Abstract
Business Model Innovation (BMI) involves redefining how organizations create, deliver, and capture value. With the advent of Artificial Intelligence (AI), businesses are increasingly leveraging these technologies to transform their models. The current research investigates the impact of AI on BMI using primary data collected from various industries. It employs statistical analyses to understand the extent of AI adoption, its effects on business model components and various key business metrics. The study identifies key trends in AI adoption across functions and industries. Key findings reveal significant correlations between AI usage and improvements in key business metrics such as operational efficiency, customer engagement, and revenue streams thus resulting in an organization’s competitive advantage. Businesses can make better-informed decisions, establish more effective workflows, and produce more powerful marketing campaigns as a result of AI adoption. It also provides a competitive edge and lays the framework for future growth. This academic work makes a substantial contribution to the discourse on AI for business model innovation, where technology is leveraged to optimize strategy.
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