Challenges of applying artificial intelligence in business in Serbia
Challenges of applying artificial intelligence in business in Serbia

Author(s): Lidija Madžar, Miloš Todorov
Subject(s): Politics / Political Sciences, Politics, Economy, Business Economy / Management, Labor relations, Economic policy, Security and defense, Public Finances, ICT Information and Communications Technologies, Business Ethics
Published by: Висше училище по сигурност и икономика (ВУСИ)
Keywords: artificial intelligence (AI); data privacy protection; Serbia; trust; safety of AI use
Summary/Abstract: Artificial intelligence (AI) has a huge potential in various aspects of our modern personal and business life, changing the way we live, act, analyse data, think, decide and draw conclusions. AI brings numerous benefits to contemporary society, by enhancing business functions, improving business results and consumer satisfaction, facilitating data analysis and automating business processes. However, the use of AI also brings a number of challenges and obstacles, which raise numerous ethical implications and call into question the credibility of its use. In addition to the AI shortcomings and limitations, this article also analyses the state and scope of its using in the Serbian business sector with the purpose of providing a deeper insight into these important issues. Despite the proactive attitude of the Serbian Government towards the AI adoption at the national level, in Serbia the application of AI technologies in the business sector is still in its infancy. Although the country has great potential for the growth of the use of AI systems, especially in traditional industries, it is necessary to invest additional efforts in education, human capital development, automation of business processes and strategic investments as key factors for the expansion of the use of AI technologies. In Serbia, a small number of companies still use AI technologies, while they are more present in large and medium-sized companies, as well as in ICT, professional, scientific, innovation and technical activities. Bearing in mind the numerous AI-related challenges faced by companies in Serbia, it is necessary to develop adequate legal solutions that will insist on encouraging trust, reliability and safety of the use of AI, but also on protecting data privacy.

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