Artificial intelligence (AI) enables new capabilities for enterprises and accelerates business model innovation within firms.Although rightly poised, the penetration and adoption of AI technology across organizations and customer offerings appear tobe slower than expected. Using a literature review, this paper highlights that current value processes in the business model donot address different value aspects sufficiently in AI-driven business models. This is followed by literature mapping, clusteranalysis, and the assessment of value theories to propose an alternate process-oriented value framework (value-identification,value-manifestation & value-capture). This paper also conducts corpus assessment on reviewed articles to highlight that currentstudies concentrate more on value-manifestation and value-capture than value-identification. Finally, we discuss how AItechnology contributes towards different value dimensions of the proposed framework and the need for a more comprehensiveapproach to include value-identification, manifestation, and capture for accelerated adoption of artificial intelligencetechnology within business model innovation.