This chapter examines the intersection of Human-Centered Artificial Intelligence (HCAI) and business modeling, arguing that innovation requires a holistic approach. Drawing on established scholarship on business modeling, the chapter positions HCAI as both a technological and socio-ethical driver of systemic business model creation for new ventures and business model innovation for already existing companies. It highlights that business models are not merely firm-level constructs but relational systems that shape value creation across stakeholder networks as innovation can substantially increase positive or reduce negative environmental and social impacts through fundamental changes in business logic. The chapter extends this understanding by introducing the Human-Centered AI Business Model (HCAI-BM) that focuses on empowering humans and ensuring inclusively fairness as well as economic and technology efficiency. Through integrating transparency, accountability, and ethical design principles in AI-enabled business models, organizations can rebuild their architecture to create value for and with various stakeholders. The chapter concludes with a research agenda for academicians and practitioners to better understand how to thrive under evolving regulatory regimes, shifting societal expectations, and technological advancements, contributing to an economy that is both sustainable and just, as well as favor new theoretical development in the field of HCAI and business modeling.