Organisational Strategies for Managing Knowledge, Risk, and Human Resource Transformation in Data and AI-Driven Economies

Abstract

The emergence of data analytics and artificial intelligence has impacted the ways and means through which organisations create value and cope with uncertainties. Therefore, studying organisational approaches to dealing with knowledge and applying artificial intelligence to risk management and organisational approaches to transforming human  resources in data and AI-driven economies is important. This paper had three specific objectives: to critically assess organisational approaches and models that deal with the management and application of available knowledge, to critically evaluate approaches that use artificial intelligence for risk assessment and management, and to assess organisational approaches to deal with transforming human resources due to data analytics and artificial intelligence. This paper used Dynamic Capability Theory as its theoretical framework. This theoretical construct is fundamental as it explains organisational sensing, organisational seizing opportunities, and organisational transformation that occurs as a result of high instability and volatility brought about by technology. This paper used a systematic review approach that undertook a thorough analysis and synthesis of relevant empirical and theoretical concepts documented and published within high-quality and relevant sources such as academic and research peer-reviewed  journals and organisational reports. This paper suggested that applying artificial intelligence improves approaches and processes used within organisations for better management of their knowledge and risk processes. This paper also suggested that transforming organisational workers through skills and ethical management is important and necessary for sustaining positive organisational outcomes due to successful adoption of artificial intelligence. This paper made recommendations that organisational managers and executives should adopt AI-enhanced approaches to management of organisational knowledge and risk management through appropriate human oversight.