The integration of artificial intelligence (AI) technologies, particularly ChatGPT, has garnered significant attention in the business sector. This study explores the multifaceted applications of ChatGPT in business domains including customer service, marketing and sales, human resources, data analytics and decision-making, and finance. By analyzing data from 39 selected articles out of over 104 collected from Google Scholar and IEEE Xplore, this study highlights the transformative potential of ChatGPT in enhancing operational efficiency, improving customer interactions, and supporting strategic decision-making. The benefits of ChatGPT, such as increased efficiency, cost savings, and improved customer experiences, are examined alongside the challenges, including ethical considerations, data privacy, and system integration. Future research directions are proposed to address these challenges and further explore the capabilities of ChatGPT in business contexts. This paper aims to provide a comprehensive understanding of the current state and future prospects of ChatGPT in business applications.