A study on assessing the integration of Artificial Intelligence (AI) on risk management practices within the Information Technology industry in India
Authors
Pallan, Noel Anto
Issue Date
2024
Degree
Master in Business Administration
Publisher
Dublin Business School
Rights holder
Rights
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Abstract
The study investigates risk management practices within the Information Technology (IT) industry in India, focusing on the roles of AI adoption, organizational culture, technological infrastructure, and regulatory compliance. Through rigorous analysis including reliability testing, demographic examination, descriptive statistics, correlation analysis, and multiple regression modeling, the research uncovers insights into the complex dynamics of risk management in the Indian IT sector. Key findings reveal the transformative impact of AI adoption on risk management effectiveness. Organizations investing in AI-powered solutions demonstrate higher levels of risk management efficacy, aligning with global trends in AI adoption for business optimization and resilience. Additionally, organizational culture emerges as a crucial determinant of risk management outcomes, with cultures fostering innovation, collaboration, and risk-awareness exhibiting more robust practices.
Moreover, the study highlights the pivotal role of technological infrastructure in shaping risk management practices. Organizations with robust, flexible, and compatible infrastructures are better equipped to implement and sustain effective strategies. Regulatory compliance also emerges as a significant driver, with adherence to data privacy regulations positively influencing risk management effectiveness. Based on these findings, recommendations are provided to enhance risk management practices within the Indian IT industry. These include increasing investment in AI-related initiatives, fostering innovation and collaboration, prioritizing investments in data security and governance, and staying abreast of regulatory changes. Additionally, suggestions for further research are outlined, such as longitudinal studies on the effects of AI adoption and comparative analyses across different industry sectors and regions. As a conclusion, the study offers valuable insights for stakeholders in the Indian IT industry to inform strategic decision-making processes and initiatives aimed at strengthening risk management capabilities, organizational resilience, and regulatory compliance.