Truace
Subscribe

The GenAI is out of the bottle: generative artificial intelligence from a business model innovation perspective

Abstract The introduction of ChatGPT in November 2022 by OpenAI has stimulated substantial discourse on the implementation of artificial intelligence (AI) in various domains such as academia, business, and society at large. Although AI has been utilized in numerous areas for several years, the emergence of generative AI (GAI) applications such as ChatGPT, Jasper, or DALL-E are considered a breakthrough for the acceleration of AI technology due to their ease of use, intuitive interface, and performance. With GAI,…

By the Truvace desk2 min read1 sourcePeer-reviewedTRV-2026-1313· cite & verify
The GenAI is out of the bottle: generative artificial intelligence from a business model innovation perspective
Recording of discussion - WMF Annual Plan 2023-34 - regarding Future Audiences by LWyatt (WMF). CC BY-SA 4.0 · https://creativecommons.org/licenses/by-sa/4.0

In brief

By September 2023, after OpenAI introduced ChatGPT in November 2022, a peer-reviewed study examined generative AI from a business model innovation perspective. It conducted a qualitative scoping review of 513 sources and formulated six propositions about how GAI affects firms, illustrated with examples from software engineering, healthcare and financial services.

The work matters for business because it frames GAI not only as a tool for generating texts, images, audio, code and video but as a driver of new or improved business models. What remains uncertain from the abstract alone is how the six propositions perform in practice across different firm sizes and regulatory contexts, and what costs or implementation barriers accompany adoption.

Main points

  1. ChatGPT was introduced in November 2022 by OpenAI, stimulating discourse on AI implementation in academia, business and society.
  2. Study develops six propositions on impact of GAI on businesses and discusses three industry examples: software engineering, healthcare, and financial services.
  3. Method is qualitative content analysis using scoping review methodology drawing from 513 data points including academic publications, company reports, press releases, news articles, interviews and podcasts.

The gain

Generative AI allows businesses to create texts, images, audio, code and video with ease of use and intuitive interfaces, enabling development of new or improved business models.

The rundown

The source identifies specific GAI applications beyond ChatGPT, including Jasper and DALL-E, and notes AI had been used for several years prior but GAI is seen as a breakthrough.

The analysis sample is described as 513 data points comprising academic publications, company reports, and public information such as press releases, news articles, interviews, and podcasts.

The stated contributions are six comprehensive propositions outlining impact on businesses and discussion of software engineering, healthcare, and financial services as illustrative sectors.

Sources

  1. Peer-reviewedReview of Managerial Science2023-09-13

The debate