ABSTRACT
Artificial intelligence (AI) and digital transformation have been paving the way for a paradigm shift in management in various fields. These cutting-edge technologies are taking businesses from traditional models to the vast expanse of cyberspace, reaching every user on the planet. The integration of AI technologies has democratized knowledge, specialized work experiences, fostered collaboration, and prepared employees for the era of digital economy. As the management model 5.0 continues to evolve, it is crucial for enterprises to embrace digital transformation and unlock new frontiers to equip their employees with the emerging skills and core competencies needed for success in the dynamic world and AI-oriented technologies of business. This chapter presents the challenges and opportunities associated with smart applications and digital transformation in the business environment. Concerns about data volume, digital divide, data security, communications, and the quality of online business models require careful consideration and delve into the implications of digital transformation with the assistance of AI. The incorporation of emerging technologies such as ChatGPT, ChatBot, Metaverse, extended reality (XR), virtual reality (VR), and augmented reality (AR) has enriched the business process by offering hands-on experiences in real-world scenarios. By embracing this transformation with careful consideration of its challenges, the business ecosystem can evolve and thrive in the dynamic and rapidly in the landscape of moving forward industry revolution 5.0.
