The Role of AI and Generative AI in US Business Innovations, Applications, Challenges, and Future Trends

Abstract

The accelerated progression of machine intelligence and generative AI (GenAI) is escalating the landscape of U.S. business, introducing transformative opportunities while raising critical societal questions. This review article systematically examines four key dimensions of AI's impact: technological innovations, practical applications, emerging challenges, and future directions. Regarding innovation, we analyse the way automatic learning breakthroughs and the ability of the GenAI to change data analysis and decision-making processes and interact with the machine. Real-world deployment is being applied in key areas such as personal health diagnosis, smart financial forecasts, dynamic commitments from retail customers, and smart production systems. However, these technological dance moves come with significant challenges, especially related to the transformation of the labour force, the moral significance of automatic decision-making, data security issues and the need for an updated legal framework. Our analysis shows that solving these problems requires cooperation among decision-makers, business leaders and technology developers. By looking at future trends, we find exciting advancements in AI systems that are user-friendly, training models for a flexible workforce, and strategies for integrating AI that ensure innovation is balanced with social responsibility. This assessment, by synthesizing current experimental studies with real-world data, offers valuable insights for companies pursuing AI applications. We emphasize the importance of developing AI solutions that focus on improving human abilities rather than replacing them, and we propose active management methods to achieve this goal. The results provide a roadmap for responsible AI implementation in American companies and the basis for future research in this rapidly developing field.