Emerging Technology and Business Model Innovation: The Case of Artificial Intelligence

Lee, Jun Ho; Suh, Taewon; Roy, Daniel; Baucus, Melissa S.

doi:10.3390/joitmc5030044

Cited by 232 publications

(152 citation statements)

References 20 publications

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“…Of course, AR/VR technologies, in particular in HR and lean management, belong to the future, but today technologies successfully complement the work of these specialists, transform it, increase efficiency, etc. [1,11,18,[35][36][37].…”

Section: Discussionmentioning

confidence: 99%

Sustainability and Digitalization of Corporate Management Based on Augmented/Virtual Reality Tools Usage: China and Other World IT Companies’ Experience

Zhao

Ślusarczyk

2019

Sustainability

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The article is tasked with studying the modern possibilities and effectiveness of the application of virtual and augmented reality technologies in the field of managing human recourses (HRs) and basic operational corporate business processes. Using examples of successful use of AR (augmented reality)/VR (virtual reality) in the labor market by the largest companies in the USA, China, and Europe, the most relevant areas and forms of using these technologies in the work of HR specialists were considered. The study examined issues related to improving the performance of the main modern vectors of corporate development in the field of operational technological improvements, and, as the main result, a model of the company (organization) development was proposed based on improved management of business and HR processes using VR and AR tools. The developed model demonstrates the advantages of using it, and presents the reasons for the economic expediency of using these technologies at all stages of personnel management, including recruiting, staff selection, demonstration of the employer's brand, testing candidates' skills, improving internal communications, creating a positive corporate culture for employees, imitating the workflow, VR and AR-simulations as a tool for passing the input testing for recruitment, selection and management of remote employees, training, assessment, and adaptation of staff. The possibilities of using VR/AR as tools for operational improvements (lean management), for example, for organizing virtual business meetings and meetings, creating virtual presentations, online controlling in the manufacturing sector, automating operational processes, and using VR technologies, are also separately disclosed in the management of logistics, distribution, marketing, and advertising. The results of the analysis of theoretical and statistical sources of information showed the promise of using the possibilities of virtual reality in corporate management, which shifts the emphasis from the traditional understanding and perception of these technologies exclusively in the entertainment field. The obtained developments within the framework of the conducted research are universal in nature and can be applicable both in the study of modern methods of personnel management and in corporate lean management of modern business companies at various levels.

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Section: Discussionmentioning

confidence: 99%

Sustainability and Digitalization of Corporate Management Based on Augmented/Virtual Reality Tools Usage: China and Other World IT Companies’ Experience

Zhao

Ślusarczyk

2019

Sustainability

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“…If the BMI is successful, the innovation process should lead to a positive company's transformation and renewal [24]. The development of a BMI process is usually linked to a stimulus deriving from a change in the competitive environment, as, for instance, the pressure caused by the introduction of new disruptive technology [25]. This transformation is also fostered by the choices of policymakers, who in turn monitor the company's business model evolution to understand how to stimulate innovation within a sector [26].…”

Section: Business Model Innovation Through Industry 40mentioning

confidence: 99%

Sustainability Transition in Industry 4.0 and Smart Manufacturing with the Triple-Layered Business Model Canvas

et al. 2020

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Sustainability transition is becoming increasingly relevant at a manufacturing level, especially for resource-and energy-intensive industries. In addition, the 4.0 industry paradigm opens new opportunities in terms of sustainable development. The aim of this research is to analyze the introduction of sustainability in the corporate value proposition, through the evolution from a traditional to a sustainable business model. The business model innovation will be investigated in the case of a ceramic tile producer in the district of Sassuolo, Italy. The company has introduced several sustainability practices over the years and, through investments in Industry 4.0 technologies, is able to conduct impact assessments of its production process. The applied tool for the business model transition will be the Triple-Layered Business Model Canvas by Joyce and Paquin. The results illustrate the new company's sustainable value proposition, considering all three pillars of sustainability: environment, economy, and society. Despite the limitations resulting from the individual case study, the findings can be easily adapted to other ceramic tile companies in the sector. Besides, the paper could inspire other manufacturing companies in the drafting of a sustainable business model. The paper explores the still limited literature on the application of sustainable business models in operational scenarios.

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“…The impact of digitisation on the role of strategists is discussed by Åberg et al (2017), while the problem posed by data overload and the impossibility of articulating all data is covered by Quinn et al (2018). One of the most relevant points emphasised by Lee et al (2019) is the dependence of AI on data quality and quantity and the issue of shortage of AI skills, pointing out that even in relatively straightforward operational implementation on AI, shortage of AI skills may hinder progress. Blending the relatively high-level skills of business/marketing planning with AI skills may prove an even greater challenge.…”

Section: Planning Processesmentioning

confidence: 99%

“…However, as researchers start to focus on how AI can be used to develop new business models -a possible outcome of business and/or marketing planning (e.g. Lee et al, 2019;Valter et al, 2019), this may lead to the extension that Kiron and Schrage (2019) focus on, the use of AI in determining strategy. A related area is the literature on using AI to achieve digital transformation (e.g.…”

Section: Introductionmentioning

confidence: 99%

Artificial intelligence (AI) in strategic marketing decision-making: a research agenda

et al. 2020

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PurposeThe purpose of this article is to review literature and thinking about the application of AI in strategic situations and to identify the research that is needed in the area of applying AI to strategic marketing decisions. Design/methodology/approachReview of literature and consultation with marketing experts who were invited to contribute to the article. FindingsThere is little research into applying AI to strategic marketing decision-making. This is needed as the frontier of AI application to decision-making is moving in many management areas from operational to strategic. Given the competitive nature of such decisions and the insights from applying AI to defence and similar areas, it is time to focus on applying AI to strategic marketing decisions.There are strong implications for all businesses, particularly large businesses in competitive industries, where failure to deploy AI in the face of competition from firms who have deployed AI to improve their decisionmaking could be dangerous. Social implicationsThe public sector is a very important marketing decision-maker. Although in most cases it does not operate competitively, it must still make decisions about making different services available to different citizens and identify the risks of not providing services to certain citizens, so this article is relevant to the public sector. Originality/valueThis is one of the first articles to probe deployment of AI in strategic marketing decision-making.

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Emerging Technology and Business Model Innovation: The Case of Artificial Intelligence

Cited by 232 publications

References 20 publications

Sustainability and Digitalization of Corporate Management Based on Augmented/Virtual Reality Tools Usage: China and Other World IT Companies’ Experience

Sustainability and Digitalization of Corporate Management Based on Augmented/Virtual Reality Tools Usage: China and Other World IT Companies’ Experience

Sustainability Transition in Industry 4.0 and Smart Manufacturing with the Triple-Layered Business Model Canvas

Artificial intelligence (AI) in strategic marketing decision-making: a research agenda

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