This week's tip: Transforming your company with AI requires more than just adding AI tools.
During the rise of the internet, many businesses made a critical mistake: assuming that simply adding a website or online store transformed them into internet companies.
The reality was more complex:
Shopping Mall + Website ≠ Internet Company
To truly use the power of the internet, companies had to reorganize:
- they engaged in practices like pervasive A/B testing, to optimize outcomes
- they developed new roles and workflows to support these innovations
- they adopted rapid product iteration cycles
Today, we’re seeing a similar misconception with AI:
Any typical company + Generative AI technology ≠ AI Company
To become an AI company, you must reorganize
1. Build AI Capabilities:
AI companies need the resources—both technological and human—to execute multiple valuable AI projects systematically. This means having the right talent and technology, whether outsourced or in-house, to drive AI initiatives effectively.
2. Develop AI Literacy
There should be a sufficient understanding of AI across the organization. This involves setting up processes to identify, evaluate, and select AI projects that align with your business goals.
3. Align Strategy
Align your company's strategy to thrive in an AI-powered future. This involves not just adapting existing workflows but also setting new directions that leverage AI's strengths.
The Transformation
Transitioning to an AI company is not an overnight process.
An effective AI transformation program can take 2-3 years, but you should aim to see initial results within 6-12 months.
By committing to this transformation, you position your company ahead of competitors, unlocking new growth and efficiency opportunities.
Key Takeaway
Transforming your company into an AI-centric organization involves more than adopting AI tools; it requires a strategic overhaul.
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