Using Artificial Intelligence (AI) Generative Technologies For Business Model Design with IDEATe Process: A Speculative Viewpoint

Abstract

PurposeArtificial Intelligence (AI) and the more recent generative technologies are disrupting many activities related to strategy and operations within organizations. Business model design is no exception. We define business model design as an iterative process involving a combination of creativity, decisions, and tests, consisting of envisioning and creating a business model (for a brand-new activity) or a new business model (for an existing activity), to change an existing situation into a preferred one. In this paper, we discuss the potential impact of generative technologies on the business model design process, highlighting the opportunities and challenges that these technologies present and suggesting some methods for using generative technologies for business model design. Design/Methodology/ApproachWe build on knowledge about business model design and on documentation from forums, social networks, and media about generative technologies. We also used generative AI platforms to test dozens of prompts related to business model design. FindingsWe propose the IDEATe process for business model design and identify six major changes in the process or the outcome of business model design that generative technologies can trigger. We also discuss blind spots and risks associated with the use of generative technologies for business model design. Finally, we advance some functions of generative technologies that may support this process. Originality/ValueInstead of focusing on how generative technologies could change business models, we investigate how these technologies could impact the design of business models. We make propositions to use these technologies properly for business model design.