Olga Shvetsova and Anastasiya Bialevich
Wide range of industries recognize ecosystem as a crucial part to create and sell a value for customers through a specific set of business processes run within it. Powered by possibilities of information technologies, companies are ready to reduce possible costs of each operation so that innovations become a core element. According to Harvard Business Review [April, 2016], business players are relying on platforms, services, and solutions as a key strategy to achieve profitable growth. Such platforms can be digital solutions that connect different groups of users or customers, providing new sources of value creation, revenue streams, customer engagement, and operational efficiency. The most interesting solutions during last year global wide are presented by Artificial Intelligence (further-AI). By embracing AI business models, companies wish to unlock new opportunities for growth and differentiation in an increasingly competitive market. However, the attempt at ecosystem innovation can become a costly failure if not implemented properly.
As evidenced by the comprehensive analysis presented, AI technologies not only enhance operational efficiency but also facilitate strategic decision-making, enabling small enterprises to thrive in an increasingly competitive global landscape. By embracing AI-driven solutions, small businesses can harness the power of data analytics, automation, and intelligent algorithms to drive innovation, optimize processes, and enhance customer experiences. The insights shared in this paper underscore the transformative potential of AI, emphasizing its capacity to empower small enterprises, foster economic growth, and pave the way for a future where innovation and sustainability are at the forefront of business endeavors.
