From the production and marketing era, to the relationship and intelligence era business models have been evolving over the centuries. Over these years, artificial intelligence has changed the meaning of ideas, innovations and inventions. As a result of which business models are evolving further.

AI capability is already transforming business across various organizations. Developed or developing, AI has leveled the business and bought a possibility for them to grow in a unique way. While access to technology is universal- what is not common is how each business uses that information for growing purpose. Although emerging technology levels the playing field to a degree for business across industries in their ability to access intelligence for the growing data and information.

The Coming Data Challenges

Business across nations are facing extraordinary challenges and changes in the upcoming years. It is believed that automation driven will be the only constant in those changes. In AI- driven automation, growth means more intelligence from data from connected devices, social media, industrial data to revolutionize business models.

Business are trying to understand the implications of the evolving AI- driven ecosystem far beyond narrow artificial intelligence applications. The force and pace of AI- driven automation changes expected in the coming years will present each business challenges and opportunities for its profitability. It will be fascinating to witness how AI will change business power dynamics.

Business Model Transformation

As everything is now getting connected, business now have the chance to collect data, get the necessary insights and innovate. As a result, we will see a much-needed revolution within the market. That brings us to a very crucial point: how are business models being transformed by AI? While business across the industries are at a different level of AI adoption. The business is mainly focusing on AI for improving customer services, analyse data, trading and more.

While AI has the potential to transform businesses, business models and commerce across nations resulting in protectionist data practices and resistance to sharing data. AI is not only changing how business works; it is also fundamentally transforming the meaning of collaboration, innovation and competition. That bring us to an important point: As the Internet of Thing Integration will allow for the development of environments where users and consumers can interact.