The adoption of artificial intelligence powered workforce management for effective revenue growth of micro, small, and medium scale enterprises (MSMEs)

Kumar, Mukesh, Raut, Rakesh D., Mangla, Sachin Kumar, Ferraris, Alberto and Choubey, Vikas Kumar (2022) The adoption of artificial intelligence powered workforce management for effective revenue growth of micro, small, and medium scale enterprises (MSMEs). Production Planning and Control. ISSN 1366-5871 (In Press)

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Abstract

Artificial intelligence (AI) has been used in various industries to provide innovative and intelligent features in micro, small and medium enterprises (MSMEs). Big industries started adopting AI for their HR and workforce management (WFM) activities, however, past literature suggests a lack of AI adoption in MSMEs. In the ongoing pandemic, a large number of job loss is reported in the literature. Thus, artificial intelligence-powered intelligent workforce management (WFM) may be critical during or post-pandemic to manage the huge employment in MSMEs. In this study, we develop and test a conceptual framework based on three areas where AI-powered WFM adoption for MSMEs revenue development has been highlighted. These are (a) risk management (workforce), (b) business and marketing, and (c) information exchange. Six hypotheses have been proposed and tested using structural equation modelling (SEM) with responses from 307 employees. According to the research findings, all of the offered hypotheses are significant. The findings suggest to MSME decision-makers that AI-powered WFM may help revenue growth, workforce risk reduction, intelligent business and marketing, and thoughtful, innovative, and safe information exchange. MSMEs are required to use AI in the information sharing that help in workforce risk management, business and marketing, and intelligent workforce management that scale-up the economic growth.

Item Type: Article
Keywords: Artificial intelligence | Business Intelligence | Risk Intelligence | Intelligent Information | Sharing Micro Small and Medium-Scale Enterprises (MSMEs)
Subjects: Social Sciences and humanities > Business, Management and Accounting > General Management
JGU School/Centre: Jindal Global Business School
Depositing User: Amees Mohammad
Date Deposited: 20 Oct 2022 05:26
Last Modified: 20 Oct 2022 05:27
Official URL: https://doi.org/10.1080/09537287.2022.2131620
URI: https://pure.jgu.edu.in/id/eprint/4706

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