From this point of view, it is of interest for entrepreneurs to know what general possibilities are available to them. 98–99).Īll these developments illustrate not only the potential, but also the already dominant influence and opportunities that AI can offer companies. In particular, the output quality of AI depends on the quality and quantity of available data (cf. Furthermore, the use of AI naturally requires technological investments and access to the relevant data for the operating of AI. Due to the fact, that AI is already used in many and diverse areas, the question arises how this technology can influence the business and especially the business model (BM) of an entrepreneur. Some voices even go a step further and speak of a new age of AI, in which human abilities and talents are challenged by AI, thus changing the question of the long-term changes in human life, including in the corporate and new venture sector (cf. Examples are shopping suggestions, face recognition or speech assistants (cf. Many of these examples are currently familiar to users, while others often remain hidden. In fact, AI or algorithms that come close to it have already penetrated many areas of everyday life. The idea that AI is not yet or only to a small extent present in the entrepreneurial world and that it is rather a theoretically phenomenon would be a misconception that an entrepreneur could succumb to. These changes and improvements in usability now allow many companies to use this technology in various applications. in machine learning (ML), lead to breakthroughs in the applicability of AI in many areas. Against this background, it is essential that entrepreneurs consider the consequences of AI in their business model.ĪI technology is not a new phenomenon, neither in science nor for companies. For entrepreneurs as well as companies the question arises as to how much influence AI can have on their business now and in the future and how they can leverage the technological potential for themselves. At the same time, this also increases the pressure not to fall behind. This opens the opportunity to participate in this pioneering technology and make it available for usage by entrepreneurs at every market level. And yet the threshold for research and use of AI is still ongoing (cf. Its disruption and innovation potential is considered to be of a magnitude that cannot be compared to any known technology. The technology of artificial intelligence (AI) is already considered to be a ground-breaking technology that has the potential to fundamentally change markets, industries and in general business activities. Further, research could consider the influence of the presented AI roles in business models, especially the AI-driven business model is of interest here. Additionally, strategy types are developed on the basis of the presented classification scheme, but give entrepreneurs a suggestion for their own AI path in terms of AI applications to consider. Furthermore, the interaction of the different innovation possibilities of AI is compared and with that the importance for the innovative power of companies. Insights from these case studies are processed to develop a classification scheme of the influence of AI on business models. By means of case studies, both sides of the extremes are covered in order to provide a picture of the scope of the applications. The analysis is based on case studies that examine the role of AI in a company’s business model, both for new market participants in the form of start-ups and incumbents such as the tech giants. By means of case studies, current business practice will be examined to give entrepreneurs and researchers an understanding of this technology, by providing practical examples so that they can pursue their own AI path. The following article therefore tries to classify the roles of artificial intelligence (AI) applications on the strategic level and their influence on business models. The world of AI offers new opportunities for companies and is therefore of particular interest to entrepreneurs at potentially every level impacting their business.
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