Wong, Kwok Kwong
(2024)
AI-enabled value co-creation in B2B relationships: an exploratory study of the payments industry in Asia.
[Dissertation (University of Nottingham only)]
Abstract
In the rapidly changing landscape of the payments industry, there is a significant focus on AI in generating co-created value in partnership and collaboration with B2B customers and partners. The increasing demand for improved interoperability, operational efficiency, and enhanced customer experiences in the digital payments domain highlights the significant role of AI in enabling value creation. This research aims to investigate the potential of AI in driving value creation and the important considerations that leaders and managers must address to successfully integrate AI in the payments sector. As the dynamics of B2B interactions undergo a paradigm shift, recent literature underscores the significance of co-created value in augmenting overall experiences, emphasising the need for "structural fit" in these collaborative exchanges.
In the midst of continuous advancement of AI, participants in the payment industry are progressively acknowledging the importance of cooperative partnerships to exploit the potential of AI across multiple operational domains. And thus, collaboration among payment players and their partners has become imperative to navigate the swiftly evolving landscape. As this transformative development gains recognition, these industry participants are actively reshaping their operational frameworks, with a renewed focus on Know Your Customer (KYC) protocols and the incorporation of AI across diverse functional domains. These would include areas such as client servicing, customer marketing, operational enhancements, compliance procedures, fraud and risk management, and various facets of payment processing, reflecting a concerted effort to align with the evolving technological landscape.
This research thus, would uncover the current state of industry adoption, and the value and benefits of AI integration, in addition to, uncovering commonalities or differences in AI adoption strategies across organisations, considering various influential factors such as organisational size, resource allocation, skill proficiency, and cultural aspects for the payments industry. This would give rise to further exploration of AI's integration and interoperability within the B2B value co-creation spectrum. Through a systematic approach for conducting the research, the possible outcomes of the analysis and coding process could present a picture unique for B2B participants in the payments industry. Notably, aggregated dimensions, that warrant careful consideration in the seamless integration of AI-enabled value co-creation within the B2B sphere of the payments industry. By embracing the considerations and strategies outlined, organisational leaders can proactively position their entities for success in the ever-evolving payments landscape, fostering innovation, operational efficiency, and elevated customer experiences. And theoretical, this research contributes to an enriched understanding of the essential requisites for fostering seamless interactions and collaborations, while the managerial insights offer a holistic understanding of the broader implications of AI integration within the payments industry.
Actions (Archive Staff Only)
 |
Edit View |
Tools
Tools
![[img]](/style/images/fileicons/application_pdf.png)