Generative Artificial Intelligence in Applied Business Contexts: A Systematic Review, Lexical Analysis, and Research Framework

Authors

  • Mark A. McKnight University of Southern Indiana
  • Cristina M. Gilstrap University of Southern Indiana
  • Curt A. Gilstrap University of Southern Indiana
  • Dinko Bacic Loyola University Chicago
  • Kenneth Shemroske University of Southern Indiana
  • Srishti Srivastava University of Southern Indiana

DOI:

https://doi.org/10.33423/jabe.v26i2.7040

Keywords:

business, economics, generative artificial intelligence, systematic review, lexical analysis, applied business research

Abstract

Generative Artificial Intelligence (GenAI) is transforming business practices with potential applications in customer service, code generation, risk analysis, and HR functions. GenAI may simultaneously create or exacerbate ethical, legal, and security concerns in the business context despite its promise. Thus, researchers should be interested in its role and impact, especially in the applied business context. This multi-method systematic review examines GenAI literature in applied business research, revealing dominant themes like ChatGPT and language models but noting a scarcity of business-based studies. Analysis of GenAI research features in applied business studies identifies a limited focus on theoretical frameworks, data collection methods, and data analysis processes. We suggest frameworks for future research to assess GenAI’s impact on system and information quality, user satisfaction, and organizational outcomes based on our findings. This review provides a vital foundation for understanding and advancing GenAI in applied business research contexts.

References

Aydın, Ö., & Karaarslan, E. (2023). Is ChatGPT leading generative AI? What is beyond expectations? Academic Platform Journal of Engineering and Smart Systems, 11(3), 118–134. DOI:10.21541/apjess.1293702

Beerbaum, D. (2023a). Generative artificial intelligence (GAI) with Chat GPT for accounting – A business case. Special Issue on Generative Artificial Intelligence (GAI). Social Science Research Network. Retrieved from https://ssrn.com/abstract=4385651

Beerbaum, D. (2023b). Generative artificial intelligence (GAI) ethics taxonomy: Applying Chat GPT for robotic process automation (GAI-RPA) as a business case. Special Issue on Generative Artificial Intelligence (GAI). Social Science Research Network. Retrieved from https://ssrn.com/abstract=4385025

Bilgram, V., & Laarmann, F. (2023). Accelerating innovation with generative AI: AI-augmented digital prototyping and innovation methods. IEEE Engineering Management Review. https://doi.org/10.1109/EMR.2023.3272799

Borges, A.F.S., Laurindo, F.J.B., Spinola, M.M., Goncalves, R.F., & Mattos, C.A. (2021). The strategic use of artificial intelligence in the digital era: Systematic literature review and future research directions. International Journal of Information Management, 57. https://doi.org/10.1016/j.ijinfomgt.2020.102225

Brynjolfsson, E., Li, D., & Raymond, L.R. (2023). Generative AI at work (working paper 31161). National Bureau of Economic Research. Retrieved from http://www.nber.org/papers/w31161DOI:10.3386/w31161

Çakar, K., & Aykol, S. (2022). The past of tourist behaviour in hospitality and tourism in difficult times: A systematic review of literature (1978–2020). International Journal of Contemporary Hospitality Management, 35(2), 630–656.

Chen, B., Wu, Z., & Zhao, R. (2023). From fiction to fact: the growing role of generative AI in business and finance. Journal of Chinese Economic and Business Studies, pp. 1–26.

Cheng, Z., Lee, D., & Tambe, P. (2022). InnoVAE: Generative AI for mapping patents and firm innovation. Social Science Research Network. Retrieved from https://ssrn.com/abstract=3868599 http://dx.doi.org/10.2139/ssrn.3868599

Chowdhary, K., & Chowdhary, K.R. (2020). Natural language processing. Fundamentals of Artificial Intelligence, pp. 603–649.

Cretchley, J., Rooney, D., & Gallois, C. (2010). Mapping a 40-year history with Leximancer: Themes and concepts in the Journal of Cross-Cultural Psychology. Journal of Cross-Cultural Psychology, 41(3), 318–328. https://doi.org/10.1177/0022022110366105

DeLone, W.H., & McLean, E.R. (1992). Information systems success: The quest for the dependent variable. Information Systems Research, 3(1), 60–95.

Delone, W.H., & McLean, E.R. (2004). Measuring e-commerce success: Applying the DeLone & McLean information systems success model. International Journal of Electronic Commerce, 9(1), 31–47.

Eisfeldt, A.L., Schubert, G., & Zhang, M.B. (2023). Generative AI and firm values (working paper 31222). National Bureau of Economic Research. Retrieved from http://www.nber.org/papers/w31222 DOI: 10.3386/w31222

Euchner, J. (2023). Generative AI. Research-Technology Management, 66(3), 71–74. https://doi.org/10.1080/08956308.2023.2188861

Ferrag, M.A., Debbah, M., & Al-Hawawreh, M. (2023). Generative AI for cyber threat-hunting in 6G-enabled IoT networks. Retrieved from http://arxiv.org/abs/2303.11751

Gilstrap, C.A., & Gilstrap, C.M. (2023). Mobile technologies and live streaming commerce: A systematic review and lexical analysis. 2023 46th MIPRO ICT and Electronics Convention (MIPRO), Opatija, Croatia, pp. 36–44. DOI: 10.23919/MIPRO57284.2023.10159883

Goodhue, D.L., & Thompson, R.L. (1995). Task-technology fit and individual performance. MIS Quarterly, 19(2), 213.

Hair, J.F., Page, M., & Brunsveld, N. (2020). Essentials of business research methods. New York: Routledge: Taylor & Francis Group.

Houde, S., Liao, V., Martino, J., Muller, M., Piorkowski, D., Richards, J., . . . Zhang, Y. (2020). Business (mis) use cases of generative AI. Retrieved from http://arxiv.org/abs/2003.07679

Inie, N., Falk, J., & Tanimoto, S. (2023). Designing participatory AI: Creative professionals’ worries and expectations about generative AI. Extended Abstracts of the 2023 CHI Conference on Human Factors in Computing Systems, pp. 1–8. https://doi.org/10.1145/3544549.3585657

Jovanović, M., & Campbell, M. (2022). Generative artificial intelligence: Trends and prospects. IEEE Computer, 55, 107–112.

Kanbach, D.K., Heiduk, L., Blueher, G., Schreiter, M., & Lahmann, A. (2023) The GenAI is out of the bottle: Generative artificial intelligence from a business model innovation perspective. Review of Managerial Science. https://doi.org/10.1007/s11846-023-00696-z

Kanitz, R., Gonzalez, K., Briker, R., & Straatmann, T. (2023). Augmenting organizational change and strategy activities: Leveraging generative artificial intelligence. Journal of Applied Behavioral Science. https://doi.org/10.1177/00218863231168974

Kitchenham, B., & Brereton, P. (2013). A systematic review of systematic review process research in software engineering. Information and Software Technology, 55(12), 2049–2075. https://doi.org/10.1016/j.infsof.2013.07.010

Korzynski, P., Mazurek, G., Altmann, A., Ejdys, J., Kazlauskaite, R., Paliszkiewicz, J., . . . Ziemba, E. (2023). Generative artificial intelligence as a new context for management theories: Analysis of ChatGPT. Central European Management Journal, 31(1), 3–13. https://doi.org/10.1108/CEMJ-02-2023-0091

Krause, D.S. (2023a). ChatGPT and generative AI: The new barbarians at the gate. Social Science Research Network. Retrieved from http://dx.doi.org/10.2139/ssrn.4447526

Krause, D.S. (2023b). Mitigating risks for financial firms using generative AI tools. Social Science Research Network. Retrieved from http://dx.doi.org/10.2139/ssrn.4452600

Krause, D.S. (2023c). Proper generative AI prompting for financial analysis. Social Science Research Network. Retrieved from http://dx.doi.org/10.2139/ssrn.4453664

Lemon, L.L., & Hayes, J. (2020). Enhancing trustworthiness of qualitative findings: Using Leximancer for qualitative data analysis triangulation. The Qualitative Report, 25(3), 604–614. https://doi.org/10.46743/2160-3715/2020.4222

Leximancer Pty Ltd. (2018, July). Leximancer user guide: Release 4.5. Retrieved from http://info.leximancer.com/

Lim, W.M., Gunasekara, A., Pallant, J.L., Pallant, J.I., & Pechenkina, E. (2023). Generative AI and the future of education: Ragnarök or reformation? A paradoxical perspective from management educators. International Journal of Management Education, 21(2). https://doi.org/10.1016/j.ijme.2023.100790

Mayahi, S., & Vidrih, M. (2022). The impact of generative AI on the future of visual content marketing. Cornell University. https://doi.org/10.48550/arXiv.2211.12660

Mollick, E., & Euchner, J. (2023). The transformative potential of generative AI. Research-Technology Management, 66(4), 11–16. https://doi.org/10.1080/08956308.2023.2213102

Mondal, S., Das, S., & Vrana, V.G. (2023). How to bell the cat? A theoretical review of generative artificial intelligence towards digital disruption in all walks of life. Technologies, 11(2), 44.

Norris, S.E., (2015). Learning and knowledge creation under perpetual construction: A complex responsible approach to applied Business Research. In V. Wang (Ed.), Handbook of Research on Scholarly Publishing and Research Methods (pp. 205–230).

Page, M.J., McKenzie, J.E., Bossuyt, P.M., Boutron, I., Hoffmann, T.C., Mulrow, C.D., . . . Moher, D. (2021). Updating guidance for reporting systematic reviews: Development of the PRISMA 2020 statement. Journal of Clinical Epidemiology, 134, 103–112.

Pratt, M.K. (2023, June 1). 15 AI risks businesses must confront and how to address them. TechTarget. Retrieved February 1, 2024, from https://www.techtarget.com/searchenterpriseai/feature/5-AI-risks-businesses-must-confront-and-how-to-address-them?Offer=abt_pubpro_AI-Insider

Pushparaj, N., Sivakumar, V.J., Natarajan, M., & Bhuvaneskumar, A. (2023). Two decades of DeLone and McLean IS success model: A scientometrics analysis. Quality & Quantity, 57(9), 2469–2491.

Sia. (2024). The ubiquitous rise of generative AI amidst all controversy. Retrieved from https://www.heysia.ai/the-ubiquitous-rise-of-generative-ai-amidst-all-controversy/

Sohail, S.S., Farhat, F., Himeur, Y., Nadeem, M., Madsen, D.O., Singh, Y., . . . Mansoor, W. (2023). Decoding ChatGPT: A taxonomy of existing research, current challenges, and possible future directions. Journal of King Saud University-Computer and Information Sciences, 35(8). https://doi.org/10.1016/j.jksuci.2023.101675

Stanford University. (2023). Stanford University Human-Centered Artificial Intelligence. Retrieved from https://hai.stanford.edu/about

Tese, G.V., & Silvanio, V. (2023). A double-edged sword: the benefits and risks of AI in business. Retrieved from https://www.eckertseamans.com/legal-updates/a-double-edged-sword-the-benefits-and-risks-of-ai-in-business

Tilley, S. (2020). Systems analysis and design. Cengage Learning.

Venkatesh, V., Morris, M.G., Davis, G.B., & Davis, F.D. (2003). User acceptance of information technology: Toward a unified view. MIS Quarterly, 27(3), 425–478.

Vessey, I., & Galletta, D. (1991). Cognitive fit: An empirical study of information acquisition. Information Systems Research, 2(1), 63–84.

Weitzman, T. (2023). Understanding the benefits and risks of using AI in business. Forbes. Retrieved from https://www.forbes.com/sites/forbesbusinesscouncil/2023/03/01/understanding-the-benefits-and-risks-of-using-ai-in-business/?sh=22e43d046bba

Wilk, V., Soutar, G.N., & Harrigan, P. (2019). Tackling social media data analysis: Comparing and contrasting QSR NVivo and Leximancer. Qualitative Market Research, 22(2), 94–113.

Zhang, T., Qin, Y., & Li, Q. (2021). Trusted artificial intelligence: Technique requirements and best practices. International Conference on Trust, Security and Privacy in Computing and Communications (TrustCom), Shenyang, China, pp. 1458–1462. DOI:10.1109/TrustCom53373.2021.00207

Zhong, H., Chang, J., Yang, Z., Wu, T., Arachchige, P.C.M., Pathmabandu, C., & Xue, M. (2023). Copyright protection and accountability of generative AI: Attack, watermarking and attribution. ACM Web Conference 2023 - Companion of the World Wide Web Conference, WWW 2023, pp.94–98. https://doi.org/10.1145/3543873.3587321

Downloads

Published

2024-06-20

How to Cite

McKnight, M. A., Gilstrap, C. M., Gilstrap, C. A., Bacic, D., Shemroske, K., & Srivastava, S. (2024). Generative Artificial Intelligence in Applied Business Contexts: A Systematic Review, Lexical Analysis, and Research Framework. Journal of Applied Business and Economics, 26(2). https://doi.org/10.33423/jabe.v26i2.7040

Issue

Section

Articles