9th Aug 2024
Artificial intelligence is here to stay. Here's how to learn all you can to move your business forward with artificial intelligence.
Artificial intelligence is becoming as essential to business success as the internet and smartphones. This article explores how companies can become 'A.I. fueled' and the critical role of leadership in driving AI adoption and implementation. It emphasizes the importance of asking the right questions and the human element in leveraging AI technologies effectively.
Davenport and Mittal found about 30 large companies that are 'A.I.-fueled.' These organizations don't leave AI implementation solely to data scientists and IT staff. Leaders must educate themselves about AI technologies to make informed decisions and rally their teams. United Franchise Group, for example, is working to change the mindset of their franchisees by introducing AI apps and demonstrating their business benefits.
Ray Titus emphasizes the importance of asking strategic questions about how AI can fuel business processes. He suggests asking at least three questions to start learning what you need to know and to get better answers. His book 'The Power of Questions' delves deeper into this approach. The ability to ask the right questions is crucial for uncovering deeper insights and driving smarter decision-making with AI.
Despite AI's transformative power, it's the people, not the technology, that drives success. AI needs to be managed by creative thinkers who can drive innovation and embrace change. At United Franchise Group, AI has made employees better at their current jobs, helped do more with less, and provided new ways to tackle big-picture items.
Many people fear being replaced by AI. Business leaders must alleviate these concerns by demonstrating how AI can help, not hurt, employees. The focus should be on how AI can augment human capabilities rather than replace them.
As AI becomes increasingly essential for business success, leaders must take an active role in understanding and implementing this technology. By asking the right questions, fostering a culture of innovation, and emphasizing the human element in AI adoption, companies can successfully leverage AI to drive growth and stay competitive. The books 'All In on AI' by Davenport and Mittal and 'The Power of Questions' by Ray Titus offer valuable insights for businesses looking to become 'A.I. fueled' in this rapidly evolving technological landscape.