Designing a Value Co-creation Model in Media Platforms by Explaining the Role of Open Innovation, Artificial Intelligence, and Business Intelligence

Document Type : Original Article

Authors

1 Assistant Prof., Department of Business Management, Faculty of Management and Economics, Tarbiat Modares University, Tehran, Iran.

2 MSc, Department of Business Management, Faculty of Management and Economics, Tarbiat Modares University, Tehran, Iran.

Abstract

Objective
Value co-creation through technology development is an environmental change that has faced new challenges in the media industry. Artificial intelligence and the tools developed by it have created fundamental changes in the industrial environment, and the media industry, like other industries, has been affected by this technological phenomenon. The co-creation of value refers to the joint actions of the audience and businesses to create value and develop solutions to meet the needs of the audience and is something beyond the value obtained from the consumption of the service or product. In other words, co-creation of value requires shared experiences and is based on the idea that the main value of a business is not in the value chain, but at the point of interaction between the audience and the business. The result of digital development is changing relationships with audiences and internal processes and, as a result, value co-creation. Digital development affects all areas of business, especially relationships with audiences, and businesses must adapt their models to new digital technologies such as social networks, big data, the Internet of Things, and artificial intelligence. To achieve this match, more changes should be made in the main business operations to improve processes and communication with the audience. The co-creation of value is one of the goals and requirements of active platforms in the media industry, and artificial intelligence and business intelligence systems combine operational and historical data with analytical tools to provide business planners and decision-makers with competitive information for digital development. and also enable managers to understand their business position in the field of digital development and improve it; The current research aims to provide a model for co-creating the value of media platforms and explain the role of artificial intelligence, business intelligence, and open innovation in the digital development of platforms.
Research Methodology
The current study is practical in terms of its purpose. The method of data collection is considered to be a description of the correlation type (based on structural equation modeling), and it aims to investigate the effect of artificial intelligence, business intelligence, digital development, and open innovation on value co-creation. The theoretical foundations of this study were compiled using library sources and information databases. The statistical population of the research is made up of managers, experts, experts and activists of media platforms (including news media, advertising media, etc.), using Cochran's formula for the indeterminate population, 384 of them as a statistical sample, through the sampling method, Available was selected. The research scales to measure the variables were first extracted from theoretical foundations, and a questionnaire was designed based on a five-point Likert scale. Academic experts checked and confirmed the form and content validity of the questionnaire, and the construct validity was confirmed using factor analysis.
Findings
Artificial intelligence and business intelligence, by analyzing and defining the processes based on the preferences and expectations of the audience and identifying and understanding the hidden and obvious needs of the audience in content production, can lead to the digital development of platforms. Using the capacities of open innovation and the exchange of ideas with other media leads to the co-creation of value in media platforms. The research findings indicated a significant relationship between artificial intelligence and business intelligence with digital transformation. There are significant relationships between artificial intelligence and business intelligence with the co-creation of value, both directly and indirectly. In addition, the open innovation variable positively moderates the relationship between digital transformation and value co-creation.
 
Discussion & Conclusion
If the managers of media platforms want to provide the conditions and infrastructures for value co-creation, the presented model will help them to first pay attention to the identification of the platforms and infrastructures necessary for the establishment of artificial intelligence and business intelligence systems; Because if the conditions of its use are not understood correctly, digital development will face problems. It is recommended that the planners and policymakers of media platforms pay attention to all the legal, social, environmental, and technological conditions of artificial intelligence by identifying the existing gaps, and monitoring these aspects completely, as well as taking the necessary measures to take maximum advantage of creating its capacities. Artificial intelligence improves the audience experience and makes platforms easier and more effective. As a result, artificial intelligence affects the behavior of the audience when choosing a platform, and a smart platform in the field of media can improve audience satisfaction, save money and time, system integrity, and ease of access to content by the audience, which has a direct impact on digital development and co-creation of value. On the other hand, in media platforms, understanding the needs of the audience through the artificial intelligence system makes it easier to provide content and better-quality services, which will also bring value co-creation.

Keywords

Main Subjects

References

 
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Media Management Review
Volume 2, Issue 2
2023
Pages 218-236

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