Exploring AI-Driven Business Models: Conceptualization and Expectations in the Machinery Industry

摘要

Companies collecting and creating valuable insights with artificial intelligence (AI) are able to secure a decisive competitive advantage. Business model innovation serves as a strong competitive differentiator and together with technological progress, new businesses fueled by AI are created every year. The main scientific result of this research is the conceptualization of AI-driven business models and an overview about the target state and potentials of these business models in practice based on a descriptive study. AI-driven business models can be conceptualized as business models that use artificial intelligence technologies to build at least one of the business model components. Compared to data-driven business models, which constitute a subgroup of business models, AI-driven business models are based on a set of techniques, that learn and improve their performance without humans having to explicitly program them. The contribution to practice is made as the proposed potentials of developing these business models can support decision-makers in evaluating the use of AI technologies. Innovating its business model with the help of AI can help to survive in a highly competitive business environment.