Research on the Coordination Mechanism of Value Cocreation of Innovation Ecosystems: Evidence from a Chinese Artificial Intelligence Enterprise

Abstract

This paper models the game process of the value cocreation of enterprises based on evolutionary game theory (EGT). The factors influencing value cocreation are found through mathematical analysis. Taking iFLYTEK as an example, a representative enterprise of artificial intelligence (AI) in China, six factors affecting value cocreation are verified, which are the excess return rate, the distribution coefficient of the excess return rate, coordination costs in the system, the cost-sharing coefficient, imitation costs, and penalties. These six factors have a profound impact on value cocreation in the ecosystem. Through the case study of iFLYTEK, it is concluded that innovation ecosystems can enable small- and medium-sized AI enterprises to grow. In order to build a sound ecosystem, we need to establish a mechanism to select partners, reduce the costs of cooperation, and strengthen the protection of intellectual property. At the beginning of the cooperation, it is necessary to establish a mechanism with clear responsibilities, rights, and interests. The conclusion is of great significance to the development of AI enterprises.

Creating and Capturing Value in Innovation Ecosystems: A Systematic Literature Review Between 2010 and 2021

“…To establish a solid ecosystem, it is necessary to clearly establish responsibilities, rights and interests (Chen et al, 2021), as unclear rules regarding value ­distribution reduce the enthusiasm of actors to collaborate (Huang et al, 2020).…”

A Systematic Review of Enterprise Innovation Ecosystems

“…Moreover, they pointed out that an excellent ecosystem needs to establish a mechanism. This mechanism can help companies not only select partners, reduce cooperation costs, but also strengthen the protection of intellectual property rights [72]. According to the evolution stage of the enterprise and the ecosystem in which it is located, Nylund et al drew a conceptual model of the role of multinational corporations in order to maintain the sustainable innovation of the enterprise [73].…”

An Evolutionary Analysis of Relational Governance in an Innovation Ecosystem

“…Methodologically, considerable studies adopted empirical tests and cases to analyze interactions between actors and the evolution of ecosystems themselves (e.g., Chen et al, 2016). EGT is efficient to elaborate the co-evolutionary law of strategy relationships among actors in innovation ecosystems (Chen et al, 2021; Yang et al, 2021), which is emphasized seldom. This will be used in current study.…”

“…Furthermore, relational co-evolution necessitates to be relatively stable through many repeated games, and the willingness to cooperate shows the change from a lower level to higher one to maximize benefits of rational actors (Adner, 2017; Argyres et al, 2020). Thus, evolutionary game theory (EGT) is suitable to elucidate the evolutionary mechanism of interactions among actors within innovation ecosystems (Chen et al, 2021). Despite some scholars stressing the significance of modeling in innovation ecosystem studies (e.g., Phillips & Ritala, 2019; Ritala & Almpanopoulou, 2017), few undertake relevant analyses.…”