Book Description

There are three types of companies in the world: Companies that don't yet benefit from data and AI Companies that use data and AI for internal purposes only Companies that harness data and AI as an asset for competitive global growth Where does your business belong? In Growth Reinvented, business innovation expert Mika Ruokonen takes a deep dive into the rich new landscape of data and AI-enabled business models. Building on a framework of dozens of original case studies and company examples, Growth Reinvented teaches ambitious business leaders how to extract value from data and AI as a conduit for systemic change. Like the steam engine or electricity, data and AI are general-purpose technologies with the potential for powerful and disruptive growth. But current literature on the topic is limited to examining benefits contained within a company's existing products or services, with an emphasis on theory rather than pragmatic detail. Growth Reinvented raises the bar with a concrete and easy-to-use playbook of business model options that leaders can start applying to their data and AI operations. Backed by real-life examples, these models demonstrate options for generating fresh revenue and product/service pathways, including those that open the door to a radically new type of business or industry sector. In a climate of rapidly evolving technologies and fierce global competition, companies must continually interrogate their ability to stay relevant in target markets. Growth Reinvented shows how to do exactly that, with a series of impact-focused and progressive strategies. Get ahead of the competition, understand the challenges and start transforming your data and AI into new, profitable and futureproof business models today. How can Growth Reinvented add value to your business? Build general understanding and awareness Growth Reinvented offers a cohesive, easy-to-follow summary of existing information around data and AI-enabled business models. It brings technology and business thinking together to serve as a synthesis for you to review and apply in real life. Extra online resources are also available for those who want to expand their learning. Deliver financial results and create a competitive edge Growth Reinvented shows how to generate new information using data and AI-enabled business models. For instance, you can learn how to implement models in practice to drive scalable revenue channels and competitive advantage. Avoid common pitfalls and steer towards success: Using clear and detailed case studies, Growth Reinvented highlights the current opportunities and challenges that companies face around data, analytics, machine learning and AI commercialisation. Who is Growth Reinvented for? Business leaders: build a thorough understanding of the growth opportunities behind different kinds of data and AI-enabled business models. R&D professionals: understand the business potential of your data and AI inventions, to work in harmony with corporate decision-makers. Venture capitalists or financial analysts: decide whether to invest in a company that strives to harness data and AI commercially. Students or recent graduates: kickstart your career in data and AI, dotting the line between key technology and business decisions. Policy makers: Understand the business potential of data and AI so that you can create relevant governmental support programmes.