Abstract
Despite the increasing consensus on the disruptive potential of artificial intelligence (AI) and its positive impact on value creation for Small and Medium Enterprises (SMEs), there is a notable absence of empirical evidence in the academic literature addressing this correlation. Therefore, primary objective of this study is to identify the significant relationship between the intention to adopt AI and the digital value creation of SMEs. Additionally, this study determines the mediating role of technology orientation in the relationship between AI adoption and digital value creation. Data were collected from 335 Malaysian SMEs owners/managers who filled out self-administered/online questionnaires. The data were analyzed and hypotheses were tested using structural equation modeling (AMOS 21.0). Mediating effects were determined by bootstrapping confidence intervals. The findings of the study demonstrate that the adoption of AI interacts to encourage SMEs to enhance their digital value creation. Furthermore, AI and digital value creation were complementary mediated by technology orientation. The study makes significant contributions to theoretical advancements in research on the SME sector and the theoretical progress of AI, particularly within the context of digital SMEs. The practical value of the framework is closely tied to its applications for researchers, SME owners/managers, and aspiring entrepreneurs seeking to harness the potential of AI in an entrepreneurial setting.
This is a preview of subscription content, log in via an institution to check access.
Similar content being viewed by others
Data Availability
All the data generated or analyzed during this study are included in this published article and available from the corresponding author upon reasonable request. The data are not publicly available due to containing information that could compromise the privacy of research participants.
References
Adamides E, Karacapilidis N (2020) Information technology for supporting the development and maintenance of open innovation capabilities. J Innov Knowl 5(1):29–38. https://doi.org/10.1016/j.jik.2018.07.001
Afghari AP, Vos J, Farah H, Papadimitriou E (2023) “I did not see that coming”: a latent variable structural equation model for understanding the effect of road predictability on crashes along horizontal curves. Accid Anal Prev 187:107075. https://doi.org/10.1016/j.aap.2023.107075
Aghazadeh H, Zandi F, Amoozad Mahdiraji H, Sadraei R (2023) Digital transformation and SME internationalisation: unravelling the moderated-mediation role of digital capabilities, digital resilience and digital maturity. J Enterp Inf Manag. https://doi.org/10.1108/JEIM-02-2023-0092
Ain QU, Yuan X, Javaid HM (2022) The impact of board gender diversity and foreign institutional investors on firm innovation: evidence from China. Eur J Innov Manag 25(3):813–837. https://doi.org/10.1108/EJIM-10-2020-0439
Alerasoul SA, Afeltra G, Bouncken RB, Hakala H (2022) The synergistic impact of market and technology orientations on sustainable innovation performance: evidence from manufacturing firms. Int J Entrep Behav Res 28(6):1556–1580. https://doi.org/10.1108/IJEBR-10-2021-0799
Allataifeh H, Moghavvemi S, Peerally JA (2023) How does the digital innovation process unfold in practice? A novel third-generation and empirical-based need–solution pairing model. Eur J Innov Manag 26(3):730–754. https://doi.org/10.1108/EJIM-05-2021-0270
Amit R, Han X (2017) Value creation through novel resource configurations in a digitally enabled world. Strateg Entrep J 11(3):228–242. https://doi.org/10.1002/sej.1256
Anning-Dorson T, Nyamekye MB (2020) Be flexible: turning innovativeness into competitive advantage in hospitality firms. Int J Contemp Hosp Manag 32(2):605–624. https://doi.org/10.1108/IJCHM-12-2018-1014
Aquilani B, Piccarozzi M, Abbate T, Codini A (2020) The role of open innovation and value co-creation in the challenging transition from industry 4.0 to society 5.0: Toward a theoretical framework. Sustainability 12(21):8943. https://doi.org/10.3390/su12218943
Arias-Pérez J, Velez-Ocampo J, Cepeda-Cardona J (2021) Strategic orientation toward digitalization to improve innovation capability: why knowledge acquisition and exploitation through external embeddedness matter. J Knowl Manag 25(5):1319–1335. https://doi.org/10.1108/JKM-03-2020-0231
Attaran M (2020) Digital technology enablers and their implications for supply chain management. In Supply Chain Forum: an International Journal 21(3):158–172. https://doi.org/10.1080/16258312.2020.1751568
Azeem M, Ahmed M, Haider S, Sajjad M (2021) Expanding competitive advantage through organizational culture, knowledge sharing and organizational innovation. Technol Soc 66:101635. https://doi.org/10.1016/j.techsoc.2021.101635
Baabdullah AM, Alalwan AA, Slade EL, Raman R, Khatatneh KF (2021) SMEs and artificial intelligence (AI): Antecedents and consequences of AI-based B2B practices. Ind Mark Manage 98:255–270. https://doi.org/10.1016/j.indmarman.2021.09.003
Barile S, Grimaldi M, Loia F, Sirianni CA (2020) Technology, value co-creation and innovation in service ecosystems: toward sustainable co-innovation. Sustainability 12(7):2759. https://doi.org/10.3390/su12072759
Battisti E, Miglietta N, Nirino N, Villasalero Diaz M (2020) Value creation, innovation practice, and competitive advantage: Evidence from the FTSE MIB index. Eur J Innov Manag 23(2):273–290. https://doi.org/10.1108/EJIM-09-2018-0211
Bayarçelik EB, Bumin Doyduk HB (2020) Digitalization of business logistics activities and future directions Digital Business Strategies in Blockchain Ecosystems: Transformational Design and Future of Global Business. pp 201–238. https://doi.org/10.1007/978-3-030-29739-8_10
Becker W, Schmid O (2020) The right digital strategy for your business: an empirical analysis of the design and implementation of digital strategies in SMEs and LSEs. Bus Res 13(3):985–1005. https://doi.org/10.1007/s40685-020-00124-y
Blanca MJ, Arnau J, López-Montiel D, Bono R, Bendayan R (2013) Skewness and kurtosis in real data samples. Methodology. https://doi.org/10.1027/1614-2241/a000057
Blichfeldt H, Faullant R (2021) Performance effects of digital technology adoption and product & service innovation–A process-industry perspective. Technovation 105:102275. https://doi.org/10.1016/j.technovation.2021.102275
Brissaud D, Sakao T, Riel A, Erkoyuncu JA (2022) Designing value-driven solutions: The evolution of industrial product-service systems. CIRP Ann 71(2):553–575. https://doi.org/10.1016/j.cirp.2022.05.006
Canhoto AI, Clear F (2020) Artificial intelligence and machine learning as business tools: A framework for diagnosing value destruction potential. Bus Horiz 63(2):183–193. https://doi.org/10.1016/j.bushor.2019.11.003
Cenamor J, Frishammar J (2021) Openness in platform ecosystems: Innovation strategies for complementary products. Res Policy 50(1):104148. https://doi.org/10.1016/j.respol.2020.104148
Chatterjee S, Moody G, Lowry PB, Chakraborty S, Hardin A (2020) Information technology and organizational innovation: Harmonious information technology affordance and courage-based actualization. J Strateg Inf Syst 29(1):101596. https://doi.org/10.1016/j.jsis.2020.101596
Chatterjee S, Khorana S, Kizgin H (2022) Harnessing the potential of artificial intelligence to foster citizens’ satisfaction: An empirical study on India. Gov Inf Q 39(4):101621. https://doi.org/10.1016/j.giq.2021.101621
Chaudhuri A, Subramanian N, Dora M (2022a) Circular economy and digital capabilities of SMEs for providing value to customers: combined resource-based view and ambidexterity perspective. J Bus Res 142:32–44. https://doi.org/10.1016/j.jbusres.2021.12.039
Chaudhuri R, Chatterjee S, Vrontis D, Chaudhuri S (2022b) Innovation in SMEs, AI dynamism, and sustainability: the current situation and way forward. Sustainability 14(19):12760. https://doi.org/10.3390/su141912760
Chege SM, Wang D (2020) The influence of technology innovation on SME performance through environmental sustainability practices in Kenya. Technol Soc 60:101210. https://doi.org/10.1016/j.techsoc.2019.101210
Chesbrough H (2017) The future of open innovation: The future of open innovation is more extensive, more collaborative, and more engaged with a wider variety of participants. Res Technol Manag 60(1):35–38. https://doi.org/10.1080/08956308.2017.1255054
Cheung GW, Cooper-Thomas HD, Lau RS, Wang LC (2023) Reporting reliability, convergent and discriminant validity with structural equation modeling: A review and best-practice recommendations. Asia Pacific Journal of Management 1:1–39. https://doi.org/10.1007/s10490-023-09871-y
Chin YW, Lim ES (2018) Policies and performance of SMEs in Malaysia. J Southeast Asian Economies. 35(3):470–487
Cui W, Li L, Chen G (2022) Market-value oriented or technology-value oriented?——Location impacts of industry-university-research (IUR) cooperation bases on innovation performance. Technol Soc 70:102025. https://doi.org/10.1016/j.techsoc.2022.102025
Dash G, Paul J (2021) CB-SEM vs PLS-SEM methods for research in social sciences and technology forecasting. Technol Forecast Soc Chang 173:121092. https://doi.org/10.1016/j.techfore.2021.121092
De Boer B (2023) Explaining multistability: Postphenomenology and affordances of technologies. AI & Soc 38(6):2267–2277. https://doi.org/10.1007/s00146-021-01272-3
Del Giudice M, Scuotto V, Papa A, Tarba SY, Bresciani S, Warkentin M (2021) A self-tuning model for smart manufacturing SMEs: Effects on digital innovation. J Prod Innov Manag 38(1):68–89. https://doi.org/10.1111/jpim.12560
Dethine, B., Enjolras, M., & Monticolo, D. (2020). Digitalization and SMEs’ export management: Impacts on resources and capabilities. Technology Innovation Management Review. 10(4):18. https://doi.org/10.22215/timreview/1344
Doane DP, Seward LE (2011) Measuring skewness: a forgotten statistic? J Stat Educ 19(2):0. https://doi.org/10.1080/10691898.2011.11889611
Dolata U (2009) Technological innovations and sectoral change: transformative capacity, adaptability, patterns of change: an analytical framework. Res Policy 38(6):1066–1076. https://doi.org/10.1016/j.respol.2009.03.006
dos Santos PM, Cirillo MÂ (2023) Construction of the average variance extracted index for construct validation in structural equation models with adaptive regressions. Communications in Statistics-Simulation and Computation 52(4):1639–1650. https://doi.org/10.1080/03610918.2021.1888122
Dubey R, Gunasekaran A, Childe SJ, Bryde DJ, Giannakis M, Foropon C, Hazen BT (2020) Big data analytics and artificial intelligence pathway to operational performance under the effects of entrepreneurial orientation and environmental dynamism: a study of manufacturing organisations. Int J Prod Econ 226:107599. https://doi.org/10.1016/j.ijpe.2019.107599
Dutta G, Kumar R, Sindhwani R, Singh RK (2020) Digital transformation priorities of India’s discrete manufacturing SMEs–a conceptual study in perspective of Industry 4.0. Competitiveness Review: an International Business Journal 30(3):289–314. https://doi.org/10.1108/CR-03-2019-0031
Dwivedi YK, Hughes L, Ismagilova E, Aarts G, Coombs C, Crick T, Williams MD (2021) Artificial Intelligence (AI): Multidisciplinary perspectives on emerging challenges, opportunities, and agenda for research, practice and policy. Int J Inf Manage 57:101994. https://doi.org/10.1016/j.ijinfomgt.2019.08.002
Dyduch W, Chudziński P, Cyfert S, Zastempowski M (2021) Dynamic capabilities, value creation and value capture: Evidence from SMEs under Covid-19 lockdown in Poland. PLoS ONE 16(6):e0252423. https://doi.org/10.1371/journal.pone.0252423
Elia G, Margherita A, Passiante G (2020) Digital entrepreneurship ecosystem: How digital technologies and collective intelligence are reshaping the entrepreneurial process. Technol Forecast Soc Chang 150:119791. https://doi.org/10.1016/j.techfore.2019.119791
Enholm IM, Papagiannidis E, Mikalef P, Krogstie J (2022) Artificial intelligence and business value: A literature review. Inf Syst Front 24(5):1709–1734. https://doi.org/10.1007/s10796-021-10186-w
Firouzi F, Farahani B, Marinšek A (2022) The convergence and interplay of edge, fog, and cloud in the AI-driven Internet of Things (IoT). Inf Syst 107:101840. https://doi.org/10.1016/j.is.2021.101840
Foresti R, Rossi S, Magnani M, Bianco CGL, Delmonte N (2020) Smart society and artificial intelligence: big data scheduling and the global standard method applied to smart maintenance. Engineering 6(7):835–846. https://doi.org/10.1016/j.eng.2019.11.014
Frank B, Herbas-Torrico B, Schvaneveldt SJ (2021) The AI-extended consumer: technology, consumer, country differences in the formation of demand for AI-empowered consumer products. Technol Forecast Soc Chang 172:121018. https://doi.org/10.1016/j.techfore.2021.121018
Freudenreich B, Lüdeke-Freund F, Schaltegger S (2020) A stakeholder theory perspective on business models: value creation for sustainability. J Bus Ethics 166:3–18. https://doi.org/10.1007/s10551-019-04112-z
Ganichev NA, Koshovets OB (2021) Forcing the digital economy: how will the structure of digital markets change as a result of the COVID-19 pandemic. Stud Russ Econ Dev 32:11–22. https://doi.org/10.1134/S1075700721010056
Gao J, Ren L, Yang Y, Zhang D, Li L (2022) The impact of artificial intelligence technology stimuli on smart customer experience and the moderating effect of technology readiness. Int J Emerg Mark 17(4):1123–1142. https://doi.org/10.1108/IJOEM-06-2021-0975
Ghanbarpour T, Gustafsson A (2022) How do corporate social responsibility (CSR) and innovativeness increase financial gains? A customer perspective analysis. J Bus Res 140:471–481. https://doi.org/10.1016/j.jbusres.2021.11.016
Ghobakhloo M, Iranmanesh M (2021) Digital transformation success under Industry 40: A strategic guideline for manufacturing SMEs. J Manuf Technol Manag 32(8):1533–1556. https://doi.org/10.1108/JMTM-11-2020-0455
Ghosh A, Chakraborty D, Law A (2018) Artificial intelligence in Internet of things. CAAI Transactions on Intelligence Technology 3(4):208–218. https://doi.org/10.1049/trit.2018.1008
Guerola-Navarro V, Gil-Gomez H, Oltra-Badenes R, Soto-Acosta P (2022) Customer relationship management and its impact on entrepreneurial marketing: A literature review. International Entrepreneurship and Management Journal 13:1–41. https://doi.org/10.1007/s11365-022-00800-x
Guha A, Grewal D, Kopalle PK, Haenlein M, Schneider MJ, Jung H, Hawkins G (2021) How artificial intelligence will affect the future of retailing. J Retail 97(1):28–41. https://doi.org/10.1016/j.jretai.2021.01.005
Guo H, Wang C, Su Z, Wang D (2020) Technology push or market pull? Strategic orientation in business model design and digital start-up performance. J Prod Innov Manag 37(4):352–372. https://doi.org/10.1111/jpim.12526
Habib S, Hamadneh NN (2021) Impact of perceived risk on consumers technology acceptance in online grocery adoption amid covid-19 pandemic. Sustainability 13(18):10221. https://doi.org/10.3390/su131810221
Haenlein M, Kaplan A (2019) A brief history of artificial intelligence: On the past, present, and future of artificial intelligence. Calif Manage Rev 61(4):5–14. https://doi.org/10.1177/000812561986492
Hair JF Jr, Howard MC, Nitzl C (2020) Assessing measurement model quality in PLS-SEM using confirmatory composite analysis. J Bus Res 109:101–110
Hair JF, Astrachan CB, Moisescu OI, Radomir L, Sarstedt M, Vaithilingam S, Ringle CM (2021) Executing and interpreting applications of PLS-SEM: updates for family business researchers. J Fam Bus Strat 12(3):100392. https://doi.org/10.1016/j.jfbs.2020.100392
Haleem A, Javaid M, Qadri MA, Singh RP, Suman R (2022) Artificial intelligence (AI) applications for marketing: A literature-based study. Int J Intel Net 3(1):119–132. https://doi.org/10.1016/j.ijin.2022.08.005
Hannila H, Kuula S, Harkonen J, Haapasalo H (2022) Digitalisation of a company decision-making system: a concept for data-driven and fact-based product portfolio management. J Decis Syst 31(3):258–279. https://doi.org/10.1080/12460125.2020.1829386
Hansen EB, Bøgh S (2021) Artificial intelligence and internet of things in small and medium-sized enterprises: a survey. J Manuf Syst 58:362–372. https://doi.org/10.1016/j.jmsy.2020.08.009
He L, Xue M, Gu B (2020) Internet-of-things enabled supply chain planning and coordination with big data services: Certain theoretic implications. J Mana Sci Eng 5(1):1–22. https://doi.org/10.1016/j.jmse.2020.03.002
Heubeck T (2023) Managerial capabilities as facilitators of digital transformation? dynamic managerial capabilities as antecedents to digital business model transformation and firm performance. Digital Business 3(1):100053. https://doi.org/10.1016/j.digbus.2023.100053
Hu Q, Lu Y, Pan Z, Gong Y, Yang Z (2021) Can AI artifacts influence human cognition? The effects of artificial autonomy in intelligent personal assistants. Int J Inf Manage 56:102250. https://doi.org/10.1016/j.ijinfomgt.2020.102250
Hussain AA, Al-Turjman F (2021) Artificial intelligence and blockchain: A review. Transactions on Emerging Telecommunications Technologies 32(9):e4268. https://doi.org/10.1002/ett.4268
Jafari H, Ghaderi H, Eslami MH, Malik M (2022) Leveraging supply integration, mass customization and manufacturing flexibility capabilities and the contingency of innovation orientation. Supply Chain Management: an International Journal 27(7):194–210. https://doi.org/10.1108/SCM-05-2022-0177
Jalil MF, Ali A (2023) The influence of meaningful work on the mental health of SME employees in the COVID-19 era: can coping strategies mediate the relationship? BMC Public Health 23(1):1–20. https://doi.org/10.1186/s12889-023-17347-3
Jalil MF, Ali A, Kamarulzaman R (2022) Does innovation capability improve SME performance in Malaysia? The mediating effect of technology adoption. Int J Entrep Innov 23(4):253–267. https://doi.org/10.1177/14657503211048967
Jarrahi MH (2018) Artificial intelligence and the future of work: Human-AI symbiosis in organizational decision making. Bus Horiz 61(4):577–586. https://doi.org/10.1016/j.bushor.2018.03.007
Kahle JH, Marcon É, Ghezzi A, Frank AG (2020) Smart Products value creation in SMEs innovation ecosystems. Technol Forecast Soc Chang 156:120024. https://doi.org/10.1016/j.techfore.2020.120024
Krejcie RV, Morgan DW (1970) Determining sample size for research activities. Educ Psychol Measur 30(3):607–610. https://doi.org/10.1177/001316447003000308
Kshetri N (2021) Evolving uses of artificial intelligence in human resource management in emerging economies in the global South: some preliminary evidence. Manag Res Rev 44(7):970–990. https://doi.org/10.1108/MRR-03-2020-0168
Lalicic L, Weismayer C (2021) Consumers’ reasons and perceived value co-creation of using artificial intelligence-enabled travel service agents. J Bus Res 129:891–901. https://doi.org/10.1016/j.jbusres.2020.11.005
Leckel A, Veilleux S, Dana LP (2020) Local Open Innovation: A means for public policy to increase collaboration for innovation in SMEs. Technol Forecast Soc Chang 153:119891. https://doi.org/10.1016/j.techfore.2019.119891
Li BH, Hou BC, Yu WT, Lu XB, Yang CW (2017) Applications of artificial intelligence in intelligent manufacturing: a review. Front Infor Tech Elec Eng 18:86–96. https://doi.org/10.1631/FITEE.1601885
Libai B, Bart Y, Gensler S, Hofacker CF, Kaplan A, Kötterheinrich K, Kroll EB (2020) Brave new world? On AI and the management of customer relationships. J Interact Mark 51(1):44–56. https://doi.org/10.1016/j.intmar.2020.04.002
Lu Y (2019) Artificial intelligence: a survey on evolution, models, applications and future trends. J Mana Anal 6(1):1–29. https://doi.org/10.1080/23270012.2019.1570365
Lu X, Wijayaratna K, Huang Y, Qiu A (2022) AI-enabled opportunities and transformation challenges for SMEs in the post-pandemic era: a review and research agenda. Front Public Health 10:885067. https://doi.org/10.3389/fpubh.2022.885067
Lyytinen K, Sørensen C, Tilson D (2017) Generativity in digital infrastructures: A research note. In the Routledge Companion to Management Information Systems 0:253–275. https://doi.org/10.4324/9781315619361
Maedche, A., Legner, C., Benlian, A., Berger, B., Gimpel, H., Hess, T., & Söllner, M. (2019). AI-based digital assistants: Opportunities, threats, and research perspectives. Business & Information Systems Engineering, 61, 535–544. https://doi.org/10.1007/s12599-019-00600-8
Mantri A, Mishra R (2023) Empowering small businesses with the force of big data analytics and AI: A technological integration for enhanced business management. J High Technol Managem Res 34(2):100476. https://doi.org/10.1016/j.hitech.2023.100476
Mariani MM, Wamba SF (2020) Exploring how consumer goods companies innovate in the digital age: The role of big data analytics companies. J Bus Res 121:338–352. https://doi.org/10.1016/j.jbusres.2020.09.012
Mariani MM, Perez-Vega R, Wirtz J (2022) AI in marketing, consumer research and psychology: A systematic literature review and research agenda. Psychol Mark 39(4):755–776. https://doi.org/10.1002/mar.21619
Marsh HW, Guo J, Dicke T, Parker PD, Craven RG (2020) Confirmatory factor analysis (CFA), exploratory structural equation modeling (ESEM), and set-ESEM: optimal balance between goodness of fit and parsimony. Multivariate Behav Res. 55(1):102–119. https://doi.org/10.1080/00273171.2019.1602503
Martínez-Martínez A, Cegarra-Navarro JG, Garcia-Perez A, De Valon T (2023) Active listening to customers: eco-innovation through value co-creation in the textile industry. J Knowl Manag 27(7):1810–1829. https://doi.org/10.1108/JKM-04-2022-0309
Marzi G, Marrucci A, Vianelli D, Ciappei C (2023) B2B digital platform adoption by SMEs and large firms: Pathways and pitfalls. Ind Mark Manage 114:80–93. https://doi.org/10.1016/j.indmarman.2023.08.002
Masadeh R. E., Al-Henzab J., Tarhini A., & Obeidat B. Y., (2018). The associations among market orientation, technology orientation, entrepreneurial orientation and organizational performance. Benchmarking: An International Journal. 25(8):3117–3142. https://doi.org/10.1108/BIJ-02-2017-0024
Matarazzo M, Penco L, Profumo G, Quaglia R (2021) Digital transformation and customer value creation in Made in Italy SMEs: a dynamic capabilities perspective. J Bus Res 123:642–656. https://doi.org/10.1016/j.jbusres.2020.10.033
McAdams DP, de St Aubin ED (1992) A theory of generativity and its assessment through self-report, behavioral acts, and narrative themes in autobiography. J Pers Soc Psychol 62(6):1003. https://doi.org/10.1037/0022-3514.62.6.1003
Meier A, Peters M (2023) Limited engagement of SMEs with social media: A structuration and sensemaking perspective. Information & Management 60(7):103853. https://doi.org/10.1016/j.im.2023.103853
Memon AH, Rahman IA (2014) SEM-PLS analysis of inhibiting factors of cost performance for large construction projects in Malaysia: perspective of clients and consultants. Sci World J 13(2014):165158. https://doi.org/10.1155/2014/165158
Menne F, Surya B, Yusuf M, Suriani S, Ruslan M, Iskandar I (2022) Optimizing the financial performance of smes based on sharia economy: perspective of economic business sustainability and open innovation. Journal of Open Innovation: Technology, Market, and Complexity 8(1):18. https://doi.org/10.3390/joitmc8010018
Mökander J, Schroeder R (2022) AI and social theory. AI & Soc 37(4):1337–1351. https://doi.org/10.1007/s00146-021-01222-z
Mubarak MF, Petraite M (2020) Industry 4.0 technologies, digital trust and technological orientation: What matters in open innovation? Technol Forecast Soc Chang 161:120332. https://doi.org/10.1016/j.techfore.2020.120332
Naradda Gamage SK, Ekanayake EMS, Abeyrathne GAKNJ, Prasanna RPIR, Jayasundara JMSB, Rajapakshe PSK (2020) A review of global challenges and survival strategies of small and medium enterprises (SMEs). Economies 8(4):79. https://doi.org/10.3390/economies8040079
Nardo M, Forino D, Murino T (2020) The evolution of man–machine interaction: The role of human in Industry 40 paradigm. Production & Manufacturing Research 8(1):20–34. https://doi.org/10.1080/21693277.2020.1737592
NassarSalah MK, Rehman MH, Svetinovic D (2020) Blockchain for explainable and trustworthy artificial intelligence. Wiley Interdisciplinary Reviews: Data Mining and Knowledge Discovery 10(1):e1340. https://doi.org/10.1002/widm.1340
Neligan A, Baumgartner RJ, Geissdoerfer M, Schöggl JP (2023) Circular disruption: Digitalisation as a driver of circular economy business models. Bus Strateg Environ 32(3):1175–1188. https://doi.org/10.1002/bse.3100
Ng KK, Chen CH, Lee CK, Jiao JR, Yang ZX (2021) A systematic literature review on intelligent automation: Aligning concepts from theory, practice, and future perspectives. Adv Eng Inform 47:101246. https://doi.org/10.1016/j.aei.2021.101246
Nishant R, Kennedy M, Corbett J (2020) Artificial intelligence for sustainability: challenges, opportunities, and a research agenda. Int J Inf Manage 53:102104. https://doi.org/10.1016/j.ijinfomgt.2020.102104
Nobari N, Dehkordi AM (2023) Innovation intelligence in managing co-creation process between tech-enabled corporations and startups. Technol Forecast Soc Chang 186:122107. https://doi.org/10.1016/j.techfore.2022.122107
Nugroho A, Prijadi R, Kusumastuti RD (2022) Strategic orientations and firm performance: the role of information technology adoption capability. J Strateg Manag 15(4):691–717. https://doi.org/10.1108/JSMA-06-2021-0133
Osterrieder P, Budde L, Friedli T (2020) The smart factory as a key construct of industry 4.0: a systematic literature review. Int J Prod Econ 221:107476. https://doi.org/10.1016/j.ijpe.2019.08.011
Palmié M, Wincent J, Parida V, Caglar U (2020) The evolution of the financial technology ecosystem: An introduction and agenda for future research on disruptive innovations in ecosystems. Technol Forecast Soc Chang 151:119779. https://doi.org/10.1016/j.techfore.2019.119779
Pelau C, Dabija DC, Ene I (2021) What makes an AI device human-like? The role of interaction quality, empathy and perceived psychological anthropomorphic characteristics in the acceptance of artificial intelligence in the service industry. Comput Hum Behav 122:106855. https://doi.org/10.1016/j.chb.2021.106855
Pfister P, Lehmann C (2022) Digital value creation in German SMEs–a return-on-investment analysis. J Small Bus Entrep 0:1–26. https://doi.org/10.1080/08276331.2022.2037065
Pfister P, Lehmann C (2023) Returns on digitisation in SMEs—a systematic literature review. J Small Bus Entrep 35(4):574–598. https://doi.org/10.1080/08276331.2021.1980680
Pinarbasi F, Sonmez Cakir F, Güner Gültekin D, Yazici M, Adiguzel Z (2023) Examination of the effects of value creation, intellectual property and organizational creativity on artificial intelligence focused enterprises. Bus Process Manag J. https://doi.org/10.1108/BPMJ-07-2023-0551
Pirola F, Boucher X, Wiesner S, Pezzotta G (2020) Digital technologies in product-service systems: a literature review and a research agenda. Comput Ind 123:103301. https://doi.org/10.1016/j.compind.2020.103301
Pitardi V, Marriott HR (2021) Alexa, she’s not human but… Unveiling the drivers of consumers’ trust in voice-based artificial intelligence. Psychol Mark 38(4):626–642. https://doi.org/10.1002/mar.21457
Presbitero A (2021) Communication accommodation within global virtual team: The influence of cultural intelligence and the impact on interpersonal process effectiveness. J Int Manag 27(1):100809. https://doi.org/10.1016/j.intman.2020.100809
Raihan A (2023) Economy-energy-environment nexus: the role of information and communication technology towards green development in Malaysia. Innovation and Green Development 2(4):100085. https://doi.org/10.1016/j.igd.2023.100085
Ramdani B, Raja S, Kayumova M (2022) Digital innovation in SMEs: a systematic review, synthesis and research agenda. Inf Technol Dev 28(1):56–80. https://doi.org/10.1080/02681102.2021.1893148
Rapaccini M, Saccani N, Kowalkowski C, Paiola M, Adrodegari F (2020) Navigating disruptive crises through service-led growth: the impact of COVID-19 on Italian manufacturing firms. Ind Mark Manage 88:225–237. https://doi.org/10.1016/j.indmarman.2020.05.017
Rashidirad M, Salimian H (2020) SMEs’ dynamic capabilities and value creation: the mediating role of competitive strategy. Eur Bus Rev 32(4):591–613. https://doi.org/10.1108/EBR-06-2019-0113
Rasoolimanesh SM, Wang M, Roldan JL, Kunasekaran P (2021) Are we in right path for mediation analysis? Reviewing the literature and proposing robust guidelines. J Hosp Tour Manag 48:395–405. https://doi.org/10.1016/j.jhtm.2021.07.013
Ricci R, Battaglia D, Neirotti P (2021) External knowledge search, opportunity recognition and industry 40 adoption in SMEs. Int J Prod Econ 240:108234. https://doi.org/10.1016/j.ijpe.2021.108234
Richter NF, Hauff S, Ringle CM, Gudergan SP (2022) The use of partial least squares structural equation modeling and complementary methods in international management research. Manag Int Rev 62(4):449–470. https://doi.org/10.1007/s11575-022-00475-0
Ringle CM, Sarstedt M, Sinkovics N, Sinkovics RR (2023) A perspective on using partial least squares structural equation modelling in data articles. Data Brief 48:109074. https://doi.org/10.1016/j.dib.2023.109074
Rintamäki T, Saarijärvi H (2021) An integrative framework for managing customer value propositions. J Bus Res 134:754–764. https://doi.org/10.1016/j.jbusres.2021.05.030
Ritala P, Stefan I (2021) A paradox within the paradox of openness: The knowledge leveraging conundrum in open innovation. Ind Mark Manage 93:281–292. https://doi.org/10.1016/j.indmarman.2021.01.011
Rodrigues M, Franco M, Silva R, Oliveira C (2021) Success factors of SMEs: empirical study guided by dynamic capabilities and resources-based view. Sustainability 13(21):12301. https://doi.org/10.3390/su132112301
Saarikko T, Westergren UH, Blomquist T (2020) Digital transformation: five recommendations for the digitally conscious firm. Bus Horiz 63(6):825–839. https://doi.org/10.1016/j.bushor.2020.07.005
Sanders MR, Morawska A, Haslam DM, Filus A, Fletcher R (2014) Parenting and Family Adjustment Scales (PAFAS): Validation of a brief parent-report measure for use in assessment of parenting skills and family relationships. Child Psychiatry Hum Dev 45:255–272. https://doi.org/10.1007/s10578-013-0397-3
Sarker IH (2022) Ai-based modeling: Techniques, applications and research issues towards automation, intelligent and smart systems. SN Computer Science 3(2):158. https://doi.org/10.1007/s42979-022-01043-x
Sarstedt M, Hair JF Jr, Cheah JH, Becker JM, Ringle CM (2019) How to specify, estimate, and validate higher-order constructs in PLS-SEM. Australas Mark J 27(3):197–211. https://doi.org/10.1016/j.ausmj.2019.05.003
Serumaga-Zake JM, Van der Poll JA (2021) Addressing the impact of fourth industrial revolution on South African manufacturing small and medium enterprises (SMEs). Sustainability 13(21):11703. https://doi.org/10.3390/su132111703
Sewpersadh NS (2023) Disruptive business value models in the digital era. Journal of Innovation and Entrepreneurship 12(1):1–27. https://doi.org/10.1186/s13731-022-00252-1
Sheykhfard A, Haghighi F (2020) Driver distraction by digital billboards? Structural equation modeling based on naturalistic driving study data: a case study of Iran. J Safety Res 72:1–8. https://doi.org/10.1016/j.jsr.2019.11.002
Shin D (2022a) How do people judge the credibility of algorithmic sources? AI & Soc 37:1–16. https://doi.org/10.1007/s00146-021-01158-4
Shin D (2022b) The actualization of meta affordances: Conceptualizing affordance actualization in the metaverse games. Comput Hum Behav 133:107292. https://doi.org/10.1016/j.chb.2022.107292
Shin DD (2023) Algorithms, humans, and interactions: How do algorithms interact with people? Taylor & Francis, Designing meaningful AI experiences. https://doi.org/10.1201/b23083
Shin D, Hwang Y (2020) The effects of security and traceability of blockchain on digital affordance. Online Inf Rev 44(4):913–932. https://doi.org/10.1108/OIR-01-2019-0013
Shin D, Park YJ (2019) Role of fairness, accountability, and transparency in algorithmic affordance. Comput Hum Behav 98:277–284. https://doi.org/10.1016/j.chb.2019.04.019
Shin D, Lim JS, Ahmad N, Ibahrine M (2022) Understanding user sensemaking in fairness and transparency in algorithms: algorithmic sensemaking in over-the-top platform. AI & Soc 39(2):1–14. https://doi.org/10.1007/s00146-022-01525-9
Sigov A, Ratkin L, Ivanov LA, Xu LD (2022) Emerging enabling technologies for industry 4.0 and beyond. Inf Syst Front 0:1–11. https://doi.org/10.1007/s10796-021-10213-w
Singh R, Charan P, Chattopadhyay M (2023) Relational capabilities and performance: examining the moderation-mediation effect of organisation structures and dynamic capability. Knowl Manag Res Pract 21(1):92–106. https://doi.org/10.1080/14778238.2020.1843984
Sjödin D, Parida V, Palmié M, Wincent J (2021) How AI capabilities enable business model innovation: Scaling AI through co-evolutionary processes and feedback loops. J Bus Res 134:574–587. https://doi.org/10.1016/j.jbusres.2021.05.009
Sundaram S, Zeid A (2023) Artificial intelligence-based smart quality inspection for manufacturing. Micromachines 14(3):570. https://doi.org/10.3390/mi14030570
Teoh MF, Ahmad NH, Abdul-Halim H, Ramayah T (2022) Is Digital Business Model Innovation the Silver Bullet for SMEs Competitiveness in Digital Era? Vision, Evidence from a Developing Nation. https://doi.org/10.1177/09722629221074771
Tewari A, Singh R, Mathur S, Pande S (2023) A modified UTAUT framework to predict students’ intention to adopt online learning: moderating role of openness to change. The International Journal of Information and Learning Technology 40(2):130–147. https://doi.org/10.1108/IJILT-04-2022-0093
Tezel A, Papadonikolaki E, Yitmen I, Hilletofth P (2020) Preparing construction supply chains for blockchain technology: an investigation of its potential and future directions. Frontiers of Engineering Management 7:547–563. https://doi.org/10.1007/s42524-020-0110-8
Thomas LD, Tee R (2022) Generativity: A systematic review and conceptual framework. Int J Manag Rev 24(2):255–278. https://doi.org/10.1111/ijmr.12277
Tian H, Otchere SK, Coffie CP, Mensah IA, Baku RK (2021) Supply chain integration, interfirm value co-creation and firm performance nexus in Ghanaian SMEs: mediating roles of stakeholder pressure and innovation capability. Sustainability 13(4):2351. https://doi.org/10.3390/su13042351
Trabert T, Beiner S, Lehmann C, Kinkel S (2022) Digital Value Creation in sociotechnical Systems: Identification of challenges and recommendations for human work in manufacturing SMEs. Procedia Computer Science 200:471–481. https://doi.org/10.1016/j.procs.2022.01.245
Trivedi K, Srivastava KB (2022) The role of knowledge management processes in leveraging competitive strategies to achieve firm innovativeness. The Bottom Line 35(2/3):53–72. https://doi.org/10.1108/BL-06-2021-0071
Trocin C, Hovland IV, Mikalef P, Dremel C (2021) How Artificial Intelligence affords digital innovation: A cross-case analysis of Scandinavian companies. Technol Forecast Soc Chang 173:121081. https://doi.org/10.1016/j.techfore.2021.121081
Troise C, Corvello V, Ghobadian A, O’Regan N (2022) How can SMEs successfully navigate VUCA environment: The role of agility in the digital transformation era. Technol Forecast Soc Chang 174:121227. https://doi.org/10.1016/j.techfore.2021.121227
Tsai JP, Ho CF (2013) Does design matter? Affordance perspective on smartphone usage. Ind Manag Data Syst 113(9):1248–1269. https://doi.org/10.1108/IMDS-04-2013-0168
Tsou HT, Chen JS, Liao WH (2014) Market and technology orientations for service delivery innovation: the link of innovative competence. Journal of Business & Industrial Marketing 29(6):499–513. https://doi.org/10.1108/JBIM-09-2011-0128
Ulrich P, Frank V (2021) Relevance and adoption of AI technologies in German SMEs–results from survey-based research. Procedia Computer Science 192:2152–2159. https://doi.org/10.1016/j.procs.2021.08.228
Ünal E, Urbinati A, Chiaroni D, Manzini R (2019) Value Creation in Circular Business Models: The case of a US small medium enterprise in the building sector. Resour Conserv Recycl 146:291–307. https://doi.org/10.1016/j.resconrec.2018.12.034
Upadhyay N, Upadhyay S, Dwivedi YK (2022) Theorizing artificial intelligence acceptance and digital entrepreneurship model. Int J Entrep Behav Res 28(5):1138–1166. https://doi.org/10.1108/IJEBR-01-2021-0052
Upadhyay N, Upadhyay S, Al-Debei MM, Baabdullah AM, Dwivedi YK (2023) The influence of digital entrepreneurship and entrepreneurial orientation on intention of family businesses to adopt artificial intelligence: examining the mediating role of business innovativeness. Int J Entrep Behav Res 29(1):80–115. https://doi.org/10.1108/IJEBR-02-2022-0154
Usai A, Fiano F, Petruzzelli AM, Paoloni P, Briamonte MF, Orlando B (2021) Unveiling the impact of the adoption of digital technologies on firms’ innovation performance. J Bus Res 133:327–336. https://doi.org/10.1016/j.jbusres.2021.04.035
Ventura-León J, Peña-Calero BN, Burga-León A (2023) The effect of normality and outliers on bivariate correlation coefficients in psychology: a Monte Carlo simulation. J Gen Psychol 150(4):405–422. https://doi.org/10.1080/00221309.2022.2094310
Vogel R, Güttel WH (2013) The dynamic capability view in strategic management: A bibliometric review. Int J Manag Rev 15(4):426–446. https://doi.org/10.1111/ijmr.12000
Voorhees CM, Brady MK, Calantone R, Ramirez E (2016) Discriminant validity testing in marketing: an analysis, causes for concern, and proposed remedies. J Acad Mark Sci 44:119–134. https://doi.org/10.1007/s11747-015-0455-4
Vrontis D, Chaudhuri R, Chatterjee S (2022) Adoption of digital technologies by SMEs for sustainability and value creation: Moderating role of entrepreneurial orientation. Sustainability 14(13):7949. https://doi.org/10.3390/su14137949
Wang J, Lu Y, Fan S, Hu P, Wang B (2022) How to survive in the age of artificial intelligence? Exploring the intelligent transformations of SMEs in central China. Int J Emerg Mark 17(4):1143–1162. https://doi.org/10.1108/IJOEM-06-2021-0985
Wei R, Pardo C (2022) Artificial intelligence and SMEs: How can B2B SMEs leverage AI platforms to integrate AI technologies? Ind Mark Manage 107:466–483. https://doi.org/10.1016/j.indmarman.2022.10.008
Wielgos DM, Homburg C, Kuehnl C (2021) Digital business capability: its impact on firm and customer performance. J Acad Mark Sci 49(4):762–789. https://doi.org/10.1007/s11747-021-00771-5
Williams LD (2021) Concepts of Digital Economy and Industry 4.0 in Intelligent and information systems. International Journal of Intelligent Networks 2:122–129. https://doi.org/10.1016/j.ijin.2021.09.002
Wu Y, Nambisan S, Xiao J, Xie K (2022) Consumer resource integration and service innovation in social commerce: the role of social media influencers. J Acad Mark Sci 50(3):429–459. https://doi.org/10.1007/s11747-022-00837-y
Wulf J, Blohm I (2020) Fostering value creation with digital platforms: A unified theory of the application programming interface design. J Manag Inf Syst 37(1):251–281. https://doi.org/10.1080/07421222.2019.1705514
Wulff K, Finnestrand H (2023) Creating meaningful work in the age of AI: explainable AI, explainability, and why it matters to organizational designers. AI & Soc 0:1–14. https://doi.org/10.1007/s00146-023-01633-0
Yana AGA, Rusdhi HA, Wibowo MA (2015) Analysis of factors affecting design changes in construction project with Partial Least Square (PLS). Procedia Engineering 125:40–45. https://doi.org/10.1016/j.proeng.2015.11.007
Yang M, Fu M, Zhang Z (2021) The adoption of digital technologies in supply chains: Drivers, process and impact. Technol Forecast Soc Chang 169:120795. https://doi.org/10.1016/j.techfore.2021.120795
Yao J, Crupi A, Di Minin A, Zhang X (2020) Knowledge sharing and technological innovation capabilities of Chinese software SMEs. J Knowl Manag 24(3):607–634. https://doi.org/10.1108/JKM-08-2019-0445
Yavuz O, Uner MM, Okumus F, Karatepe OM (2023) Industry 4.0 technologies, sustainable operations practices and their impacts on sustainable performance. J Clean Prod 387:135951. https://doi.org/10.1016/j.jclepro.2023.135951
Yousaf S, Anser MK, Tariq M, Sahibzada Jawad SUR, Naushad S, Yousaf Z (2020) Does technology orientation predict firm performance through firm innovativeness? World Journal of Entrepreneurship, Management and Sustainable Development 17(1):140–151. https://doi.org/10.1108/WJEMSD-11-2019-0091
Zaborek P, Mazur J (2019) Enabling value co-creation with consumers as a driver of business performance: a dual perspective of Polish manufacturing and service SMEs. J Bus Res 104:541–551. https://doi.org/10.1016/j.jbusres.2018.12.067
Zangiacomi A, Pessot E, Fornasiero R, Bertetti M, Sacco M (2020) Moving towards digitalization: a multiple case study in manufacturing. Production Planning & Control 31(2–3):143–157. https://doi.org/10.1080/09537287.2019.1631468
Zhang MF, Dawson JF, Kline RB (2021) Evaluating the use of covariance-based structural equation modelling with reflective measurement in organizational and management research: A review and recommendations for best practice. Br J Manag 32(2):257–272. https://doi.org/10.1111/1467-8551.12415
Zhu Y, Zhang H, Siddik AB, Zheng Y, Sobhani FA (2023) Understanding Corporate Green Competitive Advantage through Green Technology Adoption and Green Dynamic Capabilities: Does Green Product Innovation Matter? Systems 11(9):461. https://doi.org/10.3390/systems11090461
Zutshi A, Mendy J, Sharma GD, Thomas A, Sarker T (2021) From challenges to creativity: Enhancing SMEs’ resilience in the context of COVID-19. Sustainability 13(12):6542. https://doi.org/10.3390/su13126542
Acknowledgements
We would like to express our sincere gratitude to Universiti Malaysia Sarawak (UNIMAS) for their invaluable support and provision of research facilities throughout the course of this study. The access to these facilities played a pivotal role in the successful execution of our research, and we deeply appreciative of the university’s commitment to fostering an environment conducive to academic and scientific exploration.
Author information
Authors and Affiliations
Corresponding author
Ethics declarations
Conflict of interest
No potential conflict of interest was reported by the authors.
Additional information
Publisher's Note
Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.
Rights and permissions
Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law.
About this article
Cite this article
Jalil, M.F., Lynch, P., Marikan, D.A.B.A. et al. The influential role of artificial intelligence (AI) adoption in digital value creation for small and medium enterprises (SMEs): does technological orientation mediate this relationship?. AI & Soc (2024). https://doi.org/10.1007/s00146-024-01969-1
Received:
Accepted:
Published:
DOI: https://doi.org/10.1007/s00146-024-01969-1