Artificial Intelligence as a Call for Retail Banking : Applying Digital Options Thinking to Artificial Intelligence Adoption

in Proceedings of the Thirtieth European Conference on Information Systems (ECIS 2022), Timisoara, Romania: Artificial Intelligence as a Call for Retail Banking : Applying Digital Options Thinking to Artificial Intelligence Adoption (2022)

Technology-driven challenges, both existing and emerging, require banks to invest in IT capabilities, especially in artificial intelligence (AI). Digital options theory presents a valuable guide rail for ... [more ▼]

Technology-driven challenges, both existing and emerging, require banks to invest in IT capabilities, especially in artificial intelligence (AI). Digital options theory presents a valuable guide rail for these investments. However, the nature of AI as a moving frontier of computing requires certain extensions to established digital option thinking. Based on interviews with 23 experts in the retail banking industry, we highlight the importance of thinking broadly when laying the foundation for AI options and being mindful of the dynamic effects of contextual factors. Drawing from digital options theory and the Technology-Organization-Environment framework as dual lens, our study adds a structured approach to consciously balance resources and AI-related capability investments with a broader consideration of the banking industry’s complex environment. In this way, our study complements recent research on the interplay between incumbents’ resources and digital opportunities. [less ▲]

Industrielle Energieflexibilität im Energiesystem

in Energieflexibilität in der deutschen Industrie : Ergebnisse aus dem Kopernikus-Projekt - Synchronisierte und energieadaptive Produktionstechnik zur flexiblen Ausrichtung von Industrieprozessen auf eine fluktuierende Energieversorgung (SynErgie) (2019)

Energy from renewable resources is not always readily available. Depending on the season and the weather, the power made available by solar parks or wind turbines varies, for example. Due to the ... [more ▼]

Energy from renewable resources is not always readily available. Depending on the season and the weather, the power made available by solar parks or wind turbines varies, for example. Due to the continuous expansion of renewable energies, the volatility in the energy system will become more and more pronounced in the future. Preparing and adapting the industry to the changing supply structures is a major challenge for the next few decades. In the future, companies must be able to design their processes and operational organization in such a way that energy consumption can at least partially adapt flexibly to the volatile energy supply. In addition to developing technologies, Concepts and measures to make industrial processes more energetic, a second focus of future work is the development of a consistent IT infrastructure with which companies and energy providers can provide and exchange information from the production machine to the energy markets in the future. This leads to a paradigm shift in the operation of industrial processes - away from continuous and purely demand-driven energy consumption towards the adaptable, energy-flexible operation of industrial plants. This reference work presents the most important results of the research in the context of the Kopernikus project Synergy and clarifies trend-setting findings for further developments in the still young field of industrial energy flexibility. [less ▲]