Exploring AI-Driven Business Models
AI-Driven Business Models – Companies collecting and creating precious perceptivity with artificial intelligence( AI) can secure a decisive competitive advantage. The business model invention serves as a strong competitive differentiator, and together with technological progress, new businesses fueled by AI remain created every time.
The main scientific result of this exploration is the conceptualization of AI-driven business models and an overview of the target state and capabilities of these business models in practice grounded on a descriptive study. AI-driven business models can remain conceptualized as business models that use artificial intelligence technologies to make at least one of the business model factors.
Compared to data-driven business models, which constitute a group of business models, AI-driven business models remain grounded on ways that learn and ameliorate their performance without humans having to program them explicitly.
The donation to exercise remains as the proposed eventuality of developing these business models can support decision-makers in assessing the use of AI technologies. Instituting its business model with AI can help it survive in a vastly competitive business terrain.
What Is an AI Business Model?
An AI business model uses AI technologies to create, deliver, and capture value innovatively. Unlike traditional business models that rely on manual processes, those driven by AI integrate machine learning, data analytics, and automation to advance operational efficiency and long-term scalability.
Central to their approach is the AI factory, a systematic framework that continuously processes and refines raw data into valuable insights. It includes interconnected components like data pipelines and machine learning models to automate decision-making.
The AI factory powers AI-focused business models, including:
- AI product as a service (PaaS): AI-enhanced products that provide ongoing services, such as home assistants that learn from user interactions
- AI data monetization: Companies that gather and analyze data to sell insights or predictive analytics
- AI-driven platforms: Digital platforms that use AI to match products or services with customer needs, like ride-sharing apps that optimize routes and pricing in real-time
AI in Action: Why Today Matters More Than Ever
The demand for AI-based tools and schemes is rising across India because of fast digitization in all the main segments of our economy, such as investment and financial services, healthcare, automobiles, and telecommunication, as AI assists in automation, minimizing errors, and also helps in managing repetitive tasks.
The burgeoning growth of AI in the Indian economy across sectors calls for forward-thinking and ambitious leaders to gain knowledge and seize opportunities in today’s AI landscape.
Let us look at some of the important projections that show India will be the leader of AI in the future.
- The Indian AI market size reached $ 680 million in 2022, and further, it remains expected to reach $3,935.5 million by 2028, showcasing a growing rate (CAGR) of 33.28% during 2023-2028
- AI has the potential to add nearly $500 billion to the republic’s GDP by 2025
- AI spending in India surged by 109.6% or $ 665 million in 2018 and is assessed to surge at a CAGR of 39% to spread $ 11,781 million by 2025
Conclusion
The program has been designed to give a holistic and hands-on understanding of AI for business solutions. The course modules uncover the profitable power of AI in the organization and its immense capabilities for industry disruption through comprehensive frameworks designed by global experts. The knowledge gained leads to a winning AI strategy for creating organizational value.