Abstract Artificial intelligence (AI) has emerged as a pivotal force in modern business transformation, garnering widespread attention from both practitioners and academics. With a notable exponential increase in AI‐related studies, we provide a research framework aiming to synthesize the existing literature on AI in the business field. We conduct a comprehensive review of AI research spanning from 2010 to 2023 in 25 leading business journals according to this review framework. Specifically, we review the literature from three research perspectives: (i) AI applications, (ii) human perceptions of AI, and (iii) AI behavior. We also identify five principal research questions and offer suggestions for future research directions.