The role of artificial intelligence in business transformation: A case of pharmaceutical companies

Kulkov, Ignat

doi:10.1016/j.techsoc.2021.101629

Cited by 74 publications

(25 citation statements)

References 36 publications

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“…On the one hand, AI start-ups are shaping their company and consumer value by putting new technological capabilities at the head of their company. They do not rebuild the usual business processes under the influence of AI or other technologies, as many medium or large healthcare solution developers do (Ilin et al , 2018; Kulkov, 2021). Moreover, most innovations and breakthroughs are formed precisely among novel and small companies, which, if successful, are often acquired by large companies (Henkel et al , 2015).…”

Section: Methodsmentioning

confidence: 99%

“…We suggest that the key themes are improved access to healthcare, responsiveness and privacy design, and we systematize their use. These results are important for understanding the role of AI and other emerging technologies in transforming modern industries (Jiang et al, 2017;Li, 2020;Boneva, 2018;Xu et al, 2019;Kulkov, 2021). Companies working with improved access to the healthcare theme are mainly focused on developing solutions for diagnostics and therapy.…”

Section: Start-up's Value Creationmentioning

confidence: 99%

“…Therefore, most healthcare innovations are carefully monitored by registering and approving authorities, as well as by physicians who use new opportunities. Nevertheless, new technologies, including AI, are the future, and maybe the present in healthcare (Jiang et al , 2017; Kulkov, 2021). The capabilities of AI are assumed to contribute to increasing access to quality healthcare, reducing errors and increasing medical personnel training (Mak and Pichika, 2019; Miller and Brown, 2018).…”

Section: Introductionmentioning

confidence: 99%

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Next-generation business models for artificial intelligence start-ups in the healthcare industry

Kulkov

2021

IJEBR

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PurposeValue creation based on artificial intelligence (AI) can significantly change global healthcare. Diagnostics, therapy and drug discovery start-ups are some key forces behind this change. This article aims to study the process of start-ups' value creation within healthcare.Design/methodology/approachA multiple case study method and a business model design approach were used to study nine European start-ups developing AI healthcare solutions. Obtained information was performed using within and cross-case analysis.FindingsThree unique design elements were established, with 16 unique frames and three unifying design themes based on business models for AI healthcare start-ups.Originality/valueOur in-depth framework focuses on the features of AI start-up business models in the healthcare industry. We contribute to the business model and business model innovation by systematically analyzing value creation, how it is delivered to customers, and communication with market participants, as well as design themes that combine start-ups and categorize them by specialization.

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Section: Methodsmentioning

confidence: 99%

Section: Start-up's Value Creationmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Next-generation business models for artificial intelligence start-ups in the healthcare industry

Kulkov

2021

IJEBR

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“…The results of customer data analytics allow business organization to identify and prioritize co-creation needs considered by customers as important (Li et al ., 2021). Consequently, this leads to the generation of new customer knowledge which help business organizations to make quality decision on their customer-focus strategies (Kulkov, 2021).…”

Section: Literature Reviewmentioning

confidence: 99%

The impact of customer-focus on the performance of business organizations: evidence from SMEs in an emerging West African economy

Abrokwah-Larbi

2023

AJEMS

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PurposeThe purpose of this paper is to investigate the impact of customer-focus on small medium enterprise (SME) performance from the perspective of a resource-based view (RBV).Design/methodology/approachThis research study implemented a survey strategy to gather data from 255 respondents on the registered list of Ghana Enterprise Agency (GEA) in the eastern region of Ghana. Scales used to gather data were operationalized from previous research studies. A structural equation modeling (SEM) path analysis was used to estimate the impact of customer-focus on the performance of SMEs.FindingsThe outcomes of this study indicate that customer-focus has a significant positive impact on SME performance, hence backing the current demand for investigating the distinct influence of customer-focus on SME performance. The results show that customer-focus has a positive and significant relationship with financial performance, customer performance, internal business process performance and learning and growth performance, thus supporting the literature on the positive impact of customer-focus on SME performance. Therefore, customer-focus determinants used in this study, including co-creation, networking ties, customer insight and artificial intelligence marketing (AIM), are critical to the optimization of SME performance.Research limitations/implicationsNotwithstanding the importance of this research study mentioned earlier, the study has limitations. Notably, the sample size of this study can be increased to capture SME respondents in other geographical zones that were not included in this study. Future research studies may address how business environment conditions moderate the relationship between customer focus and performance, and also the cause-effect of the relationship between customer focus and business environment conditions on SME performance.Practical implicationsThe practical implications consist of two main items. First, this study empowers SME owners and managers to develop a customer focus technique as a central strategic goal in their quest for SME performance optimization. Second, SME owners and managers should progressively exploit the four determinants of customer focus which include co-creation, networking ties, customer insight and (AIM in order to accrue important resources for effective utilization of their customer focus competences as a way to enhance their performance.Social implicationsThis study is targeted at the sound development of SMEs to bring about poverty alleviation and employment. Poverty, unemployment and poor living standards are recognized as vital social challenges in most emerging economies. The establishment of customer focus as an important strategic capability provides opportunities for SME survival, profitability and growth.Originality/valueGenerally, the findings of this research study provide a strong backing to RBV perspective and the proposition that customer-focus and its determinants (i.e. co-creation, networking ties, customer insight and AIM) should be acknowledged as a vital strategic resource for optimizing the performance of SMEs. This research study also provides new knowledge contribution to the present body of knowledge on customer-focus orientation and management literature, particularly in the context of an emerging economy.

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“…Digital innovations modify how people perform their work activities (Agostini and Filippini, 2019;Denicolai and Previtali, 2020;Kulkov, 2021a). At the same time, introducing such innovations can be obstructed by established regulations, industrial norms, ways of working and even mindsets, all of which can be considered institutions (Scott, 2013).…”

Section: Introductionmentioning

confidence: 99%

Identifying institutional barriers when implementing new technologies in the healthcare industry

Kulkov

Tsvetkova

Ivanova-Gongne

2021

EJIM

Self Cite

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PurposeVirtual and augmented reality solutions in medicine are generally applied in communication, training, simulation and therapy. However, like most new digital developments, these technologies face a large number of institutional barriers that are inherent to the medical sector.Design/methodology/approachFollowing Richard Scott's view on institutions and organizations, a multiple case study is used to analyze regulatory, normative and cultural-cognitive institutional pillars in the medical industry.FindingsThe results of the study demonstrate that (1) the regulatory pillar inhibits the advancement of new technologies in the approach to treatment, regulation of patient data, educational processes for medical staff, and information and financial flows; (2) the number of barriers increases based on the solution's level of disruption and the number of variable conventional procedures; (3) trust between participants in the medical industry plays an important role in introducing new technologies; (4) new participants need to address certain pillars depending on the area of application.Originality/valueThe authors discuss top-down and bottom-up approaches for overcoming institutional barriers when implementing augmented and virtual reality solutions for companies focusing on the medical market.

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The role of artificial intelligence in business transformation: A case of pharmaceutical companies

Cited by 74 publications

References 36 publications

Next-generation business models for artificial intelligence start-ups in the healthcare industry

Next-generation business models for artificial intelligence start-ups in the healthcare industry

The impact of customer-focus on the performance of business organizations: evidence from SMEs in an emerging West African economy

Identifying institutional barriers when implementing new technologies in the healthcare industry

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