Utilizing AI in Business and Entrepreneurship: Implications for Complex Decision‐Making in Engineering and Product Development Settings

Artificial intelligence (AI) is rapidly transforming decision‐making in business and entrepreneurship, with particularly significant implications for engineering and product development. This paper reviews existing literature and theoretical models to elucidate AI's role in strategic decision‐making, while also identifying critical gaps in current research. To gain a comprehensive perspective, we employed a mixed‐methods approach comprising surveys of 105 industry professionals and semi‐structured interviews with key stakeholders. Our findings indicate that, although AI integration improves operational efficiency and enhances strategic insights, challenges related to data privacy, ethical concerns, and workforce training persist. These results underscore the need for balanced human–AI collaboration and robust governance frameworks to fully realize AI's potential in complex decision‐making environments.