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This paper aims to discuss the suitability of topic modeling as a review method, identifies and compares the machine learning (ML) research trends in five primary business organization verticals.

This study presents a review framework of published research about adopting ML techniques in a business organization context. It identifies research trends and issues using topic modeling through the Latent Dirichlet allocation technique in conjunction with other text analysis techniques in five primary business verticals – human resources (HR), marketing, operations, strategy and finance.

The results identify that the ML adoption is maximum in the marketing domain and minimum in the HR domain. The operations domain witnesses the application of ML to the maximum number of distinct research areas. The results also help to identify the potential areas of ML applications in future.

This paper contributes to the existing literature by finding trends of ML applications in the business domain through the review of published research. Although there is a growth of research publications in ML in the business domain, literature review papers are scarce. Therefore, the endeavor of this study is to do a thorough review of the current status of ML applications in business by analyzing research articles published in the past ten years in various journals.

This paper identifies consumer acceptance criteria of artificial intelligence (AI)-enabled products and services in the business. We first investigate the existing three models. They are the technology acceptance model (TAM), the unified theory of acceptance and use of technology (UTAUT) and the consumer acceptance of technology (CAT). We then discuss the applicability of these three models for AI-enabled products and services. Finally, we outline the shortcomings of the models and propose an AI-enabled product and service acceptance model (AIEPSAM). We also validate the proposed AIEPSAM model with empirical results using primary survey data.

To understand the customer’s point of view on AI applications in products and services, we identify some critical factors and present a conceptual framework of consumers' acceptance criteria based on existing literature, prior research and prominent technology management theories. Then, the study broadens the horizon beyond established principles associated with technology acceptance to accommodate AI-specific factors/variables like data privacy, explainability and apparent opacity of algorithms. In this paper, we propose an AIEPSAM and validate that model with primary survey data.

We argue that although TAM, UTAUT and CAT models are generally applicable to explain consumers' attitudes towards technology, these models alone are insufficient to encompass the entire spectrum of AI-related issues that must not be ignored. The proposed model, namely AIEPSAM, accommodates the limitations of the existing models and modifies the CAT model to make it suitable for the acceptance of AI technology.

We attempt to articulate the consumer acceptance criteria of AI-enabled products and services and discover useful insights, leading to the critical examination of TAM, UTAUT and CAT models and formulating AIEPSAM with validation through primary survey data. This study is not to criticize the TAM and other technology acceptance models but to incorporate AI-specific factors into those models. Through this study, we propose the required modifications in the existing technology acceptance models considering the AI-specific additional factors. The AIEPSAM will assist companies in building AI-enabled products and services and better understanding the technology emergence (TE) and technology opportunities (TO).

New business density (NBD) is the ratio of the number of newly registered liability corporations to the working-age population per year. NBD is critical to assessing a country's business environment. The present work endeavors to discover and gauge the contribution of 28 potential socio-economic enablers of NBD for 2006–2021 across developed and developing economies separately and to make a comparative assessment between those two regions.

Using World Bank data, the study first performs exploratory data analysis (EDA). Then, it deploys a deep learning (DL)-based regression framework by utilizing a deep neural network (DNN) to perform predictive modeling of NBD for developed and developing nations. Subsequently, we use two explainable artificial intelligence (XAI) techniques, Shapley values and a partial dependence plot, to unveil the influence patterns of chosen enablers. Finally, the results from the DL method are validated with the explainable boosting machine (EBM) method.

This research analyzes the role of 28 potential socio-economic enablers of NBD in developed and developing countries. This research finds that the NBD in developed countries is predominantly governed by the contribution of manufacturing and service sectors to GDP. In contrast, the propensity for research and development and ease of doing business control the NBD of developing nations. The research findings also indicate four common enablers – business disclosure, ease of doing business, employment in industry and startup procedures for developed and developing countries.

NBD is directly linked to any nation's economic affairs. Therefore, assessing the NBD enablers is of paramount significance for channelizing capital for new business formation. It will guide investment firms and entrepreneurs in discovering the factors that significantly impact the NBD dynamics across different regions of the globe. Entrepreneurs fraught with inevitable market uncertainties while developing a new idea into a successful new business can momentously benefit from the awareness of crucial NBD enablers, which can serve as a basis for business risk assessment.

DL-based regression framework simultaneously caters to successful predictive modeling and model explanation for practical insights about NBD at the global level. It overcomes the limitations in the present literature that assume the NBD is country- and industry-specific, and factors of the NBD cannot be generalized globally. With DL-based regression and XAI methods, we prove our research hypothesis that NBD can be effectively assessed and compared with the help of global macro-level indicators. This research justifies the robustness of the findings by using the socio-economic data from the renowned data repository of the World Bank and by implementing the DL modeling with validation through the EBM method.

It is essential to validate whether a nation's economic strength always transpires into new business capacity. The present research strives to identify the key indicators to the proxy new business ecosystem of countries and critically evaluate the similarity through the lens of advanced Fuzzy Clustering Frameworks over the years.

The authors use Fuzzy C Means, Type 2 Fuzzy C Means, Fuzzy Possibilistic C Means and Fuzzy Possibilistic Product Partition C Means Clustering algorithm to discover the inherent groupings of the considered countries in terms of intricate patterns of geospatial new business capacity during 2015–2018. Additionally, the authors propose a Particle Swarm Optimization driven Gradient Boosting Regression methodology to measure the influence of the underlying indicators for the overall surge in new business.

The Fuzzy Clustering frameworks suggest the existence of two clusters of nations across the years. Several developing countries have emerged to cater praiseworthy state of the new business ecosystem. The ease of running a business has appeared to be the most influential feature that governs the overall New Business Density.

It is of paramount practical importance to conduct a periodic review of nations' overall new business ecosystem to draw action plans to emphasize and augment the key enablers linked to new business growth. Countries found to lack new business capacity despite enjoying adequate economic strength can focus effectively on weaker dimensions.

The research proposes a robust systematic framework for new business capacity across different economies, indicating that economic strength does not necessarily transpire to equivalent new business capacity.