IDEAS home Printed from https://ideas.repec.org/a/eee/jbrese/v129y2021icp849-859.html
   My bibliography  Save this article

How does artificial intelligence enable and enhance value co-creation in industrial markets? An exploratory case study in the healthcare ecosystem

Author

Listed:
  • Leone, Daniele
  • Schiavone, Francesco
  • Appio, Francesco Paolo
  • Chiao, Benjamin

Abstract

The technological revolution brought about from the digital transformation is dramatically reshaping how firms co-create value in B2B industrial markets. Among the many forms digital technologies can take, artificial intelligence is having the strongest pervasive impact. Relying upon empirical evidence stemming from a case study in the healthcare industry, our research aims at understanding how different types of artificial intelligence-based solutions support firms in co-creating value in B2B industrial markets. We advance an integrative framework having two iterative loops. The first iterative loop connects the technology service providers with the healthcare customers, showing how artificial intelligence-based customer-centric solutions are co-created through perceptive and responsive mechanisms; the second iterative loop connects the healthcare customers with the patients, enhancing operational practices through users’ knowledge and resulting in better care and improved patient journey. Implications for theory and practice are discussed and ideas for future research are presented.

Suggested Citation

  • Leone, Daniele & Schiavone, Francesco & Appio, Francesco Paolo & Chiao, Benjamin, 2021. "How does artificial intelligence enable and enhance value co-creation in industrial markets? An exploratory case study in the healthcare ecosystem," Journal of Business Research, Elsevier, vol. 129(C), pages 849-859.
    • Handle: RePEc:eee:jbrese:v:129:y:2021:i:c:p:849-859
    DOI: 10.1016/j.jbusres.2020.11.008
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0148296320307517
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jbusres.2020.11.008?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Lehoux, P. & Daudelin, G. & Williams-Jones, B. & Denis, J.-L. & Longo, C., 2014. "How do business model and health technology design influence each other? Insights from a longitudinal case study of three academic spin-offs," Research Policy, Elsevier, vol. 43(6), pages 1025-1038.
    2. Grewal, Dhruv & Roggeveen, Anne L. & Nordfält, Jens, 2017. "The Future of Retailing," Journal of Retailing, Elsevier, vol. 93(1), pages 1-6.
    3. Teece, David J., 2018. "Profiting from innovation in the digital economy: Enabling technologies, standards, and licensing models in the wireless world," Research Policy, Elsevier, vol. 47(8), pages 1367-1387.
    4. Wang, Yichuan & Hajli, Nick, 2017. "Exploring the path to big data analytics success in healthcare," Journal of Business Research, Elsevier, vol. 70(C), pages 287-299.
    5. Halinen, Aino & Tornroos, Jan-Ake, 2005. "Using case methods in the study of contemporary business networks," Journal of Business Research, Elsevier, vol. 58(9), pages 1285-1297, September.
    6. Luca Gastaldi & Francesco Paolo Appio & Mariano Corso & Andrea Pistorio, 2018. "Managing the exploration-exploitation paradox in healthcare," Post-Print halshs-02292327, HAL.
    7. Cantù, Chiara & Corsaro, Daniela & Snehota, Ivan, 2012. "Roles of actors in combining resources into complex solutions," Journal of Business Research, Elsevier, vol. 65(2), pages 139-150.
    8. Vargo, Stephen L. & Maglio, Paul P. & Akaka, Melissa Archpru, 2008. "On value and value co-creation: A service systems and service logic perspective," European Management Journal, Elsevier, vol. 26(3), pages 145-152, June.
    9. Andrew M. Pettigrew, 1990. "Longitudinal Field Research on Change: Theory and Practice," Organization Science, INFORMS, vol. 1(3), pages 267-292, August.
    10. Ramaswamy, Venkat & Ozcan, Kerimcan, 2018. "What is co-creation? An interactional creation framework and its implications for value creation," Journal of Business Research, Elsevier, vol. 84(C), pages 196-205.
    11. Königstorfer, Florian & Thalmann, Stefan, 2020. "Applications of Artificial Intelligence in commercial banks – A research agenda for behavioral finance," Journal of Behavioral and Experimental Finance, Elsevier, vol. 27(C).
    12. Corsaro, Daniela, 2019. "Capturing the broader picture of value co-creation management," European Management Journal, Elsevier, vol. 37(1), pages 99-116.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bag, Surajit & Dhamija, Pavitra & Singh, Rajesh Kumar & Rahman, Muhammad Sabbir & Sreedharan, V. Raja, 2023. "Big data analytics and artificial intelligence technologies based collaborative platform empowering absorptive capacity in health care supply chain: An empirical study," Journal of Business Research, Elsevier, vol. 154(C).
    2. Abou-Foul, Mohamad & Ruiz-Alba, Jose L. & López-Tenorio, Pablo J., 2023. "The impact of artificial intelligence capabilities on servitization: The moderating role of absorptive capacity-A dynamic capabilities perspective," Journal of Business Research, Elsevier, vol. 157(C).
    3. Chang, Victor & Doan, Le Minh Thao & Ariel Xu, Qianwen & Hall, Karl & Anna Wang, Yuanyuan & Mustafa Kamal, Muhammad, 2023. "Digitalization in omnichannel healthcare supply chain businesses: The role of smart wearable devices," Journal of Business Research, Elsevier, vol. 156(C).
    4. Hui Zhang & Huanhuan Xiong & Jianxin Xu, 2022. "Dynamic Simulation Research on the Effect of Governance Mechanism on Value Co-Creation of Blockchain Industry Ecosystem," Sustainability, MDPI, vol. 14(12), pages 1-18, June.
    5. Adela Laura Popa & Naiana Nicoleta Ţarcă & Dinu Vlad Sasu & Simona Aurelia Bodog & Remus Dorel Roşca & Teodora Mihaela Tarcza, 2022. "Exploring Marketing Insights for Healthcare: Trends and Perspectives Based on Literature Investigation," Sustainability, MDPI, vol. 14(17), pages 1-21, August.
    6. Bahoo, Salman & Cucculelli, Marco & Qamar, Dawood, 2023. "Artificial intelligence and corporate innovation: A review and research agenda," Technological Forecasting and Social Change, Elsevier, vol. 188(C).
    7. Omrani, Nessrine & Rivieccio, Giorgia & Fiore, Ugo & Schiavone, Francesco & Agreda, Sergio Garcia, 2022. "To trust or not to trust? An assessment of trust in AI-based systems: Concerns, ethics and contexts," Technological Forecasting and Social Change, Elsevier, vol. 181(C).
    8. Mura, Rita & Vicentini, Francesca & Botti, Ludovico Maria & Chiriacò, Maria Vincenza, 2023. "Economic and environmental outcomes of a sustainable and circular approach: Case study of an Italian wine-producing firm," Journal of Business Research, Elsevier, vol. 154(C).
    9. Junaid, Muhammad & Zhang, Qingyu & Cao, Mei & Luqman, Adeel, 2023. "Nexus between technology enabled supply chain dynamic capabilities, integration, resilience, and sustainable performance: An empirical examination of healthcare organizations," Technological Forecasting and Social Change, Elsevier, vol. 196(C).
    10. Ana Belen Tulcanaza-Prieto & Alexandra Cortez-Ordoñez & Chang Won Lee, 2023. "Influence of Customer Perception Factors on AI-Enabled Customer Experience in the Ecuadorian Banking Environment," Sustainability, MDPI, vol. 15(16), pages 1-22, August.
    11. Rengarajan, Srinath & Narayanamurthy, Gopalakrishnan & Moser, Roger & Pereira, Vijay, 2022. "Data strategies for global value chains: Hybridization of small and big data in the aftermath of COVID-19," Journal of Business Research, Elsevier, vol. 144(C), pages 776-787.
    12. Angelos I. Stoumpos & Fotis Kitsios & Michael A. Talias, 2023. "Digital Transformation in Healthcare: Technology Acceptance and Its Applications," IJERPH, MDPI, vol. 20(4), pages 1-44, February.
    13. Abbate, Stefano & Centobelli, Piera & Cerchione, Roberto, 2023. "The digital and sustainable transition of the agri-food sector," Technological Forecasting and Social Change, Elsevier, vol. 187(C).
    14. Singha, Sumanta & Arha, Himanshu & Kar, Arpan Kumar, 2023. "Healthcare analytics: A techno-functional perspective," Technological Forecasting and Social Change, Elsevier, vol. 197(C).
    15. Wang, Lei & Zhou, Yahong & Chiao, Benjamin, 2023. "Robots and firm innovation: Evidence from Chinese manufacturing," Journal of Business Research, Elsevier, vol. 162(C).
    16. Azadi, Majid & Yousefi, Saeed & Farzipoor Saen, Reza & Shabanpour, Hadi & Jabeen, Fauzia, 2023. "Forecasting sustainability of healthcare supply chains using deep learning and network data envelopment analysis," Journal of Business Research, Elsevier, vol. 154(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Giorgia Nigri & Mara Del Baldo & Armando Agulini, 2020. "Governance and accountability models in Italian certified benefit corporations," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(5), pages 2368-2380, September.
    2. Burström, Thommie & Parida, Vinit & Lahti, Tom & Wincent, Joakim, 2021. "AI-enabled business-model innovation and transformation in industrial ecosystems: A framework, model and outline for further research," Journal of Business Research, Elsevier, vol. 127(C), pages 85-95.
    3. Cisnetto, Valentina & Barlow, James, 2020. "The development of complex and controversial innovations. Genetically modified mosquitoes for malaria eradication," Research Policy, Elsevier, vol. 49(3).
    4. Hsin-Hui Chou & Chao-Chin Huang & Pei-Yun Tu, 2023. "Towards becoming a service-dominant enterprise: an actor engagement perspective," Service Business, Springer;Pan-Pacific Business Association, vol. 17(2), pages 607-632, June.
    5. Butler, Bella & Soontiens, Werner, 2015. "Offshoring of higher education services in strategic nets: A dynamic capabilities perspective," Journal of World Business, Elsevier, vol. 50(3), pages 477-490.
    6. Boukis, Achilleas & Kabadayi, Sertan, 2020. "A classification of resources for employee-based value creation and a future research agenda," European Management Journal, Elsevier, vol. 38(6), pages 863-873.
    7. Mele, Cristina & Russo Spena, Tiziana & Kaartemo, Valtteri & Marzullo, Maria Luisa, 2021. "Smart nudging: How cognitive technologies enable choice architectures for value co-creation," Journal of Business Research, Elsevier, vol. 129(C), pages 949-960.
    8. Hedvall, Klas & Jagstedt, Siri & Dubois, Anna, 2019. "Solutions in business networks: Implications of an interorganizational perspective," Journal of Business Research, Elsevier, vol. 104(C), pages 411-421.
    9. Cecilia Rossignoli & Francesca Ricciardi & Sabrina Bonomi, 2018. "Organizing for Commons-Enabling Decision-Making Under Conflicting Institutional Logics in Social Entrepreneurship," Group Decision and Negotiation, Springer, vol. 27(3), pages 417-443, June.
    10. Yuliya Snihur & Christoph Zott & Raphael (Raffi) Amit, 2021. "Managing the Value Appropriation Dilemma in Business Model Innovation," Strategy Science, INFORMS, vol. 6(1), pages 22-38, March.
    11. Chien-Hsing Wu & Chuan-Chun Wu, 2019. "Determinants of Social Community Value Creation: An Exploratory Empirical Study," Journal of Information & Knowledge Management (JIKM), World Scientific Publishing Co. Pte. Ltd., vol. 18(04), pages 1-26, December.
    12. Blasco-Arcas, Lorena & Alexander, Matthew & Sörhammar, David & Jonas, Julia M. & Raithel, Sascha & Chen, Tom, 2020. "Organizing actor Engagement: A platform perspective," Journal of Business Research, Elsevier, vol. 118(C), pages 74-85.
    13. Pujadas, Roser & Valderrama, Erika & Venters, Will, 2024. "The value and structuring role of web APIs in digital innovation ecosystems: the case of the online travel ecosystem," LSE Research Online Documents on Economics 121118, London School of Economics and Political Science, LSE Library.
    14. Anthony Okoeguale, 2023. "Brand Value Co-creation Revisited: A Critical Review of Studies," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 12, March.
    15. Agndal, Henrik & Chetty, Sylvie & Wilson, Heather, 2008. "Social capital dynamics and foreign market entry," International Business Review, Elsevier, vol. 17(6), pages 663-675, December.
    16. Best, Bernadette & Miller, Kristel & McAdam, Rodney & Maalaoui, Adnane, 2022. "Business model innovation within SPOs: Exploring the antecedents and mechanisms facilitating multi-level value co-creation within a value-network," Journal of Business Research, Elsevier, vol. 141(C), pages 475-494.
    17. Hou, Hong & Shi, Yongjiang, 2021. "Ecosystem-as-structure and ecosystem-as-coevolution: A constructive examination," Technovation, Elsevier, vol. 100(C).
    18. Sengupta, Pooja & Biswas, Baidyanath & Kumar, Ajay & Shankar, Ravi & Gupta, Shivam, 2021. "Examining the predictors of successful Airbnb bookings with Hurdle models: Evidence from Europe, Australia, USA and Asia-Pacific cities," Journal of Business Research, Elsevier, vol. 137(C), pages 538-554.
    19. Tian, Jiamian & Coreynen, Wim & Matthyssens, Paul & Shen, Lei, 2022. "Platform-based servitization and business model adaptation by established manufacturers," Technovation, Elsevier, vol. 118(C).
    20. Ruokolainen, Jari & Nätti, Satu & Juutinen, Milla & Puustinen, Juha & Holm, Anu & Vehkaoja, Antti & Nieminen, Hannu, 2023. "Digital healthcare platform ecosystem design: A case study of an ecosystem for Parkinson's disease patients," Technovation, Elsevier, vol. 120(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbrese:v:129:y:2021:i:c:p:849-859. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jbusres .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.