Digital servitization value co-creation framework for AI services: a research agenda for digital transformation in financial service ecosystems

Abstract

Innovative firms have rapidly developed artificial intelligence (AI) capabilities into their service ecosystems, essentially changing perceptions of what is service quality and service delivery in their respective industries. Nonetheless, the issues surrounding AI services remain relatively unknown. The purpose for this paper is to offer a digital servitization framework for understanding how AI services impact value perceptions, consumer engagement and firm performance measures. The authors use the financial service ecosystem to explore this topic. The authors explore relevant literature on digital servitization, service-dominant logic and AI/disruptive innovation. Next, a conceptual framework, organized by AI-Service Exchange Antecedents, Context of AI Usage and Digital Servitization Consequences, is developed. The authors conceptualize consequences for consumers and firms. The main findings suggest that the linkages between consumers, financial institutions and fintech companies with AI usage in a service ecosystem should be identified; how value is created among multiple SD Logic-AI network actors should be analyzed; and the effects of AI-consumer interactions (lower-level and higher levels of engagement) on firm performance measures should be explored. The conceptual framework identifies gaps in the literature and suggests research questions for future studies. This paper may assist practitioners with the development of AI-enabled banking activities that involve direct consumer engagement. To the authors’ best knowledge, this research agenda is the first comprehensive framework for understanding value co-creation in the context of AI in financial services, linking antecedents, usage and consequences.