This is a follow-up to Tony’s last Leadership Minute, which provided six steps for leaders interested in understanding and implementing artificial intelligence (AI).
This episode is sponsored by Acceleration Economy’s “Cloud Wars Top 10 Course,” which explains how Bob Evans builds and updates the Cloud Wars Top 10 ranking, as well as how C-suite executives use the list to inform strategic cloud purchase decisions. The course is available today.
00:58 — Generative AI has gone from zero to well over 100 million users in less than two months.
01:11 — Nearly every major technology company is integrating gen AI features into their products because it can lead to substantial improvements in efficiency, productivity, creativity, and decision making. Companies in any industry can leverage the power of gen AI.
01:37 — Here’s a framework for how you can approach using gen AI in your business.
- Identify opportunities: Consider content creation, personalized customer interactions, predictive modeling, and automating routine tasks.
- Develop a strategy: Your strategy for incorporating generative AI into your business process should include setting clear goals, designating roles and responsibilities, determining the needed resources, and creating a timeline for implementation.
- Experiment and pilot: Use these projects as learning experiences to understand how to best use generative AI in your business and then iterate and improve based on what you learn.
- Scale and optimize: Integrate AI across your business processes and optimize for better efficiency and performance.
- Data governance and ethical use: Develop robust data governance and ethical use policies for your AI implementations.
- Talent acquisition and development: Invest in hiring the right talent or upskilling your current team to get the specialized skills needed to design, develop, implement, and maintain generative AI.
- Collaboration and partnerships: Establishing strategic partnerships with AI tech providers, research institutions, and other businesses can accelerate your AI adoption and enhance its effectiveness.
03:51 — This framework will help you systematically incorporate generative AI into your business so that you can make the most of this revolutionary technology.