In recent years, there has been an increased interest in the concept of artificial intelligence in the literature. Moreover, it is now well known that artificial intelligence is crucial for decision-making processes. Hence, there is a need in the literature to understand what technologies and applications of artificial intelligence concerning decision-making processes to bring innovation and sustainability to the industry in research policy. Based on these promises, this analysis identifies which artificial intelligence technologies and their applications in industry and research policy. The methodology used is a literature review to analyze the state-of-the-art literature on this topic to achieve this goal. Furthermore, the Delphi method was used to validate the model. The results attest that this research provides policymakers with the necessary knowledge to help them decide on creating an ethical framework for a more reliable, transparent, and impartial use of artificial intelligence. At the same time, on the industry side, the results show that the potential for new products, services, and processes is very high. Consequently, a reorganization of innovation will likely enable new avenues for research policy. © The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2024.