AI And The 'Platform Pivot' At Benefitfocus

One of the relatively unsung benefits of artificial intelligence (AI) is that it can power companies whose business models are multi-sided platforms. That's the primary reason why there are massive numbers of AI applications at Facebook, Amazon, Uber, Airbnb and Google--you can't run a platform business without AI. The technology is critical for making the match between buyers and sellers, for knowing who's buying and selling what and for servicing large numbers of customers. Firms whose business models were not previously platform-based are noticing that they are an effective route to faster growth and higher valuations. This gives rise to the "platform pivot"--changing the primary business model to a platform, or at least adding it to existing business models.