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10 Apr 2019 | 15:30 - 15:50 | Big-Data.AI Summit

Converting AI Technologies into New Business Value

Joan Clarke Stage
Stage BAS

Today’s companies mainly use AI to increase efficiency and to reduce costs. Using AI simply as a cost-cutting tool will eventually fail to capture the full value it offers. Therefore, we present a framework and approach to create entirely new business models and services to capture the value of AI technologies. Based on the systematic and, in practice, proven methodology of the St.Gallen Business Model Navigator, we have linked new, emerging AI business model patterns with the need of companies to exploit existing activities and explore new business opportunities. This approach facilitates in particular (1) the creation of additional value for customers through AI, (2) the structured exploration of business opportunities through use cases, (3) the evaluation and rapid testing of these opportunities, and (4) the capture of value for one's own company through appropriate revenue models. The results of one of our workshops in February will be presented and further discussed.

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