Innovative Applications in Businesses: An Evaluation on Generative Artificial Intelligence

The utilisation of Chat Generative Pre-Trained Transformer (ChatGPT) and generative artificial intelligence (GenAI) technologies has started to demonstrate its impact across several domains. The swift shift and widespread implementation of efficient artificial intelligence (AI) present distinct prospects such as optimisation, advancement, enhanced efficiency, boosted sales and marketing, expansion, reduced costs, and heightened profitability. GenAI has the potential to create a competition crisis between technologically advanced enterprises and less developed ones. Additionally, it may give rise to legal, moral, and ethical issues such as copyright infringement and the production of fake and false information. Hence, it is crucial for organisations to ensure that the productivity of AI is maximized in order to maximise its benefits and minimise any potential harm. The aim of this study is to provide suggestions regarding the use and potential of GenAI technologies in the corporate sector and to emphasise the potential research areas of future GenAI. This study contributes to research and practice in business and management and also identifies future research avenues. This study examines the benefits and disadvantages of using GenAI tools in businesses and individual departments, and it highlights the potential risks and dangers. A bibliometric analysis of 198 studies in the discipline of Business Management from the Scopus database was conducted using the R program’s bibliometrix package. The study focuses on descriptive data, annual scientific production, most productive journals, most productive authors and authors dominance factor, most cited publications, and most relevant keywords. The findings show that GenAI is likely to continue with a strong and rapidly rising trend in 2024 and beyond.