With the emergence of artificial intelligence (AI), the technological revolution has transformed human lives and processes, empowering the products and services in today’s marketplaces. AI introduces new ways of doing jobs and business, and of exploring new global market opportunities. However, on the other hand, it provides many challenges to comprehend. Therefore, our study’s main objective was to examine the behavioral, cultural, ethical, social, and economic challenges of AI-enabled products and services in consumer markets and discuss how businesses might shape their approaches to address AI-related ethical issues. AI offers numerous social, ethical, and behavioral difficulties for people, organizations, and societies that endanger the sustainable development of economies. These fundamental challenges due to AI technologies have raised serious questions for the sustainable development of electronic markets. Based on this, the current study presents a framework highlighting these issues. Systematic reviewing was our research method; we looked for explicit information and methods that indicate the credibility of research or reduce biases. This paper is of great importance, as it highlights several behavioral, societal, ethical, and cultural aspects in electronic markets which were not presented in previous studies. Some key issues are the security and privacy of consumers, AI biases, individual autonomy, wellbeing, and issues of unemployment. Therefore, companies that use AI systems need to be socially responsible and make AI systems as secure as possible to promote the sustainable development of countries. The results suggest that AI has undoubtedly transformed life and has both positive and negative effects. However, the main aim regarding AI should be to use it for the overall goals of humanity. Moreover, authorities operating in e-business environments need to create proper rules and regulations and make the systems as secure as possible for people.
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