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Value creation and value capture for AI business model innovation: a three-phase process framework
Luleå University of Technology, Department of Social Sciences, Technology and Arts.
Luleå University of Technology, Department of Social Sciences, Technology and Arts, Business Administration and Industrial Engineering.ORCID iD: 0000-0002-8939-5509
Luleå University of Technology, Department of Social Sciences, Technology and Arts, Business Administration and Industrial Engineering.ORCID iD: 0000-0003-3255-414X
2022 (English)In: Review of Managerial Science, ISSN 1863-6683, E-ISSN 1863-6691, Vol. 16, p. 2111-2133Article in journal (Refereed) Published
Abstract [en]

The rise of AI technologies is generating novel opportunities for companies to create additional value for their customers by applying a proactive approach, managing uncertainty, and thus improving cost efficiency and increasing revenue. However, AI technology capabilities are not enough—companies need to understand how the technology can be commercialized through appropriate AI business model innovation. When emerging technologies are introduced, business-model concepts often need to be significantly altered. This is necessary to fully capitalize on disruptive technologies because it is just as important to innovate the business model as it is to build advanced technology solutions. Therefore, the purpose of this study is to explain how AI providers align value-creation and value-capture dimensions in order to develop commercially viable AI business models. To fulfill our stated purpose, this study has adopted an inductive and exploratory single case-study approach centered on a market-leading provider of AI-related services. The findings are consolidated into a process framework that explicitly illustrates the key activities that companies need to perform concerning value creation and value capture for AI business model innovation and commercialization. The framework explains that AI providers need to follow three phases—namely, identifying prerequisites for AI value creation, matching value capture mechanisms, and developing AI business model offer. We also find that AI providers need to test and develop multiple AI business models and operate them simultaneously to ensure commercial success.

Place, publisher, year, edition, pages
Springer, 2022. Vol. 16, p. 2111-2133
Keywords [en]
Artificial intelligence (AI), Business models, Process framework, Value capture, Value creation
National Category
Business Administration
Research subject
Entrepreneurship and Innovation
Identifiers
URN: urn:nbn:se:ltu:diva-89021DOI: 10.1007/s11846-022-00521-zISI: 000744754500001Scopus ID: 2-s2.0-85123265329OAI: oai:DiVA.org:ltu-89021DiVA, id: diva2:1643570
Note

Validerad;2022;Nivå 2;2022-11-30 (joosat);

Available from: 2022-03-10 Created: 2022-03-10 Last updated: 2022-11-30Bibliographically approved

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Reim, WiebkeParida, Vinit

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