Leveraging Platform Thinking to exploit Generative AI: a Business Model Transformation perspective

Over the past decade, the rise of digital platforms has significantly transformed business landscapes, prompting numerous firms to adopt platform-centric models. These models thrive on the inherent network effects that facilitate consumer interactions and leverage direct network externalities. The development of two-sided platforms, where distinct customer groups interact through a platform, exemplifies this trend, evolving into multisided platforms that broaden their ecosystem and enhance value creation. The integration of Artificial Intelligence into these platforms has accelerated their significance, enhancing scalability and global reach. This study focuses on the intersection of AI and two or multi-sided platforms, using ChatGPT as a case study to explore the evolution of its business model within the platform thinking framework. It highlights Artificial Intelligence's potential to transform business models towards a more interconnected, platform-based approach, emphasizing the strategic shift in value creation and customer engagement. This research contributes to understanding the long-term impact of Artificial Intelligence on platform-based business models, underscoring the importance of strategic integration of AI for sustainable growth and market adaptability.