Abstract:

The development of digital technologies is one of the key phenomena shaping the operating conditions of contemporary businesses. Digital technologies are a source of new products and services, are increasingly used in management practices, and significantly influence growth and competitive strategies. It is widely believed that the pace of digital technological development is accelerating considerably and that, together with advances in artificial intelligence (AI), these technologies will have an increasingly profound impact on the world around us. This article aims to identify the current stage of digitalization in the context of its potential for further development and to assess the impact of ICT technologies on the conditions in which businesses operate, the strategies they pursue, and the methods used to formulate those strategies. The article draws on a review of the literature and research findings concerning the development and implementation of digital technologies. It then examines the potential impact of ICT technologies and AI on growth strategies and strategy formulation processes. The findings support the proposition that, despite considerable progress, we are still in the early stages of business digital transformation and AI development.