Exploring the impact of AI on Web3 decentralized platform business model innovation

Advancements in information technologies have revolutionized business models (BMs), which are now increasingly based on digital platforms. The spread of Web3 has led to further development in this direction, giving rise to platform business models enabled by blockchain technology. At the same time, the advent of artificial intelligence (AI) has further expanded opportunities to innovate BMs. In this study we examine how the integration of AI influences BMs in blockchain-based platforms. We find that the integration of AI plays a key role in the three main dimensions of platform business models: value creation, value delivery, and value capture. We demonstrate, in particular, how AI enhances operational efficiency, strategic governance, and decision-making in Web3 platforms enabled by blockchains. Moreover, AI optimizes personalization, matching processes, and interactions in decentralized platforms. AI also fosters innovation in decentralized platform BMs and requires a skilled workforce. This research underscores how AI can improve performance in blockchain-based platforms, advancing scientific knowledge of decentralized platforms and offering recommendations for managers and policymakers on how to innovate their BMs and leverage AI to maximize value across platforms.