DIGITAL BUSINESS MODEL
AI & Digital
business models.
AI will have a large impact on business models, both in terms
of cost-saving measures and potential new revenue streams.
But there are also many risks that need to be considered.
AI AND DIGITAL
The transformation of digital business models
The obvious first contribution is the potential for reducing costs through automation and streamlining of processes, as well as using AI to reduce manual labour costs associated with customer service. Even companies operating online cannot escape the impact on their business models. AI will also transform how businesses operate by increasing their reliance on more advanced data. For instance,
AI-powered analytics can provide companies with invaluable insights into their customers’ behaviour and preferences; this data can then be used to create more tailored products or services and to anticipate trends. As we’ve seen in recent weeks, AI will no doubt lead to the emergence of entirely new business models that leverage advanced technologies such as machine learning and natural language processing (NLP).
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