A Business Model Taxonomy for Start-Ups in the Electric Power Industry — The Electrifying Effect of Artificial Intelligence on Business Model Innovation

Eduard Anton, Thuy Duong Oesterreich, Julian Schuir, Leslie Protz and Frank Teuteberg
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Eduard Anton: Osnabrück University, Katharinenstraße 3, 49074 Osnabrück, Germany
Thuy Duong Oesterreich: Osnabrück University, Katharinenstraße 3, 49074 Osnabrück, Germany
Julian Schuir: Osnabrück University, Katharinenstraße 3, 49074 Osnabrück, Germany
Leslie Protz: Osnabrück University, Katharinenstraße 3, 49074 Osnabrück, Germany
Frank Teuteberg: Osnabrück University, Katharinenstraße 3, 49074 Osnabrück, Germany

International Journal of Innovation and Technology Management (IJITM), 2021, vol. 18, issue 03, 1-54

Abstract: Artificial intelligence (AI) serves as a technological driver for business model innovation by guiding decisions and automating services, thereby leveraging efficiency-enhancing and profitable business practices. Especially in the electric power industry, a multitude of start-ups have entered the market offering disruptive AI-based services. However, there has been little research to date on what concrete business models result from the diffusion of AI and how these might be classified. In view of this research gap, this paper contributes to a better understanding of start-ups in the electric power industry that use AI technologies by systematically developing a business model taxonomy. In addition, we conducted 12 semi-structured interviews with domain experts for the evaluation step and validated the robustness of the taxonomy based on cluster analysis to identify common business model archetypes. Finally, we derived and discussed the academic and practical implications of our research and highlighted future research avenues.

Keywords: Electric power industry; business models; artificial intelligence; taxonomy (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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DOI: 10.1142/S0219877021500048

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