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Integrating artificial intelligence into ERP systems: advantages, disadvantages and prospects

https://doi.org/10.21202/2782-2923.2024.3.619-640

Abstract

   Objective: to identify the key benefits and potential risks associated with the use of artificial intelligence in ERP systems to improve decision-making processes, management efficiency and operational performance of various sectors, including commercial and non-profit organizations.

   Methods: systematic literature review, empirical data analysis, analytical and experimental research methods.

   Results: the key directions of artificial intelligence implementation in ERP-systems are reflected, providing improvement of operational efficiency, customer relations, as well as optimization of business processes, data management, supply chain and personnel management, automation of operations related to finance, optimization of customer relations; implementation of artificial intelligence in ERP-systems reduces inventory management costs, improves the accuracy of forecasting and
inventory optimization, accelerates financial analysis and increases the accuracy of budgeting, resulting in reduced budget planning time; it also increases productivity by optimizing necessary production processes and reducing equipment downtime. However, there are also risks of confidential data leakage, unauthorized access to data; job losses due to automation of tasks; and vulnerability to cyberattacks.

   Scientific novelty: the little-studied directions of artificial intelligence integration in ERP-systems are analyzed; an integrative approach to the application of artificial intelligence in ERP-systems is proposed, which combines methods of machine learning, natural language processing and predictive analytics and provides a comprehensive assessment of the complex impact on the business processes’ efficiency.

   Practical significance: the formulated directions for solving the identified problems of artificial intelligence integration in ERP-systems can be implemented in practice, as they will enable to better take into account local requirements and laws.

About the Authors

I. I. Antonova
Kazan Innovative University named after V. G. Timiryasov
Russian Federation

Irina I. Antonova, Dr. Sci. (Economics), Professor, Vice Rector on innovative and project activity, Head of the Department

Department of Digital Economy and Quality Management

Kazan

Web of Science Researcher ID: https://publons.com/researcher/4905426


Competing Interests:

One of the authors (I. I. Antonova) is a member of the Editorial Board of the Russian Journal of Economics and Law. The article has been reviewed on the usual terms



V. A. Smirnov
Kazan Innovative University named after V. G. Timiryasov
Russian Federation

Vitaliy A. Smirnov, Dr. Sci. (Economics), Professor

Department of Digital Economy and Quality Management

Kazan


Competing Interests:

One of the authors (I. I. Antonova) is a member of the Editorial Board of the Russian Journal of Economics and Law. The article has been reviewed on the usual terms



M. G. Efimov
Kazan Innovative University named after V. G. Timiryasov
Russian Federation

Maksim G. Efimov, Senior Lecturer

Department of Computer Modeling and Technosphere Safety

Kazan

Web of Science Researcher ID: AAF-3105-2019


Competing Interests:

One of the authors (I. I. Antonova) is a member of the Editorial Board of the Russian Journal of Economics and Law. The article has been reviewed on the usual terms



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For citations:


Antonova I.I., Smirnov V.A., Efimov M.G. Integrating artificial intelligence into ERP systems: advantages, disadvantages and prospects. Russian Journal of Economics and Law. 2024;18(3):619-640. (In Russ.) https://doi.org/10.21202/2782-2923.2024.3.619-640

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ISSN 2782-2923 (Print)