Generative Artificial Intelligence (GenAI) in Business: A Systematic Review on the Threshold of Transformation

Abstract

This systematic review examines the transformative potential of Generative Artificial Intelligence (GenAI) across diverse sectors, including information technology, education, manufacturing, creative industries, healthcare, transportation, management, marketing, finance, energy, law, media, agriculture, and e-commerce. By analyzing its applications, the study highlights how GenAI enhances efficiency, fosters innovation, and addresses sector-specific challenges. Key benefits include the automation of complex processes, optimization of resource use, and acceleration of decision-making. However, delayed adoption risks such as workforce displacement and ethical dilemmas are also discussed. The review identifies critical barriers like data privacy concerns, algorithmic bias, and regulatory challenges. Practical strategies for successful GenAI integration are explored, emphasizing infrastructure readiness, workforce upskilling, and ethical governance. This includes leveraging generative models such as Generative Adversarial Networks (GANs), Transformer-based models, Variational Autoencoders (VAEs), and diffusion models to adapt to industry-specific demands. Furthermore, the study underscores the necessity of balancing technological advancements with responsible AI deployment to minimize risks and maximize societal benefits. By synthesizing existing research, this review provides actionable insights for stakeholders aiming to leverage GenAI's transformative capabilities responsibly. It emphasizes the urgency of adopting GenAI technologies to maintain competitiveness and sustainability in rapidly evolving markets. As the study concludes, it advocates for cross-sectoral collaboration to address the complex challenges posed by this paradigm-shifting technology and calls for adaptive policies to align innovation with ethical principles and societal values.

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