Nonceba Ntoyanto-Tyatyantsi, Linda Malinga
Abstract
Artificial intelligence (AI) technologies are transforming business models and strategies across industries and organisations. Numerous studies have investigated the impact of these disruptive technologies on business performance and design. To our knowledge, there is a lack of systematic reviews on the impact of AI on business models and strategies, especially with a focus on startups. In this paper, we addressed this gap by using a PRISMA framework and conducted a systematic literature review on this theme, utilising the Scopus database. We reviewed peer-reviewed articles and conference papers published in English and conducted a qualitative thematic analysis to identify key themes. The results indicated that implementing AI technologies in startups can improve efficiency and promote proficiency by influencing customer relationships, value propositions, key resources, activities and revenue streams. Moreover, adopting AI technologies in a startup can transform the business model from a product-based to a service-based one. Despite their direct impact on the value chain, these technologies also affect other business processes and functions, such as human resources. However, effectively leveraging these capabilities requires addressing associated challenges, including the need for human expertise, data security, and legal and ethical issues. These findings suggest that AI technologies have a ripple effect on business models and strategies. A change in one business strategy element impacts others. For example, introducing AI-driven task automation has an impact on human resources and capabilities. In addition, AI technologies can improve operational efficiency and proficiency through process optimisation, thereby enhancing performance across the startup value chain. AI adoption and implementation require a comprehensive approach from different levels of the organisation. The study highlights the need for further empirical research to deepen understanding of AI’s multifaceted effects on business models and strategies.