How a software facilitates the start of the AI Marketplace
“More than half of all companies fail in business model development because they reduce complexity instead of leveraging it,” says Marvin Wiest, founder and Co-CEO of Ventecon. His mission is to bring business models to life through the ‘Network-Based View’ – a new approach to business model development.
In his childhood Wiest built tree houses, founded soccer clubs, developed his own card games and dreamed of becoming an inventor. Today he analyzes and simulates market interventions with his own software. Then as now at his side: Patrick Beckedorf. With him, Wiest fulfilled his childhood dream last year and founded the Karlsruhe-based start-up company Ventecon.
Software structures complex markets
For their view of networks, the two young entrepreneurs rely on Ventecon’s network mining software: a program that structures complex markets and provides an overview of roles, players and their relationships in the respective value network.
How can this software help the AI Marketplace to succeed? Since the end of April, Ventecon has been a partner in the AI marketplace project and is taking a close look at the AI market. “In the AI Marketplace, we are using the software to analyze the AI market in a first step and to see what the impact will be if we place our AI marketplace in this market,” says Leon Özcan, Project Manager of the AI Marketplace.
Katrin Menke from UNITY is responsible for modeling and analyzing the value-added network with the software. The management consultancy for innovation and digital transformation is a consortium partner in the project. At UNITY the (re-)design and analysis of value-added networks is a proven methodology for business model testing and development.
“In recent years market players have become increasingly networked, especially in B2B business. As a result, the complexity in the respective markets has increased significantly,” the expert explains. Ventecon’s software makes it possible to clearly display this complexity and the dynamics of the AI market and to make it usable for the planned AI marketplace. The insights gained from the analyses are directly incorporated into the business model development of the AI marketplace.
Using Ventecon’s software, UNITY first models the AI market without the AI marketplace in an iterative process. “We want to find out the relationships between the various roles in the market and the mechanisms that work between them,” explains Katrin Menke. She was surprised by the high fragmentation of the AI market. In order to obtain as real a picture of the market as possible, she is in close exchange with her UNITY colleagues, Ventecon and other AI marketplace partners for modeling and analysis.
“Implicit knowledge can be made explicit via a digital whiteboard, already existing data can be imported via a sophisticated plug-in system of the software,” says Markus Lau, Business Developer at Ventecon.
Order by mouse click
With a mouse click, the network appears as a clear map, each role is shown as a circle. All circles are connected with lines. The lines represent the value streams between the roles. Four colors stand for four clusters, which Katrin Menke identified with the help of the software: Infrastructure, value creation, regulating roles, communication.
“The roles in the clusters show similar interaction patterns and their value promises are related in terms of content,” explains Katrin Menke. What is noticeable is that some circles are larger than the others.
These roles are central to the AI marketplace
These roles appear to be particularly relevant for the overall network after an automated structure analysis has been performed. AI developers and implementers, as well as the manucfacturing industry, data scientists and business consultants, bundle and share a lot of information. She doesn’t want to reveal any more, since there is no such analysis of the AI market yet. But one thing is clear: “The network is highly relevant for the business model of the AI marketplace,” says Katrin Menke.
Based on the data entered and with the help of Artificial Intelligence, the next step will be to investigate the effects of the AI marketplace becoming part of the current AI market. “The goal is to be able to use the data to demonstrate various scenarios as to how the business model of the AI marketplace can work particularly well in the AI market,” says Ventecon founder Marvin Wiest.
With the help of the network map, it is now possible to understand and evaluate the market better than before, identify profitable business cases and derive recommendations for operationalization. But the last word in the development of business models is still in the hands of people.
“We don’t want to replace human intelligence, but rather expand it by means of artificial intelligence,” explains Ventecon founder Patrick Beckedorf. “So that even in a volatile, uncertain, complex and ambiguous world, we have confidence in our business model