How Artificial Intelligence Creates Business Differentiation Overnight
Many CEOs, Boards, and Founders have a vision how therE company could be better than its closest competitor.
These visions manifest as various initiatives following a strategic plan outlining the objectives and perhaps even the measurable goals.
Classically you can adjust only so many variables to achieve the desired outcome. If you have the free capital or equity in share value you could acquire the skill or technology. Or you could build it, like a knowledge base which can transform how you solve problems at a record pace. Regardless of the differentiation factor you hope to achieve, there exists the one largest problem which is the execution itself.
Anxious to make the change, you can see it and feel it. You know what it can do and how it will happen. However, you have to move hundreds or thousands of hearts and minds to get the momentum which would in turn speed the transition you wish to have.
All of this is a classic management process or change process which is well documented and studied. You have an idea, you make a plan, you execute that plan and trigger risk mitigation as the events unfold. And in due time you have your outcome, almost!. Easier said than done.
In prior studies you can see change outcome directly from onset in the share value of corporations. And in others you must reverse engineer how they achieved the differentiator and hope to mimic this.
We are not here to discuss the differentiator itself but more about how Artificial Intelligence mitigates one of the largest change delays. Humans.
What allows one company to stand apart from its vast competitors ?
A company has to have the mindset and willingness to change before it can embark on transformation. When we say company we mean the leadership has prepared the decision makers what it will take in time, cost and perseverance. This is achieved only when you have removed the barriers of inner-business politics and have everyone focused on the same target, following the same path and scorecard.
A total consequence would be nice but is not possible in all cases due in part by who we work with, our colleagues. Each person has their own plan and wish to build a path or legacy so its more important to try and reach an understanding based on simple methods of value proposition /cost-benefit analysis.
New technology is already by design complex. Trying to insert technology into a dynamic where everyone is not yet prepared is going to cause more anguish and unnecessary pain than it should. It cannot be fully alleviated due to human nature and emotionality, however, it can be decreased and signs known to leadership when it is occurring and mitigation in place to address it.
The differentiation if needed or wanted equally by the lead stakeholders then you can likely overcome the barriers to use Artificial Intelligence as a means to overpower and outpace your largest competitor.
We will continue this as a multi-part series and also provide workshops for all executives planning or operating programs where A.I. is used to help shape your company.