Harnessing open strategy and AI for customer-driven product innovation

Abstract

This master's thesis explores the evolving role of open strategy, customer engagement, and artificial intelligence (AI) in driving innovation and enhancing product development in the camping and outdoor industry. As companies face increasing market complexity, integrating customer feedback through open strategy and using AI has become crucial. AI acts as a bridge between companies and customers, enabling dynamic co-creation processes where customers move from passive recipients to active contributors. The study examines whether AI-supported platforms and surveys represent a more meaningful way of involving customers in product development, ultimately fostering innovation. Using a mixed methods approach that includes expert interviews and consumer surveys, the study provides insights into the effectiveness of AI tools in capturing customer needs and translating them into actionable product improvements. The results highlight that AI offers significant opportunities to enhance innovation, particularly in key areas such as streamlining communication, optimizing data analysis, and improving processing efficiency. However, successful implementation hinges on both internal acceptance within companies and on external acceptance by customers - this externals acceptance is examined in this thesis using the TAM model. This work offers valuable implications for industry practitioners and contributes to the academic discourse on co-creation, open innovation and the strategic integration of AI in product development.

Date of Award	17 Oct 2024
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Peter V. Rajsingh (Supervisor)