Artificial intelligence and value co-creation: a review, conceptual framework and directions for future research
Journal of Service Theory and Practice
ISSN: 2055-6225
Article publication date: 17 November 2023
Issue publication date: 2 January 2024
Abstract
Purpose
Artificial intelligence (AI) has a significant impact on value co-creation (VCC). However, a study providing a comprehensive summary of the current state of the art and common ground of the two fields is missing. The current study aims to fill this gap by conceptualizing the role of AI in VCC and customer decision-making.
Design/methodology/approach
The study reviews literature on VCC and AI together, including a total of 108 articles. To bring the literature together, the authors adopted the antecedents-mediators-outcomes framework and narrative approach that helped them develop a framework by integrating the antecedents, mediators and outcomes of AI-facilitated VCC. Furthermore, the authors also operationalized existing literature to facilitate an understanding of the role of AI in customer decision-making.
Findings
The study, in addition to identifying the common theoretical grounds of VCC and AI (human behavior, cognition and social interactions), operationalizes AI functionality, its characteristics and customer characteristics as the antecedents of AI-facilitated VCC. Moreover, based on literature, on the continuum of low-to-high involvement, four types of decision-making were identified as mediator of the relationship between AI characteristics, customer characteristics and VCC. Additionally, the authors found different categorizations of AI in literature as archetypes to support various forms of VCC.
Originality/value
The study contributes to the literature of VCC and AI by construing a comprehensive framework for analyzing AI's impact on VCC, envisioning customer–AI interaction as continual exchange of advantages in which characteristics of AI and customers play a critical role in customer decision-making and shaping VCC.
Keywords
Acknowledgements
The authors did not receive financial support for the research, authorship and publication of this article.
Citation
Chandra, B. and Rahman, Z. (2024), "Artificial intelligence and value co-creation: a review, conceptual framework and directions for future research", Journal of Service Theory and Practice, Vol. 34 No. 1, pp. 7-32. https://doi.org/10.1108/JSTP-03-2023-0097
Publisher
:Emerald Publishing Limited
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