Open AccessDigital Business Model Innovation: Empirical insights into the drivers and value of Artificial Intelligence
Author(s) -
Johannes Winter
Publication year - 2021
Publication title -
international journal of computer and technology
Language(s) - English
Resource type - Journals
ISSN - 2277-3061
DOI - 10.24297/ijct.v21i.9035
Subject(s) - business model , product service system , order (exchange) , service (business) , product (mathematics) , business , digital economy , business intelligence , value (mathematics) , marketing , knowledge management , digital transformation , process management , industrial organization , computer science , world wide web , finance , machine learning , geometry , mathematics
The business activities of traditional industrial companies have commonly focused on products and product-related services. Digital pioneers have evolved their offerings into product-service systems that are networked, intelligent, personalized, and adaptable. The speed at which business models must change continues to be underestimated by many market participants, especially when order books are well filled and the pressure to change appears to be low. Industrial and service companies need to adapt to the changes induced by new market players better today than tomorrow to secure future business success and remain competitive in the digital age. The aim of this article is to intensify the debate on digital business model innovation in industry and the service sector and to enrich it with practical examples of the successful implementation of artificial intelligence in products and services.