The integration of Artificial Intelligence (Al) in strategic management is an area of rapid development. Where traditional strategic management relies on human intuition, Al tools such as machine learning and predictive analytics are reshaping the process, from analysis to evaluation. Nonetheless, the academic literature on this issue is still lacking in a wide-ranging and systematic approach that will bring to a single place current findings and identify areas of most concern. Incorporating this study, we do provide a formal systematic literature review to put together the existing knowledge on the integration of Al in strategic management processes. The research addresses three core questions: What are the main applications of Al in each phase of strategic management? What are the primary benefits and challenges of this integration? And what are the key research gaps for future studies? We performed a comprehensive systematic review per the PRISMA Statement guidelines, performing searches in reputable databases including Scopus, Web of Science, and Google Scholar. A multistage screening of 251 articles published from 2015 to 2024 produced a final corpus of 50 articles for synthesis. Data was extracted from these articles, thematically analyzed for overall trends, and observed patterns. This review indicates that the primary use of Al is at the strategic analysis stage where it augments analyses of data-led business activity such as market forecasting and competitor analysis. Al is a powerful decision-support system to be used in formulating strategy, although its role in qualitative aspects of strategy is still in its infancy. Some of these barriers to adoption stem from a lack of trained personnel, high implementation costs and some of the problems related to algorithms, such as bias. The findings point to a new model for augmented intelligence, where human and Al abilities work together. One of the limitations of this review is the limited number of empirical findings in the extant literature, because of which we can only make basic conclusions in the long term about the impact of Al on organizational performance. Moreover, the review only focused on English-language literature, which may potentially ignore some essential findings from non-English writing.