Algorithmic Business—On the Way Towards Self-Driven Companies

The effects and implications of algorithmics and AI affect the entire corporate value added chain. According to the focus of the book, the “business

layer” of the AI business framework has foregrounded the “customer facing” processes and functions. In this chapter, the potentials for the entire

corporate value creation are briefly described. It will be shown that artificial intelligence can change the way of working in classical company areas

both sustainably and radically: By using artificial intelligence, companies can

not only exploit efficiency and productivity potentials but also cater better

to customers and thus create added value. In addition, the significance of the

ideas and potentials of so-called Conversational Commerce (Sect. 4.2) for

internal company functions and processes will be illustrated and explained

(Conversational Office). Finally, the areas of marketing, market research

and controlling (as relevant cross-sectional function) will be described and

explained in more detail. Furthermore, algorithmics and AI also have the

potential of reinventing business models; these topics will also be treated in

this chapter. Finally, it will be investigated whether it makes sense to install

the position of a chief artificial intelligence officer in companies.

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