Master Thesis: AI-Driven Business Model Innovation in Manufacturing Industry: An In-Depth Look at Siemens
Author
Term
4. semester
Publication year
2024
Submitted on
2024-06-05
Pages
40
Abstract
Operational efficiency, innovation, and maintenance in the manufacturing industry have stepped into a new era with artificial intelligence integration. This thesis analyses Siemens AG and how three core technologies, MindSphere IoT Platform, Predictive Maintenance, and Digital Twin, impacted Siemens's business model. Comprehensive analysis indicates how AI impacts Siemens strategy, operational efficiency, and customer relationships using the Innovation Impact Analysis Model (IIAM), Business Model Canvas (BMC), Cost-Benefit Analysis, and System Thinking and Casual Loop Diagrams (CLDs). The findings show that Siemens’ key activities, key resources, customer engagement and revenue streams are impacted by AI integration. This demonstrates how AI can help drive innovation and efficiency, offering a competitive edge in the industry. This thesis adds to the understanding of AI-driven business model innovation and provides strategic recommendations for manufacturing industry companies to better adopt AI technologies into business models.
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