Transforming Businesses: The Impact of Technology on Traditional Corporate Paradigms

Katherine Temple ODAFEVERORO; Darlington Osaremwinda OGBEIDE; Alasa Paul KADIRI

Katherine Temple ODAFEVERORO University of Benin, Benin City
Darlington Osaremwinda OGBEIDE University of Benin, Benin City
Alasa Paul KADIRI University of Benin, Benin City

Keywords: Artificial intelligence, data analytics, internet of things, productivity, and business model

Abstract

The contemporary corporate landscape is undergoing a fundamental shift as digital technologies dismantle traditional business paradigms. This research examines the strategic integration of Artificial Intelligence (AI), Blockchain, the Internet of Things (IoT), and Cloud Computing, exploring their collective impact on operational efficiency and business model innovation. For a better understanding of the crucial role of technology transformation, this research synthesises three fundamental theoretical frameworks: Innovation Diffusion Theory (IDT), Resource-Based View (RBV), and Business Model Innovation (BMI) Theory. Drawing on a diverse range of academic literature, the study identifies a "technology productivity paradox," where substantial investment does not always yield immediate measurable gains in output. Furthermore, the transition from asset-heavy traditional models to data-driven, platform-based ecosystems is analysed alongside the resultant socio-technical challenges, including the erosion of employee downtime and the diminishing human component in professional relationships. In ensuring business transition in the era of digital paradigm shifts, this conceptual assessment suggest that while technological transformation is essential for market survival, its success is predicated on visionary leadership and a renewed commitment to human capital.