provide
decision support to
managers. This study
compares the performance
of bayesian neural
networks with that of
logistic regression and the
backpropagation method in
modelling consumer
responses.
2003 LEE JH;PARK SC Expert Systems with Article Electronic Commerce, Process Recently, as the internet Quantitative study
Applications Transparency, Decision Support has become more widely
System used, electronic commerce
(EC) has emerged and has
developed a high-level
business environment. The
customer-centric EC model
is important for the success
of EC, and this study
presents a new customer-
centric EC model in make-
to-order (MTO)
semiconductor
manufacturing
environment. This study
proposed the EC model
providing the process
transparency of the
process.
2003 LIAO, S. H. Expert Systems with Review Knowledge Management, This paper employed Qualitative study:
Applications Article Knowledge Management literature review and Systematic
Technologies, Knowledge classification among Literature Review
Management Applications knowledge management
(KM) in order to explore
how KM technologies and
applications are classified.
The outcome of this study
to develop KM framework
and suggested future
studies for development for
knowledge management
technologies and
applications, i.e., KM with
expert orientation,
integration of quantitative
and qualitative methods,
(continued on next page)

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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2002 NEMATI, H. R., STEIGER, D. Decision Support Article Knowledge Management, This paper employed a Qualitative study:
M., IYER, L. S., & HERSCHEL, Systems Decision Support Systems, Data systematic literature Explorative study
R. T. Mining, Intelligent Analysis approach to extend the
existing Data Warehouse
(DW) model to new
knowledge warehouse
(KW) model. This proposed
model helpful capturing
and coding of Knowledge
which also enhances the
capability of an
organisation retrieval and
sharing of Knowledge. The
knowledge warehouse
provides a platform to
decision-maker with an
intelligent analysis
platform that enhances all
phases of Knowledge
among organisations.
2002 HLUPIC, V., POULOUDI, A., & Knowledge and Article Integrated Knowledge This study designed an Qualitative study:
RZEVSKI, G. Process Management Management, Business Process integrated framework of Explorative study
Management Knowlagent management
which based on
organisational ('soft'),
technical ('hard'), as well as
philosophical ('abstract')
concepts. The findings
show that knowledge
management (KM) is a
complex research area
which consists of
organisational issues by
culture and technical issues
related to knowledge
management tools. Thus,
future studies should
consider empirical or
theoretical perspectives,
which provide a
systematic, integrated,
interdisciplinary
perspective of knowledge
management.
2001 THOMAS, J. C., KELLOGG, W. IBM Systems Journal Article Knowledge and Intelligence, This paper designed the Qualitative study:
A., & ERICKSON, T. Knowledge Management Systems, framework of Knowledge Explorative study
Social Computing and Knowledge management with human
Socialisation cognition and social
context. The outcome of
this study allegedly argued
that it is essential for an
organisation to designing
knowledge management
system by considering the
human and social factors.
Thus, this study concluded
that two approaches to
designing socially informed
knowledge management
systems, knowledge
socialisation and social
computing. Besides, the
field of intelligence testing
is relevant to knowledge
management, and
intelligence is primarily
determined by culture.
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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

2001 LIEBOWITZ, J. Expert Systems with Article Knowledge Management, This paper focused on Qualitative study:
Applications Artificial Intelligence, Expert Knowledge management, Explorative study
Systems knowledge organisations
and the importance of
artificial towards the
success of an organisation
and that previous studies
and theories had
overlooked. The findings of
this study demonstrate that
knowledge management in
an organisation needs to
establish a mechanism to
accomplish advance
knowledge management,
i.e., Artificial Intelligence
(AI). Thus, AI techniques
are helpful to codify
Knowledge in the
knowledge management
systems.
2000 THOMAS, J. C., KELLOGG, W. IBM Systems Journal Editorial Artificial Intelligence and This note emphasis the Qualitative study:
A., & ERICKSON, T. Note Knowledge Management significance and role of Explorative study
Artificial Intelligence in
Knowledge Management.
There is very under-
explored research link
between Knowledge
Management and AI. Thus,
future research should
focus on knowledge fusion
processes and intelligent
indexing mechanisms for
organisational learning.
1999 ZHANG GQ; HU MY; European Journal of Article Artificial Intelligence, Neural This paper presents a Qualitative study:
PATUWO BE; INDRO DC Operational Research Networks general framework for Explorative study
understanding the role of
Artificial neural networks
(ANNS) in bankruptcy
prediction. The method of
cross-validation is used to
examine the between-
sample variation of neural
networks for bankruptcy
prediction.
1997 KLAUCK C; MULLER HJ International Journal Article Structured Business Process, Designing and managing a Quantitative study
of Production Process Relations company's specific
Economics landscape and its business
processes has been
identified as a great
challenge for several years.
Business processes are
highly dynamic and
distributed and can only
rarely be planned,
modelled and analysed
completely. This paper will
concentrate on the
introduction of such a
formal methodology to
describe business
processes, company
organisational structures
and information
technology structures in
one uniform formalism.
(continued on next page)

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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

1997 ARINZE B; KIM SL; Computers & Article AI, Methods This research describes the Quantitative study
ANANDARAJAN M Operations Research use of Artificial Intelligence
(AI) - based technique,
rule-based induction, to
improve forecasting
accuracy. By using training
sets of time series (and
their features), induced
rules were created to
predict the most
appropriate forecasting
method or combination of
methods for new time
series. The results of this
experiment, which appear
promising, are presented,
together with guidelines for
its practical application.
Potential benefits include
dramatic reductions in the
effort and cost of
forecasting; the provision
of an expert 'assistant' for
specialist forecasters; and
increases in forecasting
accuracy.
1995 FISH KE; BARNES JH; AIKEN Industrial Marketing Article AI, Networks Neural networks are a type Quantitative study
MW Management of artificial intelligence
computing that have
generated considerable
interest across many
disciplines during the past
few years. The authors
explore the potential of
artificial neural networks
in assisting industrial
marketers faced with a
segmentation problem by
comparing their
classification ability with
discriminant analysis and
logistic regression.
1995 LACHER RC; COATS PK; European Journal of Article Artificial Intelligence, Neural This paper demonstrates a Quantitative study
SHARMA SC; FANT LF Operational Research Network neural network applied to a
universal business problem:
the estimation of the future
fiscal health of a
corporation. The
commonly used accounting
and financial tool for such
classification and
prediction is a multiple
discriminant analysis
(MDA) of financial ratios.
1995 TAM KY; KIANG MY Management Science Article Neural Networks, Artificial This study proposed a Quantitative study
Intelligence, Bank Failure discriminant analysis in
Predictions business research using a
neural-net approach. This
is a nonlinear discriminant
function as a pattern of
connections between its
processing units. For
example, bank default data,
the neural-net method is
compared with a linear
classifier, logistic
regression, KNN, and ID3.
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Table 1 (continued)

SR. No. Year Author Journal Article type Subtopic Aims & findings Methodology

1992 GOUL M Expert Systems with Article Business Organisation, AI, This paper based on Quantitative study
Applications Computer Information System Artificial Intelligence (AI)
to investigate applications
in modern business
organisations. This paper
employed traditional
balance approaches with
innovative methodological
paradigms.
1991 BARNEY, J. Journal of Article Firm Performance, Sustainable This paper designed a Qualitative and
Management Competitive Advantage model with four empirical conceptual study
indicators for potential
organisations to create
sustained competitive
advantage for their
resources. These four
indicators are value,
sustainability, rareness,
and imitability. This model
is applicable to all business
organisation.
1990 VENKATRAMAN, N., & Strategic Article Environment and Strategy, This paper investigates Quantitative study
PRESCOTT, J. E. Management Journal Strategic Resource and Business using an alternate approach
Performance to determine a proposition
in favour of specifying
coalignment, such as
'profile deviation',
(strategic resource)
deployments adhere to an
'ideal profile'
organisational
environment. The
outcomes of this study that
a proposition of a positive
performance impact of
environment-strategy
coalignment.

Horizons, Computers & Operations Research and International Journal
of Logistic Research and Applications, would seem to point to close
correlations between technological development, AI and SDGs. The
peak of interest on the part of scholars is recorded in 2018.
Moreover, this interest has been registered more among American
authors, followed by Germany, China and Korea (Fig. 6). This may be
because the US represents one of the world’s major economic powers –
along with Germany, China and Korea – that are affected by programs
of technological development and AI.
Additionally, it is interesting to note that most of the studies con-
ducted on our topic took place in countries that are not part of the EU.
However, the presence of Germany and, to a lesser extent, Spain,

Fig. 3. “WordCloud” of the abstracts.

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Fig. 4. Color Word occurrence measure.

Denmark and the United Kingdom, as well as the European Community,
bodes well for an economic and cultural commitment to the issues of AI
and sustainable development.
5.2. Content of the selected articles
Following the various stages through which this study was carried
out, we obtained the following results from the bibliometric analysis
performed on 73 studies. Regarding the content of the articles, Table 1
in the Appendix shows a framework of analysis based on the following
categorisations: (a) year; (b) author; (c) journal; (d) article type; (e)
subtopic; (f) aims and findings; and (g) methodology.
The classification of the articles carried out with Table 1, through
the schematisation of the subtitles and a brief description of the purpose
of each article, revealed that most scholars had studied the implications
of technological development and artificial intelligence in general on
models of business (Lacher, Coats, Sharma, & Fant, 1995; Fish, Barnes,
& AikenAssistant, 1995; Arinze et al., 1997; Klauck & Müller, 1997;
Zhang, Hu, Patuwo, & Indro, 1999; Hsieh, 2009; Min, 2010; Govindan
et al., 2019; Schneider et al., 2019; Metcalf, Askay, & Rosenberg, 2019).

Fig. 5. Dynamic source analysis.

307
A. Di Vaio, et al.
Fig. 6. Authors production by country.
Some had instead studied in particular the implications that AI has for
SBMs, considering that sustainability has become a relevant issue in
commercial operations (Hsieh, 2009; Min, 2010; Yoo & Kim, 2018; de
Pádua Pieroni, McAloone, & Pigosso, 2019; de Sousa Jabbour et al.,
2019; Govindan et al., 2019; Metcalf et al., 2019; Schneider et al.,
2019).
Moreover, AI has a key influence on the development prerogatives
of companies in more and different sectors that are increasingly inter-
ested in combining profit with sustainability requirements. Thus, if
companies neglect the environmental or social effects, their reputation
and, consequently, their income could be negatively affected (Babu &
Mohan, 2018). Thus, AI represents a powerful tool for competitiveness
(Jackson, 2019); in terms of a long-term vision, it can contribute to
sustainable development, which puts man at the centre and puts tech-
nological progress at its service. According to Govindan et al. (2019),
many companies strive to identify and put into practice more sustain-
able solutions for supply chains. This is due also to the stimuli and
prerogatives of the interested parties, such as consumers, social activists
and non-governmental organisations, who require an increased com-
mitment to sustainable solutions on the part of the companies. Recal-
ling the lesson of Turing (1950), who said that “if a human being in-
teracts with another human being and a machine and is unable to
distinguish the machine from the human, then the machine is said to be
intelligent”, AI is based on advances in machine learning, value crea-
tion through the analysis of numerous series of data and the under-
standing of decision-makers, and improvement and acceleration of
decision-making (Hsieh, 2009; Min, 2010; Govindan et al., 2019;
Metcalf et al., 2019; Schneider et al., 2019). A growing body of research
shows that AI helps people make better decisions (Barro & Davenport,
2019; Wirtz & Müller, 2019; Schneider et al., 2019). Therefore, in the
perspective of sustainable development (de Sousa Jabbour et al., 2019),
it becomes fundamental for companies to identify the strategies that
would allow them to dominate their competitive sector and extract new
information from large sets of data that could be useful for making
decisions and management (Orriols-Puig, Martínez-López, Casillas, &
308
Journal of Business Research 121 (2020) 283–314
Lee, 2013).
Above all, according to Kuo and Smith (2018), most companies
considered the development of sustainable products as competitive
opportunities. However, many of them were unable to expand these
products on their own. Therefore, to create a sustainable business
model, they united all the members of the supply chain. Decisions re-
garding product implementation and supply chains are necessary for
determining a significant improvement in management. Changes in
technology support the creation of these optimised business models (de
Sousa Jabbour et al., 2019). Efforts to create adequate business models
have attracted much attention from scholars and practitioners. Still, in
all the models examined by scholars, there is no general framework for
instructing AI-based management systems that distribute roles, in-
dividuals, authority and decision-making responsibility without ne-
glecting the ethical implications connected to AI (Wirtz & Müller,
2019).
Most advances in AI technology have taken place in the private
sector, where risk management is quite important because it contributes
directly to value creation (Allayannis & Weston, 2001; Lewellen, 2006).
In particular, it has been shown (Ding et al., 2019) that AI could be
applied to forecasts of the volatility of raw material prices by exploiting
all the information available on the market.
Otherwise, there is little experimentation with the use of intelligent
administrative systems for the public sector (Wirtz and Müller, 2019).
The main reason for using AI in public sector organisations could be the
provision of public value (for example, to coordinate and meet service
demands) to citizens (Eggers, Fishman, & Kishnani, 2017). For instance,
in the health sector, which represents one of the main drivers of the
economy of each country, the most considerable difficulties lie in the
patients’ big data and hospital and laboratory information systems
(Wang, Kung, & Byrd, 2018). Therefore, several studies have in-
vestigated how new technologies can increase productivity in the
health system by improving decision-making processes through in-
formation management. Indeed, Tuan and colleagues (2019) have
shown that promoting the use of AI and Big Data in the Vietnamese
A. Di Vaio, et al.
health system (not yet digitalised) could provide high-level services.
Using intelligent systems, people would have the power to administer
their health through intelligent technologies and to receive specific
treatments through web content. People could also gain access to more
affordable health systems and even improve health outcomes (Hajli &
Featherman, 2018). In this way, AI could also revolutionise how health
professionals and managers collect information and treat requests from
patients and their families, as well as medical and service staff (Garbuio
& Lin, 2019). Indeed, health care services based on AI not only promote
the quality of service for the recipients of direct and indirect services
but also have to ensure an efficient cost plan for healthcare profes-
sionals. Sivarajah, Kamal, Irani, and Weerakkody (2017) highlighted
that Big Data offers both Big Opportunities (i.e., value creation) and Big
Challenges (i.e., data integration complexities, data security and
privacy issues). Also, current and past studies on Big Data have only
contributed conceptually and empirically to the expansion of Big Data
Analytics among organisational resource management and technology
disciplines. Hence, it is necessary to build business models that consider
the specificity of a context characterised by specific regulation and the
presence of numerous stakeholders (Chen, Wen, & Yang, 2014). AI is
encouraging new managerial approaches for performance analysis,
improving understanding of the market and user preferences, and op-
timising processes (Kaplan and Haenlein, 2019a). Recently, research
has also tried to make the financial distress forecasting models more
efficient by testing various business analysis overtures, including sta-
tistical methods and AI (Kim, Lee, & Ahn, 2019). An inaccurate credit
rating based on a forecast of inadequate financial difficulties can cause
an improper asset valuation, which threatens the financial sustain-
ability of a company. Therefore, Kim and colleagues (2019) suggested a
new type of hybrid model to improve the performance of the typical
algorithm for predicting financial distress.
Also interesting is the survey of AI analytical applications in the
universities, with significant consequences for faculty members and
students due to the simplification of teaching and learning (Kaplan &
Haenlein, 2019a). Indeed, studies on AI have also examined the pro-
blem of the displacement of human labour-power by machines
(Omoteso, 2012; Orriols-Puig et al., 2013; Wright & Schultz, 2018;
Klumpp, 2018; Kaplan & Haenlein, 2019a). The extensive capabilities
of AI combined with increasingly accurate data production lead us to
believe that the transition to artificial intelligence will also have sig-
nificant effects on the workforce because it will allow us to perform a
multitude of activities faster, better and at lower costs (Kaplan &
Haenlein, 2019a). In the same way, managers aware of the loss of
human resources will have to re-evaluate the skills and know-how of
the workers called to work alongside the machines (Huang, Rust, &
Maksimovic, 2019). This will require structuring KMS that allow the
expansion of the framework of individual knowledge with the im-
plications of AI, thus ensuring an adequate level of training for per-
sonnel capable of exploiting the potential of AI (Kaplan & Haenlein,
2020). However, the main concerns relate above all to the loss of jobs
for less qualified workers and the shift in the distribution of income
from labour to capital (Sachs et al., 2019). The use of computerised
techniques based on artificial intelligence seems to have substantial
utility for professionals searching for great methods to interrogate the
data sets to improve the marketing function of an organisation (Orriols-
Puig et al., 2013).
Indeed, AI can improve productivity in two ways: by automating
some activities previously performed by people; and by bringing the
systems to work and adapt to circumstances with increasingly reduced,
if not absent, human control3. Primarily, an architecture of integrated,
human and artificial knowledge can select and store huge amounts of
data from operating systems to offer answers on objectives, models and
relationships, creating a vortex of knowledge that includes man and
3
OECD, 2019: Artificial Intelligence in Society.
309
Journal of Business Research 121 (2020) 283–314
machine (Nemati, Steiger, Iyer, & Herschel, 2002).
The integration of AI into processes and corporate strategy has
changed the way organisations do business (Strandhagen et al., 2017),
revealing a renewed logic of creating value that influences corporate
culture by involving sustainability in the business model (Duan et al.,
2019). AI can cope with the changes required by social and environ-
mental issues related to corporate activity, directing the BM towards a
logic of value creation (Zilahy, 2016), which is founded on new forms
of governance based on sharing knowledge and skills (Buzko et al.,
2016).
Planning AI through KMS can contribute to the development of a
BM that generates opportunities for growth and well-being for all in-
dividuals in the context of a 5.0 Society “able to provide the goods and
services needed by the people who need them at the right time and in
the right amount; a society capable of responding with precision to the
most varied social needs; a society that can provide the goods and
services needed by those in need; a society in which all types of people
can get high-quality services, beyond any difference in age, sex, religion
and language, and live a vigorous and comfortable life”4.
6. Discussion and analysis of the results
Starting from the analysis of the results of our research, the progress
made around AI gives rise to the need to investigate not only the eco-
nomic but also the cultural and social implications of the use of in-
telligent systems. Most growing economies recognise the revolutionary
character of AI and have experimented with variable overtures that
consider their political, economic, cultural, and social systems, through
more or less important investments5.
The data management that is increasing seems to be the leading
reason for enterprises to implement an AI architecture. In this direction,
public and private organisations are engaged in a cultural change to
improve the reach, speed, and accuracy of information processing
(Wirtz & Müller, 2019). This is achieved by using mathematical algo-
rithms that facilitate learning or knowledge management software that
helps to allocate resources more efficiently and effectively. For public
entities, the goal is to manage the affairs of citizens with higher speed
and quality when facilitating access to public services (Min, 2010;
Wang et al., 2018; Wirtz & Müller, 2019; Tuan et al., 2019). For private
organisations, the use of AI is for identifying solutions to improve the
competitiveness of business (Govindan et al., 2019; Schneider et al.,
2019; Metcalf et al., 2019) and limit the negative effects on the en-
vironment (Kuo & Smith, 2018) while pursuing sustainable develop-
ment goals (Yoo & Kim, 2018; Govindan et al., 2019; Schneider et al.,
2019; Metcalf et al., 2019).
AI has the potential to address some of the most pressing challenges
for the future of humanity, such as the achievement of the SDGs
(McKinsey, 2018). SDGs represent common goals about several im-
portant development issues, including AI. However, health (SDG#3),
education (SDG#4) and resilient infrastructures (SDG#9) see a high
number of practices already in place (McKinsey, 2018; Vinuesa et al.,
2019).
Our study has shown that there is still a research gap concerning the
implications that AI may have for SDG#12. Hence, this goal encourages
enterprises, particularly large multinationals, to adopt sustainable
practices and to support developing countries in improving their sci-
entific and technological capabilities to create and implement more
sustainable models as well as production and consumption tools to
monitor the impacts of sustainable development. Businesses, true
4
The 5th Science and Technology Basic Plan, 22 January 2016, Government
of Japan, https://www8.cao.go.jp/cstp/english/basic/5thbasicplan.pdf
5
Communication from the Commission to the European Parliament, the
European Council, the Council, the European Economic and Social Committee
and the Committee of the regions, Brussels, 25.4.2018 COM (2018) 237 final.
A. Di Vaio, et al.
drivers of the world economy and development, can increase invest-
ments in AI and related technologies; support the adoption of digital
technologies based on AI in the production processes; strengthen the
educational offers at every level to bring AI to the workforce; and ex-
ploit the potential of the data economy, the real fuel for AI. In this way,
they can contribute to the new cultural drift (CD) that aims to combine
progress and socio-environmental well-being through the development
of KMS (Liebowitz, 2001; Buzko et al., 2016; Jia, Guo, Li, Li, & Chen,
2018; Haseeb et al., 2019). SDGs also represent support for the in-
stitutions and governments of each country called to decline and cali-
brate the objectives of the 2030 Agenda in the context of their eco-
nomic, social and environmental planning, with significant effects in
regulated sectors, including the AI sector. According to Barro &
Davenport (2019), the success of organisations will depend on their
ability to innovate operations, products and services through their
human capital.
On the other hand, competition between AI and HR is emerging
with respect to activities that can be automated, allowing workers to
engage in higher-profile tasks (Chelliah, 2017; Maduravoyal, 2018).
However, while the use of AI in public sectors such as healthcare has
experienced rapid growth, the literature on the application of AI in
companies through KMS is still scarce. Companies are unable to exploit
the potential of AI through knowledge sharing systems, which instead
help AI to penetrate the corporate culture, orienting the business
(Tambe et al., 2019). Indeed, even if AI will eliminate some jobs in the
next decade, it can open up vast new opportunities for collaboration
between man and machine. Then, the ability to adapt to change will be
determined by the ability to harness new knowledge through the
combination of KMS and AI (Stone, Neely, & Lengnick-Hall, 2018).
Some scholars have also examined the ethical and social aspects
related to the use of AI, noting that the evolution of company auto-
mation could accentuate the disparities between people in less and
more developed countries (Wright & Schultz, 2018). If political in-
stitutions do not intervene to reduce the distance between rich, tech-
nologically advanced countries and weaker, less developed economies,
technology is likely to contribute to growing inequality (Haenlein &
Kaplan, 2019).
6.1. A holistic comparison of our findings with other studies
Although sustainable business model research is a relatively new
field in management studies (Zott, Amit, & Massa, 2011), the main
findings show that numerous studies had focused on business model
innovation. Still, there is a lack of debate on the role of AI in the de-
velopment of SBMs from the perspective of SDGs. For example, there
has been broad scholarship on business model innovation in the last
decade (e.g., Demil & Lecocq, 2010; Johnson, 2010; Teece, 2010; Zott
et al., 2011; Žigienė, Rybakovas, & Alzbutas, 2019; Nosratabadi et al.,
2019). It can be argued that past studies focused only on business model
innovation. Nevertheless, organisations are not fully implementing new
business models with advanced technologies, i.e., AI, and this research
area is still unexplored (Nosratabadi et al., 2019; Foss & Saebi, 2017),
although some concepts and new definitions of AI and SBMs are re-
quired for successful market introduction (Boons & Lüdeke-Freund,
2013; Žigienė et al., 2019; Nosratabadi et al., 2019). In the literature,
there is even less research conducted on sustainable business model
innovation and other advanced technologies, and the concept of AI
remains underexplored (Boons & Lüdeke-Freund, 2013; Schaltegger,
Hansen, & Lüdeke-Freund, 2016; Žigienė et al., 2019; Nosratabadi
et al., 2019). After reviewing these recent studies, it may also be noted
that the role of AI in the development of SBMs from the perspective of
SDGs is currently not available in academic literature and not well
explored. Thus, these studies allowed authors to recognise the im-
portance and simultaneous exploration of AI in the development of
SBMs. As the number of studies increases every year, scholars and
companies could expect some convergences between AI and SBMs
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Journal of Business Research 121 (2020) 283–314
through KMS. The spread and effectiveness of AI in the SBM domain
have not been well investigated, and our findings shed light on the role
of AI in SBMs with the perspective of SDGs. In-depth investigations of
future AI trends in SBMs have not yet been discussed in the literature.
6.2. Theoretical and practical implications of the study
AI has been applied in numerous domains, and several terms are
used for AI-based systems, i.e., intelligent software agent systems, ex-
pert systems, intelligent executive systems, knowledge-based systems,
etc. Due to Big Data and Advanced Algorithms, AI has become more
popular today as an embedded element of digital systems. In summary,
AI has an impact on human decision making, and this has gotten con-
siderable attention from researchers who have investigated the im-
plications of AI for decision making. This SLR offered several useful
insights into the existing status of research into AI and SBMs. This paper
contributes to practice and academia in two ways. First, this paper
examines the role of AI in the development of SBMs from the per-
spective of the SDGs, in particular the SDGs#12, through KMS. Second,
this study sheds light on how AI for SBM generates a cultural drift (CD)
which, through KMS, involves the company’s operational and decision-
making processes to create value. Theoretically, this is one of the first
studies to discuss the role of AI in the development of SBMs from the
perspective of SDGs by employing bibliometric analysis and con-
tributing to the body of knowledge. This paper also opens a new dis-
cussion for researchers in the field of the fourth industrial revolution.
This paper extends the research stream on AI and SBMs by demon-
strating and analysing the key trends related to the challenges of SDGs.
From a practical perspective, the current paper is most significant
for organisations handling the role of AI technology-related issues of
SBMs through KMS under the umbrella of SDGs. This paper is valuable
for practitioners who deal with the role of AI for sustainable develop-
ment in a company. Notably, this paper helps organisations to under-
stand the impact of AI on SBMs, and companies may solve various is-
sues. This paper offers to the practice community, insights into the
plethora of AI and SBMs and into their application under SDGs. Thus,
the SLR insight presented will offer an opportunity for practitioners and
applied researchers to understand the role of AI for sustainable devel-
opment among companies. In the end, this study provides a general
framework for businesses in capturing the AI benefits and its implica-
tions in SBMs through KMS.
6.2.1. Guidelines for practitioners under UN 2030 agenda via AI
The blow are some guidelines for practitioners for the achievement
of the UN 2030 agenda via AI;
i. The precise definition of AI is needed and related terms of AI de-
velopment and its applications in the era of SBMs through KMS to
achieve SDGs.
ii. There is a need to develop and test theoretically, the use of AI and
its impact on decision making its benefits. This study outlined an
integrated conceptual framework for a systematic understanding
of AI for decision making through KMS and SBMs.
iii. AI can have several roles in decision making, but AI should be
accepted through cultural drift by human decision-makers as a
decision support tool.
iv. The ergonomic design of AI systems is essential for their success to
achieve SDGs.
v. AI systems performance for decision making can be improved by
machine learning.
vi. The success of AI is based on AI users’ personal traits and knowl-
edge and understanding of AI.
vii. There is a dire need to fully understand the synergy of AI and SBMs
and its implications for AI research and practice.
viii. Different cultures and personal values may affect the acceptance of
AI for decision making.
A. Di Vaio, et al.
ix. AI application for decision making may change the culture of or-
ganisations and individual behaviour.
x. AI and its impact on society can be controlled by the Government.
6.3. Policy recommendation
AI has rapid and effective, integration in various domains, which is
based on the policy design, implementation and monitoring of AI
strategies. This study emphasises on the AI and SBMs through KMS and
liveability and sustainability of AI among organisations. This study
proposes that policymaker’s dwell into one key dimension, which is
Cultural Drift first and foremost before the integration of technology.
The outcome of this study a new framework, which looks at how to
effectively integrate technology AI in SBMs while aligning AI help to
improve efficiency and productivity (Vinuesa et al., 2019) through
technological improvements. Governments and organisations need to
develop pragmatic strategies to educate AI within the workplace, and
the implementation of AI may provide the benefit to the UN SDGs di-
rectly and indirectly over time as AI technologies changes (Hughes
et al., 2019). Besides, the integration of AI within organisations and the
ethical considerations of the technology is important for the success of
SDGs (Sun & Medaglia, 2019). The latest technology has always been
challenging for organisations having minimal resources. This paper
recommends that AI become a result as well as the tool to achieve SBMs
in organisations. For better implementation of these technologies (AI
through KMS), a company has to develop a proper infrastructure and a
formal culture to support the new technology.
6.4. Limitations of the study
This paper provides valuable insights for practitioners and acade-
micians; however, this paper also has certain limitations because it is
limited to an exploratory investigation of the use of AI for SBMs
through KMS. Moreover, this paper is based on a systematic literature
review using 73 articles, which is one of the limitations, and there is a
possibility that the authors might have missed some items during article
screening. Another limitation is that this paper considers the SDG
perspective with regard to AI and SBMs. Lastly, no primary data was
employed to support the development of the research propositions.
6.5. Avenues for future research and recommendations
This paper employed a bibliometric analysis for systematic litera-
ture review. Therefore, it could be interesting to undertake quantitative
studies aimed at investigating the KMS practices adopted by organisa-
tions to understand how they can encourage the insertion of AI and
whether this produces new knowledge and generates value. Future re-
search should employ a mixed-method approach because interviews
with companies’ managers may lead to better results and under-
standing. Additionally, the outcomes of this paper should be applied to
small-scale companies. Future research should deliberate other ele-
ments of Industry 4.0, i.e., the cyber-physical system.
7. Concluding remarks
This paper presents a comprehensive review of AI in forming SBMs.
AI and SBMs is a relatively nascent field of research. The results indicate
that the literature focused on only some aspects involved in sustainable
development through AI. Yet, there are still several gaps about the
underpinnings linking these concepts. Less attention has been paid to
the guidelines established for companies by the UN 2030 Agenda,
which represents an imperative for all countries called to face the
challenge of the link between human health and the health of natural
systems. To achieve high sustainability standards, it is necessary to
improve the technical-scientific quality of the production systems.
In the last hundred years, technology and innovation have brought
311
Journal of Business Research 121 (2020) 283–314
huge improvements to our living conditions. And technological devel-
opment and innovation will be at the centre of the transition to a sus-
tainable future. Digital technologies can help create SBMs, increasing
productivity, reducing production costs and emissions, decreasing the
intensity of production process resources, improving correspondence in
the markets, and allowing the use of big data to make public services
more readily available (Sachs et al., 2019).
This can be done by integrating AI into the company’s decision-
making processes, aligning the human dimension with the artificial one
through the diffusion of KMS. The innovation theory suggests to prac-
titioners that the adaptation of companies to technological change
passes through the implementation of KMS, which can encourage the
sharing of internal and external knowledge for the creation of value.
The promotion of SBMs is not the only area to be addressed because
the evolution of disruptive technology such as AI has to be governed by
embracing an organic vision of cultural drift, on the process of orga-
nisational strategy and BM to avoid potentially harmful uses for man
and society as a whole. AI is enveloping our world and changing our
society. The way we manage the evolution of AI will impact our way of
life, giving us opportunities and benefits. But there is also a danger that
more technological companies will be less democratic. Therefore, the
EU must work in order to AI is applied with respect to the fundamental
values of civil society, as well as promote within the fundamental rights
of the Union as ethical principles such as responsibility and transpar-
ency.
At the global level, politicians, researchers and companies are
coming together to develop common principles that should ensure that
all AI technologies are applied responsibly. Governments need a
strategy to design and implement key interventions through regulatory
standards, physical infrastructures and digital systems capable of cap-
turing the benefits of the digital revolution for SDGs, while avoiding the
numerous potential pitfalls (Sachs et al., 2019). But above all, they have
to encourage knowledge management and sharing tools capable of
promoting dialogue between man and machine, involving decision-
making processes directly. In this way, AI becomes the tool to achieve
an SBM by enhancing the potential of man.
This comprehensive review provides a holistic view of that has been
done in AI and SBMs area, as well as a general framework, integrating
current research findings and offering several future directions. This
study outcome will encourage business academics to understand the
importance of AI rich data that lie in the dusty volumes of existing and
motivate them to investigate further and to be advanced knowledge in
this research domain. Thus, this study helps to develop a higher level of
awareness about company’s strategies to adopt AI through KMS to
achieve the SDGs and to respond to the challenges of the market.
Therefore, scholars, professionals and institutions must join in this ef-
fort towards sustainability by continuing to investigate the phenom-
enon and implementing a public–private partnership network to an-
ticipate and manage the profound social changes connected to the
digital revolution. Furthermore, it could be interesting to analyse the
results achieved in terms of sustainability in business models, taking
into account the critical and success factors in the various economic
sectors and national infrastructures. Nevertheless, and above all, public
awareness campaigns and activism should be mobilised to explain the
ethics of sustainable development and promote community participa-
tion because the success of any transformation never comes only from
above.
Declaration of Competing Interest
The authors declare that they have no known competing financial
interests or personal relationships that could have appeared to influ-
ence the work reported in this paper.
A. Di Vaio, et al.
Acknowledgements
The authors would like to thank the editors and anonymous referees
for providing helpful comments and suggestions which led to an im-
provement of the paper.
Funding
This research has been funded by Department of Law, number
002158, University of Naples “Parthenope” (Italy).
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Assunta Di Vaio, Ph.D., is an Associate Professor of Business Administration at
University of Naples Parthenope, Italy. She is qualified as Full Professor in the same
scientific field. She teaches Business Administration, Human Resource Management,
Measurement and Reporting; Sustainable Reporting; Corporate Governance of Maritime
companies; Governance of Port Systems. Her research fields include managerial ac-
counting and management information for the decision-making processes in the public
and private sector; performance measurement; sustainable accounting; non-financial
disclosure; human resources disclosure; intellectual capital and sustainable business
models; sustainable development and UN 2030 Agenda; digital transformation, Artificial
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Intelligence and Blockchain technology. Her research has been published in various
prestigious journals (e.g., Journal of Cleaner Production, Journal of Intellectual Capital,
International Journal of Information Management, Energy Policy, Utility Policy, Maritime
Policy & Management, and so forth). She is editorial board member of international
Journals. She is a peer reviewer for international Journals edited by Elsevier, Emerald,
Taylor & Francis, MDPI, Springer. She regularly participates as speaker at many
International Conferences on port and maritime issues. She is member of the International
Steering Commitee of these Conferences. She has been an associate member of UCL
Quantitative and Applied Spatial Economic Research Laboratory (QASER) at University
College London (UK). Currently, she is Deputy-Director of the Department of Law at
University of Naples “Parthenope”.
Rosa Palladino, is PhD Student in Law and economic-social institutions: regulatory,
organizational and historical-evolutionary profiles at the University of Naples
“Parthenope” (Italy). Her research fields include corporate governance, sustainable
human resource management, non-financial information, sustainable accounting and
reporting. She is has high knowledge about SLR. She regularly attends seminars and
conferences on these issues. Her research has been published in international books and
journals (e.g., Journal of Intellectual Capital, Journal of Cleaner Production,
Meditari Accountancy Research).
Dr. Rohail Hassan, is Senior Lecturer of Corporate Governance and Finance at Othman
Yeop Abdullah Graduate School of Business (OYAGSB), Universiti Utara Malaysia. Rohail
received his undergraduate education in Management Sciences at University of The
Punjab in 2010; at the same University, he earned his Master of Philosophy degree in
2012, and Doctor of Philosophy in Management with a concentration on Corporate
Governance/Board Diversity in 2019 from Universiti Teknologi PETRONAS in Malaysia.
He secured a fully-funded scholarship by Universiti Teknologi PETRONAS, Malaysia for
his Ph.D. studies. His research on corporate governance, women empowerment, gender-
related issues, diversity and Inclusion, gender diversity, diversity management, boards of
directors, financial management, big data, artificial intelligence, financial analytics, firm
performance, and strategy. Dr. Rohail has been published his research in leading man-
agement journals such as Journal of Management and Organization, Journal of Islamic
Accounting and Business Research, Economics Bulletin, Journal of International Women's
Studies, Journal of Risk and Financial Management and International Journal of Financial
Studies. In total, he has published over 37 refereed journal articles to date. Currently,
Rohail is working in the capacity of Series Editor titled as “Big Data for Industry 4.0:
Challenges and Applications - Taylor & Francis Group. Rohail is also serving as an
International Editorial Board Member to Journal of Risk and Financial Management, and
Editor of Humanities & Social Sciences Reviews, and Reviewer to several prestigious
academic journals such as Journal of Management & Organization (JMO), International
Journal of Finance and Economics (IJFE), Applied Economics incorporating Applied
Financial Economics, Sustainability, and International Journal of Environmental
Research and Public Health. Besides, he is a Member of The American Finance Association
(AFA).
Octavio Escobar, is Full Professor of Economics at the EM Normandie Business School,
France. He holds a PhD in Economics from Paris-Dauphine University. His research fo-
cuses on multinational enterprises, development and territorial dynamics, as well as on
the effects of the adoption of new technologies on innovation and productivity. His re-
search has been published in various prestigious journals.