Welcome, to AI for Business Newsletter.
3 Topics in 4 min:
1/ Taking AI Beyond IT
2/ 3 Possibilities for Using AI in Business
3/ The 3 Pillars of an AI Empowered Business
Let’s get into it...
The Unique Twist (GPTs)
Integral part of this newsletter is an AI for Business GPT Chat.
As you explore my content, the GPT is offering personalized insights tailored to your needs and relevant to your circumstances. It aligns with your specific interests, corresponds to your knowledge level, and adapts to your industry.
Behind the scenes, I am continuously training the GPT based on practical knowledge I acquire from applying generative AI in my career and in business.
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1/ Taking AI Beyond IT: A Strategic Business Decision
Generative AI is set to revolutionize enterprise operations. This goes beyond just enhancing decision-making and strategy; it's about uncharted transformations.
AI adoption needs a shift in perspective – from an IT-centric view to an enterprise-wide initiative. For business leaders, this means not just keeping up but staying ahead. They must define their AI goals and scenarios for the next 12 to 24 months to fully leverage these advancements.
Generative AI isn't just a passing trend in technology and business; it's a significant change in how we interact with machines, evolving from mere tools to integral partners in our processes.
From Everyday AI to Game-Changing AI
There are two emerging types of AI in enterprise: Everyday AI and Game-Changing AI.
Everyday AI is like a 'productivity partner'. Enabling workers to accelerate existing tasks for higher efficiency and speed.
However, this will soon become a basic expectation, a standard, not a competitive edge.
Game-Changing AI is a 'partner in creativity'. Enabling groundbreaking outcomes: new products, services, and methodologies.
This will disrupt business models and entire industries creating real transformation.
In essence, while Everyday AI sets the new baseline, Game-Changing AI holds the key to future enterprise evolution.
Note: This is a draft perspective, a snapshot of my current thoughts on the evolving role of AI in business strategy.
GPT Quick Dive: 2-Minute Exploration
Each week, I provide a topic-related question for further exploration. Paste the question to AI for Business GPT for actionable insights.
◢ How can business leaders in the [your industry] effectively integrate generative AI into their long-term strategic planning? ◤
2/ 3 Current Possibilities for Using AI in Business: A Personal Insight
The application of Generative AI is evolving rapidly. Here's how I see its current utilization in business:
1. Generative AI Wrapper Tools
These are ready-to-use tools that harness the APIs of large language models, such as OpenAI's ChatGPT.
Examples: Jasper for marketing copy, Perplexity as a smart Google alternative.
They're quick to implement and don't need hefty investments. But, let's be real – they're widely available, so don't expect a unique competitive advantage here.
2. Software Giants Integrating AI in Products
Big players are now embedding large language models into their platforms and products.
Examples: Salesforce Einstein in sales and Microsoft Co-Pilot across Office.
It's like giving an old tool a new edge. Sure, it adds value, but does not revolutionize your business process.
3. Company-Specific GPTs
This is where it gets interesting. Creating a tailored "CompanyGPT" might need upfront resources, but the payoffs are significant.
Examples: McKinsey's Lilli.
Imagine a tool that not only fits perfectly within your own systems but also addresses unique business needs, all while keeping your data safe.
So, what's my take?
Each strategy has its merits, but for a business looking to truly stand out, developing a bespoke CompanyGPT could be a game changer.
GPT Quick Dive: 2-Minute Exploration
Each week, I provide a topic-related question for further exploration. Paste the question to AI for Business GPT for actionable insights.
◢ What are the key considerations for a company planning to develop its own CompanyGPT, and how can they ensure it aligns with their specific business needs and data security requirements? ◤
3/ The 3 Pillars of an AI Empowered Business
Many businesses are stuck on the "how and where" to start. So, I am giving you here 3 things you need to get damn good at:
1. You need to know your business better than ever before.
This means understanding how your internal processes impact the company. It's about identifying areas where AI can enhance your business and add value.
2. You need to work, experiment and learn more efficiently than ever before.
This includes setting up a safe environment for testing, offering AI literacy training, updating your processes, upskilling your employees, and adopting a fail-fast mindset.
3. You need to iterate and improve more dynamically than ever before.
Teach your leaders to stay open to new ideas and feedback, whether it's from employees, user experiences or conversations with AI and refine or formulate your AI strategy to stay ahead of the curve.
In short, the 3 pillars of an AI empowered business are: Knowledge, Curiosity and Dynamic Strategy.
Businesses that want to get ahead and stay ahead need to create sustainable value through digital and AI transformation. And you need to establish a resilient and responsive organizational culture.
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Have a great day and until next time.
Roland
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