AI and Strategic Decision Making Processes - An empirical study on how Large Language Models can be utilized in Strategic Decision Making Processes
(2023) BUSN09 20231Department of Business Administration
- Abstract
- The purpose of this study is to contribute with an understanding of what role AI has, and might have, in strategic decision making processes. The literature review of the study builds upon research within Resource Based Theory, Strategic Decision Making Theory and is supported by technical reports on Large Language Models. It is a qualitative single case study with empirical data collected from six semi-structured interviews with professionals in knowledge-intensive firms from various consultancy and professional service firms.
The empirical results showed that LLMs are utilized mainly in the early stages of the decision making process due to the novelty of the technology and it being encountered with several challenges, hindering a... (More) - The purpose of this study is to contribute with an understanding of what role AI has, and might have, in strategic decision making processes. The literature review of the study builds upon research within Resource Based Theory, Strategic Decision Making Theory and is supported by technical reports on Large Language Models. It is a qualitative single case study with empirical data collected from six semi-structured interviews with professionals in knowledge-intensive firms from various consultancy and professional service firms.
The empirical results showed that LLMs are utilized mainly in the early stages of the decision making process due to the novelty of the technology and it being encountered with several challenges, hindering a wide application of LLMs in firms. It also indicates that there is an increased demand in seeking consulting for strategic solutions supported by LLMs, either in internal processes or as a product (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9131458
- author
- Hed Dahl, Louise LU and Holmqvist, Johan LU
- supervisor
-
- Ulf Ramberg LU
- organization
- course
- BUSN09 20231
- year
- 2023
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- Strategic Decision Making Processes, Artificial Intelligence, Large Language Models, ChatGPT, Data Privacy
- language
- English
- id
- 9131458
- date added to LUP
- 2023-09-12 13:21:57
- date last changed
- 2023-09-12 13:21:57
@misc{9131458, abstract = {{The purpose of this study is to contribute with an understanding of what role AI has, and might have, in strategic decision making processes. The literature review of the study builds upon research within Resource Based Theory, Strategic Decision Making Theory and is supported by technical reports on Large Language Models. It is a qualitative single case study with empirical data collected from six semi-structured interviews with professionals in knowledge-intensive firms from various consultancy and professional service firms. The empirical results showed that LLMs are utilized mainly in the early stages of the decision making process due to the novelty of the technology and it being encountered with several challenges, hindering a wide application of LLMs in firms. It also indicates that there is an increased demand in seeking consulting for strategic solutions supported by LLMs, either in internal processes or as a product}}, author = {{Hed Dahl, Louise and Holmqvist, Johan}}, language = {{eng}}, note = {{Student Paper}}, title = {{AI and Strategic Decision Making Processes - An empirical study on how Large Language Models can be utilized in Strategic Decision Making Processes}}, year = {{2023}}, }