How can AI make a difference?
The AI revolution will not be smooth. What action can you take now? How can AI help your team work better? Are you ready for the changes ahead?
Last week, The Economist asked What happened to the Artificial Intelligence Revolution?
It reflects a sense of hesitation in the AI rush. Maybe too much hype, a bubble about to burst, or just the summer break approaching?
Butchering the title of a famous book, things move fast and slow. GenAI is a powerful new software tool. Right now, there is no clear product/ market fit.
That will change soon enough. A lot of smart people and smart money are working on it. This is a normal part of the cycle.
Soon enough, new products and services will appear. There will be another wave of hype. Regardless of hype and fear or boom and bust, AI is a fantastic opportunity to build and grow your business.
What are the practical things to think about now? How can you improve? What can you learn from the early days of AI? What is the next right thing?
Bias to action:
Go all in on the opportunity if it's there. Use cases are thin on the ground, but there are some clear successes. For example, in customer service.
If you think you can see where there is product/ market fit for AI, get working on your startup.
Think about three ways AI might help you and your team work better:
AI assists workers - Workers complete most of the task but AI reviews for correctness or speeds up the work.
AI augments workers - AI learns how a worker works and replicates it, serving as an extension.
AI automates work - AI runs autonomously, completing tasks without supervision or intervention.
Are you ready?
AI doesn’t make problems disappear. Is your business in good shape to grab the opportunity? If things are tough, can you reset to use AI for future growth?
Data. Will your data restrict the value you can get from AI? Might AI unlock the value in unstructured data?
Culture. Are you a learning organisation? Will your culture embrace change or reject it?
Organisation. AI may demand organisational changes, break down barriers or rebuild new silos. Is your organisation fit for purpose?
Talent. Do you need to develop more skills in your existing team? Recruit for new types of people?
Leadership. Does AI demand that you lead from the top? Should you bring in a Chief AI Officer? Or is AI leadership about empowering your people?
Evolution is a better model for business change than transformation. If you are trying to build and run a great business, change is constant. Learning culture includes openness, patience and some level of tolerance for ambiguity.
You also need to make decisions. Do the next right thing when you don’t quite know what that is. AI amplifies that uncertainty. If you are exploring what that means for your business, I would love to hear from you.
Thanks for reading.