SIG DITE - Digital Innovation, Transformation and Entrepreneurship
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Paper Type
Complete
Paper Number
1192
Description
Artificial intelligence (AI) holds great potential for firms to create new business models and gain competitive advantages. While some pioneers are effectively leveraging AI, most firms are struggling to capitalize on the opportunities for value creation. Previous research has highlighted the performance benefits, success factors, and challenges of adopting AI. However, the value drivers of AI, specifically regarding how AI creates value, remain unclear and need exploration so that firms can adapt their value creation to leverage the potential. To clarify how AI creates value, we conduct a case survey of 61 firms to identify six value drivers: efficiency, novelty, knowledge from data, ecosystem, personalization, and human resemblance. We discuss how these value drivers differ from other digital technologies. For practitioners, we provide valuable insights into the business value of AI and business model (BM) design opportunities to build on.
Recommended Citation
Böttcher, Timo Phillip; Weber, Michael; Weking, Jörg; Hein, Andreas; and Krcmar, Helmut, "Value Drivers of Artificial Intelligence" (2022). AMCIS 2022 Proceedings. 5.
https://aisel.aisnet.org/amcis2022/sig_dite/sig_dite/5
Value Drivers of Artificial Intelligence
Artificial intelligence (AI) holds great potential for firms to create new business models and gain competitive advantages. While some pioneers are effectively leveraging AI, most firms are struggling to capitalize on the opportunities for value creation. Previous research has highlighted the performance benefits, success factors, and challenges of adopting AI. However, the value drivers of AI, specifically regarding how AI creates value, remain unclear and need exploration so that firms can adapt their value creation to leverage the potential. To clarify how AI creates value, we conduct a case survey of 61 firms to identify six value drivers: efficiency, novelty, knowledge from data, ecosystem, personalization, and human resemblance. We discuss how these value drivers differ from other digital technologies. For practitioners, we provide valuable insights into the business value of AI and business model (BM) design opportunities to build on.
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SIG DITE