Applying Large Language Models in Business Processes : A contribution to Management Innovation

Sammanfattning

This master thesis explores the transformative potential of Large Language Models (LLMs) in enhancing business processes across various industries, with a specific focus on Management Innovation. As organizations face the pressures of digitalization, LLMs emerge as powerful tools that can revolutionize traditional business workflows through enhanced decision-making, automation of routine tasks, and improved operational efficiency. The research investigates the integration of LLMs within four key business domains: Human Resources, Tender Management, Consultancy, and Compliance. It highlights how LLMs facilitate Management Innovation by enabling new forms of workflow automation, data analysis, and compliance management, thus driving substantial improvements in efficiency and innovation. Employing a mixed-method approach, the study combines an extensive literature review with surveys and interviews with industry professionals to evaluate the impact and practical applications of LLMs. The findings reveal that LLMs not only offer significant operational benefits but also pose challenges related to data security, integration complexities, and privacy concerns. This thesis significantly contributes to the academic and practical understanding of LLMs, proposing a framework for their strategic adoption to foster Management Innovation. It underscores the need for businesses to align LLM integration with both technological capabilities and strategic business objectives, paving the way for a new era of management practices shaped by advanced technologies.