MBA Journals Peer-reviewed management research from Consortium e-Learning Network

NOLEGEIN Journal of Entrepreneurship Planning, Development and Management

Impact of AI in Economic Development of Jharkhand. A Paradigm shifted to MSME Sector in Ranchi District. (With Special Reference to Textile Industry

  1. Priya Lakhotia

Abstract

MSME sector has a great significance and contribution in the economy of any country, and it contributes around 29% of the total country GDP. The continuous growth of MSME sector is dependent upon several factors and adoption of new technologies including Artificial Intelligence is of utmost importance for the steady growth of the MSME sector. For the citizens, this industry creates millions of direct and indirect work opportunities. In the present era the computers, especially the artificial intelligence has taken over the humans’ efforts and made the working procedure very quick, easier and accurate. The introduction of AI in the field of MSME sector will set the new benchmarks and change the entire working procedure different and more productive. One of major objectives of the researcher was to find out the introduction of AI in the MSME Sector and measuring its impacts. The researcher combined descriptive and exploratory research methods in this study. The primary data was collected from the employees working in Textile industries in Ranchi and secondary data was collected from research articles, books, newspapers and websites. As per the finding of the researcher it is inevitable to incorporate the artificial intelligence and new technologies even in the field of MSME sector for its steady growth. This research work will prove to be beneficial for the industry, academia and society as a whole as it will unfold many hidden issues related to the implementation of AI in MSME sector
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