The role of artificial intelligence in business model innovation

Title

The role of artificial intelligence in business model innovation

Creator

Sai Charan Reddy, Cemarala; Sharma, Sanjeev

Description

Businesses are fundamentally changing because of AI, allowing for a greater focus on creativity. The chapter introduces advancements in AI like machine learning, predictive analytics, and natural language processing that help boost customer service, operational efficiencies and asset monetization opportunities. Key considerations will include personalized customer engagements, process efficiencies, optimizing resources and planning to set up new business models-subscription- based ser- vices/platform economies, etc. Emerging technologies like artificial intelligence have broader implications in e- commerce, finance, manufacturing-showing how firms use AI strategies to gain competitive advantage and foster business growth. In addition, the chapter addresses ethical considerations like bias, privacy as well as workforce implications and their role in ensuring responsible AI practices. AI can improve flexibility, realizing the highest level of value and maintaining competitive advantage. 2025, IGI Global Scientific Publishing. All rights reserved.

Source

AI-Driven Business Model Innovation;pp.163-190

Date

01-01-2025

Publisher

IGI Global

Coverage

Sai Charan Reddy C., Christ University, India; Sharma S., Christ University, India

Rights

Restricted Access; Hardcopy may be available in the library

Relation

ISBN: 979-836939573-8; 979-836939571-4;

Format

online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.4018/979-8-3693-9571-4.ch007

https://www.scopus.com/pages/publications/105000101067?origin=resultslist