IDEAS home Printed from https://ideas.repec.org/a/ibn/ijbmjn/v19y2024i6p82.html

AI-Driven Risk Management for Sustainable Enterprise Development: A Review of Key Risks

Author

Listed:
  • Zhenglong Guo
  • Runshuai Li

Abstract

The proliferation and application scope of artificial intelligence (AI) have witnessed a gradual expansion in the last several years, marking a substantial leap in quality when compared to the landscape a decade ago. Its permeation into every industry is undeniable, yet it concomitantly poses a multitude of challenges that are inherently difficult to fully mitigate across various domains. By harnessing the power of AI, enterprises can significantly augment their risk identification and management capabilities, ultimately fostering sustainable development. The implementation of AI technologies facilitates automated analysis of complex data sets, rapid identification of potential risk points, and offers precise early warning systems along with invaluable decision support. However, it is imperative to acknowledge that AI itself is not without risks. The rapid pace of its development has been accompanied by a proliferation of incident reports, highlighting the wide range and intricate nature of the risks involved. The unfortunate instances of technology companies succumbing to bankruptcy further underscore the fact that the development and utilization of AI are not devoid of vulnerabilities, thereby posing latent threats to the sustainable development of enterprises. Consequently, this paper adopts a rigorous literature review method, carefully selecting 82 highly pertinent articles, to comprehensively synthesize and analyze the drawbacks and risks associated with AI applications in recent years. The ultimate aim is to provide insightful guidance for the sustainable growth of enterprises and the efficient harnessing of AI technologies.

Suggested Citation

  • Zhenglong Guo & Runshuai Li, 2024. "AI-Driven Risk Management for Sustainable Enterprise Development: A Review of Key Risks," International Journal of Business and Management, Canadian Center of Science and Education, vol. 19(6), pages 1-82, December.
    • Handle: RePEc:ibn:ijbmjn:v:19:y:2024:i:6:p:82
    as

    Download full text from publisher

    File URL: https://ccsenet.org/journal/index.php/ijbm/article/download/0/0/50737/54986
    Download Restriction: no
    File URL: https://ccsenet.org/journal/index.php/ijbm/article/view/0/50737
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Korinek, Anton & Stiglitz, Joseph, 2021. "Artificial Intelligence, Globalization, and Strategies for Economic Development," CEPR Discussion Papers 15772, C.E.P.R. Discussion Papers.
    2. Xiaodong Teng & Kun-Shan Wu & Lopin Kuo & Bao-Guang Chang, 2023. "Investigating the double-edged sword effect of environmental, social and governance practices on corporate risk-taking in the high-tech industry," Oeconomia Copernicana, Institute of Economic Research, vol. 14(2), pages 511-549, June.
    3. Piotr Staszkiewicz & Jarosław Horobiowski & Anna Szelągowska & Agnieszka Maryla Strzelecka, 2024. "Artificial intelligence legal personality and accountability: auditors’ accounts of capabilities and challenges for instrument boundary," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 32(7), pages 120-146, June.
    4. Lundvall, Bengt-Åke & Rikap, Cecilia, 2022. "China's catching-up in artificial intelligence seen as a co-evolution of corporate and national innovation systems," Research Policy, Elsevier, vol. 51(1).
    5. Anna Viktorovna Shkalenko & Anton V. Nazarenko, 2024. "Integration of AI and IoT into Corporate Social Responsibility Strategies for Financial Risk Management and Sustainable Development," Risks, MDPI, vol. 12(6), pages 1-21, May.
    6. Thereza Raquel Sales de Aguiar, 2024. "ChatGPT: reflections from the UK higher education institutions, accountancy bodies and BIG4s," Accounting Research Journal, Emerald Group Publishing Limited, vol. 37(3), pages 308-329, June.
    7. A. Atabekov & O. Yastrebov, 2018. "Legal Status of Artificial Intelligence Across Countries: Legislation on the Move," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 773-782.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Saima Javed & Yu Rong & Babar Nawaz Abbasi, 2024. "Convergence analysis of artificial intelligence research capacity: Are the less developed catching up with the developed ones?," Journal of International Development, John Wiley & Sons, Ltd., vol. 36(4), pages 2172-2192, May.
    2. Jinqiu He & Huiwen Su, 2022. "Digital Transformation and Green Innovation of Chinese Firms: The Moderating Role of Regulatory Pressure and International Opportunities," IJERPH, MDPI, vol. 19(20), pages 1-21, October.
    3. Andrea Coveri & Claudio Cozza & Dario Guarascio, 2025. "Blurring Boundaries: An Analysis of the Digital Platforms-Military Nexus," Review of Political Economy, Taylor & Francis Journals, vol. 37(4), pages 1632-1663, August.
    4. Caleb Peppiatt, 2024. "The Future of Work: Inequality, Artificial Intelligence, and What Can Be Done About It. A Literature Review," Papers 2408.13300, arXiv.org.
    5. Carlo Drago & Alberto Costantiello & Marco Savorgnan & Angelo Leogrande, 2025. "Driving AI Adoption in the EU: A Quantitative Analysis of Macroeconomic Influences," Working Papers hal-05102974, HAL.
    6. Ana L. Abeliansky & Klaus Prettner & Roman Stoellinger, 2023. "Infection Risk at Work, Automatability, and Employment," Department of Economics Working Papers wuwp352, Vienna University of Economics and Business, Department of Economics.
    7. Fabrizio Leone, 2023. "Multinationals, robots and the labor share," CEP Discussion Papers dp1900, Centre for Economic Performance, LSE.
    8. Jun Cui, 2025. "Empirical Analysis of Digital Innovations Impact on Corporate ESG Performance: The Mediating Role of GAI Technology," Papers 2504.01041, arXiv.org.
    9. Adelaide Selemela & Michael Nkosinathi Khwela & Mohale Ernest Selelo, 2023. "The role of the fourth industrial revolution in achieving economic development: challenges and opportunities," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 12(7), pages 244-253, October.
    10. Guarascio, Dario & Reljic, Jelena & Stöllinger, Roman, 2025. "Diverging paths: AI exposure and employment across European regions," Structural Change and Economic Dynamics, Elsevier, vol. 73(C), pages 11-24.
    11. Ramirez Valdebenito Carlos & Gherghina Elena Madalina, 2022. "The Pandemic Impact On The Dynamic Of Employment In Developing Countries In The Context Of Vulnerability And Inequality. The Case Of Bulgaria And Romania," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 5-14, February.
    12. Chen, Wei & Song, Hongti, 2024. "National innovation system: Measurement of overall effectiveness and analysis of influencing factors," Technology in Society, Elsevier, vol. 77(C).
    13. Leone, Fabrizio, 2021. "Foreign Ownership and Robot Adoption," CEPREMAP Working Papers (Docweb) 2111, CEPREMAP.
    14. Wei Tu & Wei-Chiao Huang & Nianzhai Ma & Juan He, 2025. "Mixed ownership reform and digitalisation," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-13, December.
    15. Jinjin Zhang & Zixuan Li & Arshad Ali & Jinshu Wang, 2023. "Does globalization matter in the relationship between renewable energy consumption and economic growth, evidence from Asian emerging economies," PLOS ONE, Public Library of Science, vol. 18(8), pages 1-25, August.
    16. Xing, Zeyu & Yalçin, Haydar & Daim, Tugrul, 2024. "Digital Economy's influence on R&D Network configurations: Integrating resource dependence theory and institutional theory," Technovation, Elsevier, vol. 137(C).
    17. Rikap, Cecilia, 2022. "Becoming an intellectual monopoly by relying on the national innovation system: the State Grid Corporation of China's experience," Research Policy, Elsevier, vol. 51(4).
    18. Davit Gondauri & Maia Noniashvili & Mikheil Batiashvili & Nino Enukidze, 2024. "Gauging Growth: AGI’s Mathematical Metrics for Economic Progress," International Journal of Business and Management, Canadian Center of Science and Education, vol. 19(1), pages 1-94, February.
    19. Zhaozhong Zhang & Fangfang Deng, 2023. "How can artificial intelligence boost firms’ exports? evidence from China," PLOS ONE, Public Library of Science, vol. 18(8), pages 1-24, August.
    20. Shreya Roy & Sugata Marjit & Bibek Ray Chaudhuri, 2022. "Role of Artificial Intelligence in Intra-Sectoral Wage Inequality in an Open Economy: A Finite Change Approach," CESifo Working Paper Series 9862, CESifo.

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ibn:ijbmjn:v:19:y:2024:i:6:p:82. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Canadian Center of Science and Education (email available below). General contact details of provider: https://edirc.repec.org/data/cepflch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.