Integrate generative AI into your business strategy

Has Generative AI lived up to its transformative promise?

2023 was undoubtedly the year we all played with Generative AI. 2024 should be the year it could transform your business.

Now, a little over a mere 13 months since ChatGPT launched, we can reflect on how it's changed things.

There is already a sense of the hype-cycle shifting with increasing frustration over what it can't do.

In my experience, a lot of this is based on a combination of misuse and unrealistic expectations.

Where to from here?

I remain optimistic about the possibilities of Generative (and other forms of) AI.

Like any tool, I am sure it can - and almost certainly will - be used badly and for bad purposes. But that doesn't detract from the opportunities to use it well and for good purposes.

So, how can we ensure that we remain on the right side of that equation?

Here are my tips:

1. Always start with a business need. As with most new technologies there will almost certainly be more things that you *could* do than that you *should* do with it. Trying to everything at once, or prioritising at random will leave you chasing your tail. A clear business strategy will help you to prioritise where to put your efforts.
   
   
2. Think different, not just better. AI will enable us to do many things that we already do, but better - faster, more consistently, more cheaply and at higher volume or with fewer people. While that's invariably a good thing, let's not lose sight of the opportunities to do things differently or to do different things. We need to be thinking about new products, services, processes, business models and strategies as much as we are thinking about improving the efficiency of existing ones.
   
   
3. Think beyond chatbots: We've got think beyond typing questions into the ChatGPT/Bard etc. prompt box and then copy/pasting the answers into whatever else we're doing. We need to seamlessly integrate AI into our existing tools and processes, making it as ubiquitous and unintrusive in our daily operations as electricity or Wi-Fi.
   
   (We're already building it into StratNavApp.com where it helps users develop and execute better business strategies without them being aware of the details of the prompts and responses being written and consumed in the background!)
   

Reach out if you need help integrating AI into your business strategy.