AI-twin and AI-triple firm's transition: Unveiling the predictors from European SMEs

Abstract

The aim of this paper is to expand research on twin and triple transitions for small and medium-sized enterprises (SMEs) in Europe. The article specifically analyses the link between digital technologies of artificial intelligence (AI) with environmental and social sustainability. By examining which resources and capabilities influence SMEs' decision-making processes regarding AI-driven digital and sustainable business strategies, this study addresses a critical gap in the literature. Using the dynamic capabilities theory and self-selection approaches, we analyse a large, representative sample of SMEs from the European Union, drawing on data from the 2020 Flash Eurobarometer 486. Our cross-country analysis reveals that larger, high-growth SMEs, global value chain participants, innovative, with collaborative abilities, and financially healthy SMEs are more likely to adopt the AI-twin and AI-triple transitions. Moreover, the likelihood of embracing the twin and triple transitions is also positively influenced by managerial characteristics and a supportive local business environment, such as the availability of skilled workers.

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