scholarly journals New Business Models on Artificial Intelligence—The Case of the Optimization of a Blast Furnace in the Steel Industry by a Machine Learning Solution

2021 ◽  
Vol 5 (1) ◽  
pp. 6
Author(s):  
Andrés Redchuk ◽  
Federico Walas Mateo
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Business Model ◽  
Steel Industry ◽  
Business Models ◽  
State Of The Art ◽  
The State ◽  
Steel Manufacturing ◽  
New Business ◽  
New Business Models

This article took the case of the adoption of a Machine Learning (ML) solution in a steel manufacturing process through a platform provided by a Canadian startup, Canvass Analytics. The content of the paper includes a study around the state of the art of AI/ML adoption in steel manufacturing industries to optimize processes. The work aimed to highlight the opportunities that bring new business models based on AI/ML to improve processes in traditional industries. Methodologically, bibliographic research in the Scopus database was performed to establish the conceptual framework and the state of the art in the steel industry, then the case was presented and analyzed, to finally evaluate the impact of the new business model on the operation of the steel mill. The results of the case highlighted the way the innovative business model, based on a No-Code/Low-Code solution, achieved results in less time than conventional approaches of analytics solutions, and the way it is possible to democratize artificial intelligence and machine learning in traditional industrial environments. This work was focused on opportunities that arise around new business models linked to AI. In addition, the study looked into the framework of the adoption of AI/ML in a traditional industrial environment toward a smart manufacturing approach. The contribution of this article was the proposal of an innovative methodology to put AI/ML in the hands of process operators. It aimed to show how it was possible to achieve better results in a less complex and time-consuming adoption process. The work also highlighted the need for an important quantity of data from the process to approach this kind of solution.

scholarly journals Emerging technologies and new business models: a review on disruptive business models

2018 ◽  
Vol 15 (4) ◽  
pp. 338-355 ◽  
Author(s):  
Giovana Sordi Schiavi ◽  
Ariel Behr
Keyword(s):  
Business Model ◽  
Research Agenda ◽  
Design Methodology ◽  
Business Models ◽  
State Of The Art ◽  
Organizational Structures ◽  
Content Type ◽  
New Business ◽  
Analysis Strategy ◽  
New Business Models

Purpose This paper aims to conduct a review on disruptive business models. Considering that competition among companies will not only happen through new products, services or technologies but also through innovative business models, the disruptive business models arise to replace the existing business models, adapting the organizational structures to the products and services offered and emphasizing the proposition of unique value. Design/methodology/approach The literature on this topic was revised, allowing the obtaining of the state of the art and the construction of a research agenda. The analyzed literature was obtained from systematic searches by the term disruptive business model in some databases. For the analysis of the data, the content analysis strategy was used through categorizations in the material exploration phase, and, later, for the processing of the results, the authors made use of inference and interpretation regarding the content analyzed. Findings The collected literature made it possible to obtain a set of data formed by different views of authors on disruptive business models, which was analyzed and categorized to make new inferences and interpretations. Originality/value Considering that the literature on the disruptive process of business models is emerging and addressing an important phenomenon in the market that lacks the theoretical basis to sustain it, this paper contributes by presenting a consolidated examination on this subject, thus deepening the theoretical analyzes on this topic and reducing this lack in the literature. This study also presents a research agenda, which clarifies the disruptive business model gap and reveals some opportunities for future empirical researches.

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

2019 ◽  
Vol 5 (3) ◽  
pp. 44 ◽  
Author(s):  
Jaehun Lee ◽  
Taewon Suh ◽  
Daniel Roy ◽  
Melissa Baucus
Keyword(s):  
Artificial Intelligence ◽  
Business Model ◽  
Business Models ◽  
Disruptive Innovation ◽  
Emerging Technology ◽  
Business Model Innovation ◽  
New Business ◽  
Potential Impact ◽  
New Business Models

Artificial intelligence (AI) has been altering industries as evidenced by Airbnb, Uber and other companies that have embraced its use to implement innovative new business models. Yet we may not fully understand how this emerging and rapidly advancing technology influences business model innovation. While many companies are being made vulnerable to new competitors equipped with AI technology, this study attempts to focus on the proactive side of the use of AI technology to drive business model innovation. Describing AI technology as the catalyst of business model innovation, this study sheds light on contingent factors shaping business model innovation initiated by the emerging technology. This study first provides a brief overview of AI, current issues being tackled in developing AI and explains how it transforms business models. Our case study of two companies that innovated their business models using AI shows its potential impact. We also discuss how executives can create an innovative AI-based culture, which rephrases the process of AI-based business model innovation. Companies that successfully capitalize on AI can create disruptive innovation through their new business models and processes, enabling them to potentially transform the global competitive landscape.

scholarly journals Who Else do You Need for a Data-Driven Business Model? Exploring Roles and Exchanged Values

2021 ◽  
Author(s):  
Florian Leski ◽  
◽  
Michael Fruhwirth ◽  
Viktoria Pammer-Schindler ◽  
◽  
...  
Keyword(s):  
Artificial Intelligence ◽  
Literature Review ◽  
Business Model ◽  
Business Models ◽  
Data Driven ◽  
Automotive Company ◽  
New Business ◽  
New Business Models ◽  
Structured Literature Review ◽  
Analyze Data

The increasing volume of available data and the advances in analytics and artificial intelligence hold the potential for new business models also in offline-established organizations. To successfully implement a data-driven business model, it is crucial to understand the environment and the roles that need to be fulfilled by actors in the business model. This partner perspective is overlooked by current research on datadriven business models. In this paper, we present a structured literature review in which we identified 33 relevant publications. Based on this literature, we developed a framework consisting of eight roles and two attributes that can be assigned to actors as well as three classes of exchanged values between actors. Finally, we evaluated our framework through three cases from one automotive company collected via interviews in which we applied the framework to analyze data-driven business models for which our interviewees are responsible.

scholarly journals Artificial intelligence and machine learning in design of mechanical materials

2021 ◽  
Author(s):  
Kai Guo ◽  
Zhenze Yang ◽  
Chi-Hua Yu ◽  
Markus J. Buehler
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
State Of The Art ◽  
The State

This review revisits the state of the art of research efforts on the design of mechanical materials using machine learning.

Performing Enterprise Architectures Through Gamified Business Models

2019 ◽  
pp. 232-246
Author(s):  
Ricardo Pateiro Marcão ◽  
Gabriel Pestana ◽  
Maria José Sousa
Keyword(s):  
Employee Engagement ◽  
Business Model ◽  
Enterprise Architecture ◽  
Business Models ◽  
Professional Services ◽  
Good Practices ◽  
Services Sector ◽  
New Business ◽  
And Performance ◽  
New Business Models

The profitability of performance and the reduction of turnover are the main challenges of the big companies of the professional services sector. While it is not always possible to achieve all the goals of the large multinationals in each country, it is necessary to assess their development in order to do so. In this way, the steps are identified, going to the new version of new business models, under an organization perspective that can be accompanied by interesting results with a different structure. However, for the sake of management, in order to ensure the cohesion between the teams, it is necessary to create mechanisms for obtaining high income, in order to support the enterprise architecture and the intended business model, which highlights the use of the concept of gamification as one of these mechanisms. This chapter aims to review the literature on the use of architectures and performance demonstrations. In addition to using the gamification concept, the profitability of capital invested in different business activities and the improvement of employee engagement are used. It is intended to consolidate good practices for the implementation of architectures through business models.

New Business Models Sustainability

2021 ◽  
pp. 1-29
Author(s):  
Albérico Travassos Rosário
Keyword(s):  
Business Model ◽  
Business Models ◽  
Business Model Innovation ◽  
Primary Data ◽  
Sustainable Business ◽  
Collection Method ◽  
New Business ◽  
Environmental Concepts ◽  
Political Economic ◽  
New Business Models

Increased global concerns about climate change and environmental degradation have attracted attention to sustainable development strategies. Sustainability involves maintaining ecological balance, requiring organizations to integrate social, political, economic, and environmental concepts in their business models. This research chapter aims to explore the new business models associated with increased awareness of sustainability. Literature review methodology was used as the primary data collection method. Four main new business models were identified, including sustainable business model innovation (SBMI), triadic business model (T-Model), circular business model, and Web 2.0-based business model. Despite the differences in definition and implementation of these modern frameworks, innovation and sustainability remain the central concepts of enhancing value creation and capturing. While these business models aim to enhance organizations' capabilities to optimize new opportunities and overcome challenges, they also aim to improve society and protect the environment.

Smart Technologies and New Business Models: Insights from Artificial Intelligence and Blockchain

2021 ◽  
pp. 271-285
Author(s):  
Francesca Dal Mas ◽  
Carlo Bagnoli ◽  
Maurizio Massaro ◽  
Stefano Biazzo
Keyword(s):  
Artificial Intelligence ◽  
Business Models ◽  
New Business ◽  
Smart Technologies ◽  
New Business Models

scholarly journals AI-enabled business models in legal services: from traditional law firms to next-generation law companies?

2020 ◽  
Vol 7 (1) ◽  
pp. 27-46 ◽  
Author(s):  
John Armour ◽  
Mari Sako
Keyword(s):  
Business Model ◽  
Business Models ◽  
Legal Profession ◽  
Law Firms ◽  
Legal Services ◽  
Law Firm ◽  
Corporate Form ◽  
New Business ◽  
Employee Incentives ◽  
New Business Models

Abstract What will happen to law firms and the legal profession when the use of artificial intelligence (AI) becomes prevalent in legal services? We address this question by considering three related levels of analysis: tasks, business models, and organizations. First, we review AI’s technical capabilities in relation to tasks, to identify contexts where it is likely to replace or augment humans. AI is capable of doing some, but not all, legal tasks better than lawyers and is augmented by multidisciplinary human inputs. Second, we identify new business models for creating value in legal services by applying AI. These differ from law firms’ traditional legal advisory business model, because they require technological (non-human) assets and multidisciplinary human inputs. Third, we analyze the organizational structure that complements the old and new business models: the professional partnership (P2) is well-adapted to delivering the legal advisory business model, but the centralized management, access to outside capital, and employee incentives offered by the corporate form appear better to complement the new AI-enabled business models. Some law firms are experimenting with pursuing new and old business models in parallel. However, differences in complements create conflicts when business models are combined. These conflicts are partially externalized via contracting and segregated and realigned via vertical integration. Our analysis suggests that law firm experimentation with aligning different business models to distinct organizational entities, along with ethical concerns, will affect the extent to which the legal profession will become ‘hybrid professionals’.

scholarly journals The Analysis of Implementation Business Model Canvas At The E-Marketplace Dipeta Company

2017 ◽  
Vol 4 (2) ◽  
pp. 125-133
Author(s):  
Ni Wayan Purnawati ◽  
Djoko Budiyanto Setyohadi
Keyword(s):  
Business Model ◽  
Business Models ◽  
National Level ◽  
The Internet ◽  
Good Information ◽  
Education Services ◽  
Business Model Canvas ◽  
New Business ◽  
Weak Points ◽  
New Business Models

In the internet Era as now everything is easily accessible, obtaining good information, education, services even trade. E-Marketplace as a new innovation for interaction between buyer and seller can also encourage micro medium to promote his business. www.pesansaja.com released by dipeta in the field of E-Marketplace of local culinary, which still require a lot of innovation to be able to attract customers and keep them. Innovation is also needed to be able to compete with other competitors on the E-Marketplace that engaged in the same. Hence the need for the implementation of the business model in this business model Canvas to get new business models to suit the wishes of the customer and an evaluation based on the strong and weak points of this business. The results of the implementation are expected to make the company's E-Marketplace is getting big and compete at a national level as an E-Marketplace of successful culinary attract customers

Sign in / Sign up

Export Citation Format

Share Document