Demystifying Machine Learning for Business Resilience Under VUCA in the COVID-19 Era

Abstract

Purpose: The study aims to analyse and discuss the effect of COVID-19 on businesses. The chapter discusses the various machine learning (ML) tools and techniques, which can help in better decision making by businesses in the present world.

Need for the Study: COVID-19 has increased the role of VUCA elements in the business environment, and there is a need to address the challenges faced by businesses in such environment. ML and artificial learning can help businesses in facing such challenges.

Methodology: The focus and approach of the chapter are in the context of using artificial intelligence (AI) and ML techniques for decision making during the COVID-19 pandemic in a VUCA business environment.

Findings: The key findings and their implications emphasise the importance of understanding and implementing AI and ML techniques in business strategies during times of crisis.

Practical Implications: The chapter’s content is in the context of using AI and ML techniques during the COVID-19 pandemic and in a VUCA business environment.

Citation

Jangir, K., Sharma, V. and Gupta, M. (2024), "Demystifying Machine Learning for Business Resilience Under VUCA in the COVID-19 Era", Singh, D., Sood, K., Kautish, S. and Grima, S. (Ed.) VUCA and Other Analytics in Business Resilience, Part B (Emerald Studies in Finance, Insurance, and Risk Management), Emerald Publishing Limited, Leeds, pp. 103-112. https://doi.org/10.1108/978-1-83753-198-120241007