AI DRIVEN INNOVATIVE BUSINESS MODELS: STUDY OF WOMEN-OWNED MICRO-ENTERPRISES IN INDIA

Leena Sharad Shimpi; Saksham Kumar Srivastava; Raman Srivastava; Aishwarya Awasthi; Vanshita Mishra

doi:10.29121/shodhkosh.v5.i6.2024.6158

Authors

Dr. Leena Sharad Shimpi Associate Professor, Department of Commerce, Babasaheb Bhimrao Ambedkar University
Dr. Saksham Kumar Srivastava Assistant Professor, Department of Commerce, Faculty of Commerce, University of Lucknow
Dr. Raman Srivastava Subject Expert, Faculty of Commerce, University of Lucknow
Aishwarya Awasthi Research Scholar, Department of Applied Economics, Faculty of Commerce, University of Lucknow
Vanshita Mishra Research Scholar, Department of Applied Economics, Faculty of Commerce, University of Lucknow

DOI:

https://doi.org/10.29121/shodhkosh.v5.i6.2024.6158

Keywords:

Artificial Intelligence, Business Model, Micro-Enterprise, Women Entrepreneurs, Sustainability

Abstract [English]

Fostering entrepreneurship, women empowerment and innovation in small business has been key focus in the recent times. With adoption of artificial intelligence (AI)-driven business models, the success stories of AI driven business models have surfaced recently. These businesses are not only examples of innovation and empowerment, they are also sustainable. Present study had adopted a qualitative, exploratory multiple-case study methodology. Each AI driven business model, selected for the present study, employs context-specific AI tools—from predictive diagnostics and performance analytics to ethical data labor platforms—creating scalable, inclusive, and economically empowering solutions. Notably, in India, these models are equipping rural women with digital tools, financial access, and skill development, thereby generating employment, enhancing public health, and enabling community-based education and sports enterprises. The results of this study also highlight that how AI-driven innovation, when ethically and locally applied, can foster resilient, grassroots entrepreneurship among women.

References

Advent International & Multiples to invest Rs 1,930 cr in Ananya Birla’s Svatantra Microfin https://economictimes.indiatimes.com/industry/banking/finance/advent-international multiples-to-invest-rs-1930-cr-in-ananya-birlas-svatantra microfin/articleshow/108211323.cms

Aiswarya, & Sangeetha, S. (2022). Augmenting Innovation: Artificial Intelligence among Women Entrepreneurs. RA Journal of Applied Research, 8(5), 232-238. Retrieved from https://rijbr.in/1/article/view/1366

Bai, C., Dallasega, P., Orzes, G., Sarkis, J., 2020. Industry 4.0 technologies assessment: a

Bhatia, R., & Sharma, S. (2020). "Impacts of AI on Small and Micro-Enterprises: A Review and Future Directions." International Journal of Entrepreneurship and Innovation Management, 24(2), 125-140. doi:10.1504/IJEIM.2020.105052245. Retrieved from https://ijrpr.com/uploads/V5ISSUE6/IJRPR29773.pdf

Business model innovation in digital servitization: conceptualizing dynamic

capabilities, AI capacities, business models and effects. Technol. Forecast. Soc.

Chaitanya India Fin Credit Pvt. Ltd has joined forces with Svatantra Microfin https://www.forbes.com/sites/anuraghunathan/2023/11/29/microfinance-company-of-billionaire-kumar-birlas-daughter-is-now-indias-second-largest-after-acquisition/?sh=4f3ca8d0240d

Change 197, 122903. https://doi.org/10.1016/j.techfore.2023.122903. DOI: https://doi.org/10.1016/j.techfore.2023.122903

Chidepatil, A., Bindra, P., Kulkarni, D., Qazi, M., Kshirsagar, M., & Sankaran, K. (2020). From Trash to Cash: How Blockchain and Multi-Sensor-Driven Artificial Intelligence Can Transform Circular Economy of Plastic Waste? Administrative Sciences, 10(2), 23. https://doi.org/10.3390/ADMSCI10020023 DOI: https://doi.org/10.3390/admsci10020023

Choudhury, A., & Maiti, J. (2021). "Artificial Intelligence in Micro-Enterprises: Adoption and Impact on Business Performance." Journal of Small Business Management, 59(2), 310-326. doi:10.1080/00472778.2020.1760156

Farayola, O. A., Abdul, A. A., Irabor, B. O., & Okeleke, E. C. (2023). Innovative business models driven by ai technologies: a review. https://doi.org/10.51594/csitrj.v4i2.608 DOI: https://doi.org/10.51594/csitrj.v4i2.608

Five Indian Women Entrepreneurs Breaking The Glass Ceiling In AI https://analyticsindiamag.com/it-services/five-indian-women-entrepreneurs-breaking-the-glass-ceiling-in-ai/?utm_

Geetha Manjunath https://en.wikipedia.org/wiki/Geetha_Manjunath?utm_

https://doi.org/10.1007/s11846-022-00549-1. DOI: https://doi.org/10.1007/s11846-022-00549-1

In India, Proparco and Svatantra work together to advance women's empowerment https://www.proparco.fr/en/actualites/india-proparco-and-svatantra-work-together-advance-womens-empowerment?utm_

Khaq, Z., Subroto, V. K., & Susanto, E. (2024). AI-Driven Strategies for Enhancing MSME Sales and Business Sustainability in the Digital Era. Journal of Management and Informatics, 3(2), 180–194. https://doi.org/10.51903/jmi.v3i2.28 DOI: https://doi.org/10.51903/jmi.v3i2.28

Kumar, A., & Singh, R. (2022). "The Role of AI in Enhancing Operational Efficiency of Micro-Enterprises." International Journal of Business and Management, 17(3), 45-58. doi:10.5539/ijbm.v17n3p45 DOI: https://doi.org/10.5539/ijbm.v17n2p45

Liboni, L.B., Cezarino, L.O., Alves, M.F.R., Chiappetta Jabbour, Venkatesh, V.G., 2023.

Mehta, A., & Saha, S. (2021). "Artificial Intelligence and Sustainable Practices in Micro-Enterprises." Journal of Cleaner Production, 279, 123456. doi:10.1016/j.jclepro.2020.123456 DOI: https://doi.org/10.1016/j.jclepro.2020.123456

Moving From Microfinance To Music - Ananya Birla https://www.entrepreneur.com/en-in/entrepreneurs/moving-from-microfinance-to-music-ananya-birla/288962?utm_

Nagalakshmi, M., & Reddy, C. (2024). AI-driven Business Model Innovation - Where Technology Meets Strategy. 16(1), 5–17. https://doi.org/10.70599/rvim/2024/306 DOI: https://doi.org/10.70599/rvim/2024/306

Nair, S., & Chatterjee, A. (2023). "AI-Driven Market Expansion Strategies for Micro-Enterprises." Journal of Business Research, 145, 456-467. doi:10.1016/j.jbusres.2022.11.045

Othman, Z. A., Tiun, S., Muda, Z., & Burhanudin, N. S. (2023). Intelligence Business Model Canvas Recommender for B40 Women Entrepreneurs. https://doi.org/10.1109/aciis59385.2023.10367370 DOI: https://doi.org/10.1109/ACIIS59385.2023.10367370

Patel, S., & Joshi, M. (2023). "AI-Driven Innovations in Micro-Enterprises: A Pathway to Sustainable Growth." Sustainability, 15(4), 1234-1250. doi:10.3390/su15041234

Patil, S. D., Husainy, A., & Hatte, P. R. (2024). Empowerment of Women Through Education and Training in Artificial Intelligence (pp. 132–149). IGI Global. https://doi.org/10.4018/979-8-3693-1435-7.ch008 DOI: https://doi.org/10.4018/979-8-3693-1435-7.ch008

Rai, A., & Kumar, P. (2025). "AI and Financial Inclusion: Opportunities for Micro-Enterprises." Journal of Financial Services Research, 38(1), 15-30. doi:10.1007/s10693-024-00420-3

role of sustainable dynamic capability. Rev. Manag. Sci. 17 (4), 1125–1146.doi.

Sahoo, D. R. (2024). Role of Artificial Intelligence in case of Micro Enterprises and Tribal Entrepreneurships for Sustainable Economic Development. https://doi.org/10.4108/eetsis.4835 DOI: https://doi.org/10.4108/eetsis.4835

Saivasan, R., & Lokhande, M. (2024). Empowering Women in the Digital Age : Leveraging AI for Economic Inclusion and Advancement. Arthshastra : Indian Journal of Economics & Research, 13(4), 62. https://doi.org/10.17010/aijer/2024/v13i4/174047 DOI: https://doi.org/10.17010/aijer/2024/v13i4/174047

Shimizu, K. (2023). Analysis of artificial intelligence-based technologies and approaches on sustainable entrepreneurship. Technological Forecasting and Social Change, 186, 122152. https://doi.org/10.1016/j.techfore.2022.122152 DOI: https://doi.org/10.1016/j.techfore.2022.122152

Singh, H., & Jain, R. (2024). "Leveraging AI for Skill Development in Micro-Enterprises: A Case Study Approach." International Journal of Training and Development, 28(2), 89-104. doi:10.1111/1468-2419.12265

Sj¨odin, D., Parida, V., Kohtam¨aki, M., 2023a. Artificial intelligence enabling circular

sustainability perspective. Int. J. Prod. Econ. 229, 107776 https://doi.org/10.1016/j.ijpe.2020.107776. DOI: https://doi.org/10.1016/j.ijpe.2020.107776

Svatantra-microfin-pvt.-ltd.https://sales.superagi.com/company/svatantra-microfin-pvt.-ltd.?utm_

Translating the environmental orientation of firms into sustainable outcomes: the

Verma, P., & Gupta, A. (2024). "Personalization in Micro-Enterprise Marketing: The Impact of AI." Journal of Marketing Theory and Practice, 32(1), 67-82. doi:10.1080/10696679.2023.2167890

Vohra, N., & Nanda, P. (2020). Harnessing Artificial Intelligence for Women Empowerment in India. International Journal of Research and Analytical Reviews (IJRAR), 7(2), 234-