AI technology is a key driver of business model innovation, enabling companies to achieve new value creation and sustainable growth through strategic utilization and internalization.

By leveraging AI technology, companies can enhance agility and adaptability through big data analysis and automated decision-making, while securing new growth engines through personalized experiences and new product development.

• Enhance agility and adaptability of organizations by automating and optimizing decision-making through the collection, storage, processing, and analysis of large-scale data.

• Improve efficiency by providing personalized experiences through customer behavior and preference prediction, and by expanding the scope of task automation.

• Utilize AI technology to identify potential customers and develop new products and services, securing new growth engines.

AI-driven business model innovation requires a phased approach, integrating data, automating processes, and transforming business models to create new value.

• Phase 1: Introduce AI into individual business areas and foster the adoption of data-driven decision-making

• Phase 2: Promote connectivity and automation across processes through data integration and the establishment of end-to-end digital infrastructure

• Phase 3: Use AI capabilities to innovate existing business models and discover new business opportunities

Companies like Schneider Electric, Michelin, and Amorepacific have built innovative business models by utilizing AI and IoT.

• Schneider Electric: Transformed into an energy management and automation solutions provider by leveraging IoT and AI technology

• Michelin: Expanded its business scope from AI-based tire management services to comprehensive vehicle management services

• Amorepacific: Developed customized products and services using big data and AI technologies and strengthened online sales channels

Manufacturing companies must recognize AI technology as a strategic asset, through bold investments and experiments to internalize it. At the same time, they need to build an ecosystem of openness and collaboration to establish a virtuous cycle of continuous growth and innovation.