Publication: The Impacts of Innovation Attribute, Business Environment, and Risk Management on the Artificial Intelligence Investment Decision in Oman?s Hydrocarbons Industry
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Date
2024
Authors
Al-Haji Y.K.
Bte. Bakar S.
Journal Title
Journal ISSN
Volume Title
Publisher
Elite Scientific Publications
Abstract
Artificial intelligence (AI) has become a pioneering technology in the new era for the hydrocarbon industry across the globe. The objective of this study was to assess the effects of innovation attributes, business environment, and risk management on AI investment decision in Oman?s hydrocarbon industry. This study is a quantitative study using a questionnaire addressed to employees of Oman?s hydrocarbons industry with a total of 367 respondents. Hypotheses were tested using the Smart PLS 4.0 statistical tool. The results showed that relative advantage of innovation attribute of AI has a significant positive relationship with AI investment decision (coefficient = 0.09, p < 0.05). The relationship between the compatibility of the innovation attribute of AI and AI investment decision was significant (coefficient = 0.12, p < 0.05). The observability of the innovation attribute of AI has no significant relationship with AI investment decision (coefficient = 0.04, p > 0.05). Government factors (coefficient = 0.13, p < 0.05), knowledge capability (coefficient = 0.16, p < 0.05), risk management (coefficient = 0.14, p < 0.05), and economic instability (coefficient = -0.12, p < 0.05), have a significant relationship with AI investment decision. Management structure has a significant positive relationship with AI investment decision (coefficient = 0.14, p < 0.05). There is no relationship between physical facilities? unobtainability and AI investment decision. The conclusion is that the following factors have a significant relationship with AI investment decision, namely: relative advantage and compatibility of innovation attributes of AI, government and economic factors, knowledge capability, risk management, and management structure. ? (2024), (Elite Scientific Publications). All rights reserved.