As nowadays the whole things is getting linked with technology and devices over internet and intranet as well (Aldinucci et al., 2018, Morley et al., 2019). Businesses now have the fortuitous to gather more digital data, get the indispensable perceptions, and revolutionize the business and thoughts (Gentsch, 2019, Huang et al., 2003, Loebbecke, 2019). As an outcome, we will most likely to see a much-needed advancement of the marketplaces: more rapidly marketplaces, thinner set-ups and procedures, vivacious trades and businesses, mounting returns, well versed and up-to-date customers, and vigorous and self-motivated businesses (Jarke & Radermacher, 1988, Scheer et al., 2012). On the consequence, better product provide more data and more users (Corea, 2019a, Ciuriak, 2019, Agarwal et al., 2020). This is called artificial intelligence cycle. This AI cycle can be described and elaborated pictorially as below (Åström, 2020, Kannan et al., 2000).
These discussions generate the critical point thoughts to:
Research Question- How are business models being converted by AI?
While industries across the businesses and countries are at a poles apart side by side of AI acceptance, it appears that the contemporary line of attack to AI policy is excessively thin as businesses generally emphasis on using AI for enlightening customer amenities, explore and analyze data, envisage performance to computerize amount of work, transaction and trading and more (Fountaine, et al., 2019, Kannan et al., 2000). The inclination of AI solicitation and adoption is not up to the satisfaction level and still not return effectively to speedily developing intelligence competences (Chui et al., 2018, Luo et al., 2019). Also, businesses every so often may short-term a business atmosphere of uncertainty and bitterness towards each other within corresponding businesses and countries (Akerkar, 2019, Burgess, 2017). This may be one of the reason for data collection, analytics, and evolving information and knowledge for AI business approach. Furthermore, most of the undeveloped and underdeveloped countries is not having potential infrastructure for digital transformation (Fountaine, et al., 2019, Liu, et al., 2020, Brock et al., 2019).The AI based business are still beyond them for establishment of essential digital data infrastructure enlargement (Gursoy et al., 2019, Chui et al., 2018). The absence of digital infrastructure, lack opportunity, disappoints data openings and digital innovations, creating it thought-provoking to address business data, information and knowledge cravings sufficiently — leave-taking businesses with archaic data, information, and intelligence (Chui et al., 2018, Akerkar, 2019, Muthuveloo et al., 2013). Although, the developed countries like United States, UK, European countries and some of the Asian countries like China , Japan, Korea, India and many more is having good infrastructure for AI based business (Liu, et al,., 2020, Gursoy et al., 2019, Schank, 1991).They have competent enough software developers to apply cutting edge decision making technology. The Hologram technology with artificial intelligence (AI) is now new innovative trends for business and marketing (Ghoreishi et al., 2020). Samsung in his white paper (Samsung, 2020) address the concept of hologram technology and its impact on next generation business. Samsung white paper address the issues of 5G vs 6G technology appearance and its appropriate influence on cutting edge business and explained the following Hologram technology as below (Samsung, 2020).
While AI and Hologram has the latent to renovate businesses, state-of-the-art business models, and trade across the globe (Benkler, 2019, Corea, 2019a). Trepidations ensuing in xenophobic data practices and confrontation to partaking data, information and knowledge may prevent its prospective. As a result, the leeway of generating and embracing huge comprehensive gigantic data ponds and live out at indigenous, countrywide, and worldwide levels go on imprecise. Hologram technology seizure truly immersive XR, High-Fidelity Mobile Hologram and digital replica. The pictorial outlooks is shown below as discussed in the Samsung white paper (Samsung, 2020). For detail configuration and discussion, readings on Hologram technology researcher can refer White paper released by Samsung (Samsung, 2020).
Artificial Intelligence is accepting the phenomenal changes of the business framework and transforming the business culture how to work in the digital era (Davenport, 2018, El-Najdawi et al., 1993, Hamscher, 1994, Metelskaia et al., 2018). Basically it is not just changing the culture of business but also fundamentally renovating the conventional thinking and significance of alliance and collaboration, vigorous competition, and digital and enriched innovation (Hagras, 2018, El-Najdawi et al., 1993, Niu et al., 2011, Schultel et al., 2017). While most AI inventiveness craft economical improvement by recognizing an exclusively innovative opening and breaks, pleasing to the eye contemporary energies, delivering a market fragment that others business tycoons have overlooked, or crafting fresh markets, linked devices that nourish a continual creek of digital data about functionality, treatment, fabrication, requests, automated and robotic help center and more to a significant setting will make even more captivating economical revolutions (Gentsch, 2018, Hagras, 2018, Liu, et al., 2020, Scheer, 2012, Maedche, 2019). That conveys us to a key and significant point: As the Internet of Thing (IoT) amalgamation permit us for the improvement of business atmospheres where customers and trades can act and work together (Schultel et al., 2017, Valanarasu, 2019, Chan et al., 2015, Chanson et al, 2019). How will it transform innovative business models using AI, Hologram and Internet of things further, as it will be imaginable to enterprise strategy understandings over products and things? The technology road map of IoT is described and defined as below (Valanarasu, 2019, Schultel et al., 2017, Chan et al., 2015, Chanson et al, 2019). This road map also depict the growth of innovative business platform is along with the respective algorithms, tools and technology development. The security is the big issue for the state of the art business model and platform (PĂUNESCU et al., 2016). We discussed the security issues in the nest section.