IKS: Reimagining Commerce through Intelligent Business Models

Abstract

Indian knowledge systems (IKS), which comprise great amounts of ancient wisdom, span across multiple disciplines; including philosophy, medicine (Ayurveda), mathematics, agriculture, spirituality and craftsmanship. With the shift in business models from traditional to technology-based, there is now a unique opportunity to innovate commerce by merging IKS with new intelligent business models that utilize artificial intelligence, big data and automation. This research paper focuses on the potential of developing intelligent business models that will create sustainable, ethical and holistic well-being through IKS and more importantly the ability to utilize this type of knowledge to develop intelligent business models that are focused on the creation of long-term value. By combining IKS and modern technology these intelligent business models will create a more inclusive, responsible and customerÀ×€–Vcommerce. The research paper discusses several industries (agriculture, wellness, sustainable fashion, e-commerce) that demonstrate the development of innovative intelligent business models while maintaining their cultural or ethical integrity. Additionally, this study will provide an overview of the opportunities and barriers to integrating IKS into contemporary business models and how India’s extraordinary legacy can play an important role in the evolution and future of international commerce.