The platform companies have created value at incredible rates. They grow quickly and own few assets, and have all made use of artificial intelligence. Legacy companies can learn from these platforms. Is it possible for legacy companies to use this business model as well? Legacy firms that have successfully done that should be looked at by companies. Data should come with the relationship. An IT services architecture is based on an application programming interface. Pick out the key decisions that need to be made and gather the data to train models. The customer wants a seamless process. Use data from across the network to improve models and offerings.
The growth of artificial intelligence has enabled a variety of new strategies and business models. The companies that have been most successful in employing these models have been multi-sided platforms, in which a company is at the hub of the business network.
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