AI Monetization: Strategies for Profitable Innovation

Rohan Sharma

Chapter Chapter 16 in AI and the Boardroom, 2024, pp 203-213 from Springer

Abstract: Abstract How can your organization turn AI from an innovation into a revenue driver? AI is more than a technological leap—it is a transformative force that can reshape competitive landscapes. However, effectively monetizing AI requires a clear strategy to ensure it generates substantial value while aligning with broader business objectives. This chapter explores diverse AI monetization strategies, such as AI-as-a-Service (AIaaS), custom AI solutions tailored for specific industries, and integrating AI into products to enhance functionality or create new offerings. For example, OpenAI’s dual approach—subscription and pay-per-use models—demonstrates how monetizing AI can be both scalable and flexible, catering to varied customer needs. Key takeaway: Monetizing AI involves adopting the right business model, ensuring legal and ethical compliance, and continuously innovating. Is your organization prepared to leverage AI not just for efficiency, but for substantial growth and revenue generation?

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:979-8-8688-0796-1_16

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DOI: 10.1007/979-8-8688-0796-1_16

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