Brock A. Pernice’s Post

🚀 Unlocking AI's True Potential: Lessons for Regulated Industries A fascinating article by Ethan Mollick sheds light on how enterprises should approach AI adoption. Here are some key takeaways: 1️⃣ AI isn't just about efficiency - it's a tool for innovation and growth. Companies focusing solely on cost-cutting may miss out on transformative opportunities. 2️⃣ Latent expertise matters. AI systems contain hidden knowledge that can be unlocked by domain experts who know how to ask the right questions and evaluate outputs. 3️⃣ Decentralize AI adoption. The most valuable AI use cases often come from frontline workers and managers, not just IT departments. 4️⃣ Embrace "learning by doing." Encourage experimentation and iteration to discover what works best for your unique context. 5️⃣ Share knowledge widely. Success comes from empowering employees to discover AI's potential and share their learnings across the organization. For regulated industries like healthcare, finance, and manufacturing, these insights are particularly crucial. The challenge lies in balancing innovation with compliance, unlocking AI's potential while navigating complex regulatory landscapes. At TrueVoice Growth Marketing™ , we've seen firsthand how a thoughtful, expert-driven approach to AI adoption can drive transformative growth - even in highly regulated environments. By combining deep industry knowledge with cutting-edge AI capabilities, it's possible to uncover game-changing opportunities while staying within regulatory bounds. How is your organization approaching AI adoption? Are you tapping into the latent expertise across your workforce? Let's discuss! https://lnkd.in/g3fmcF5g #AIAdoption #RegulatedIndustries #InnovationStrategy #GenerativeAI #TrueVoice https://lnkd.in/gsrvWJsJ

AI tools are often seen as a cost-cutting measure, because they can "replace" workers through automation, but as Ethan Mollick points out in his newsletter, this is probably the wrong way to think about it. LLMs can unlock significant growth and innovation, but there's limited discussion today about how exactly these models can be used to do that within specific industries. Major AI labs aren't really looking at the practical uses of AI, so many organizations end up dissatisfied with what they find. The answer to this is simple: give experts the ability to experiment with the tools to see what they can and can't do. If organizations make it a priority to do R&D with LLMs, then it's possible to create tools tailored to your organizational needs. There will be a cost, but it's significantly less than investing in a true R&D department, and can unlock massive gains, just as the steam engine did for the textile industry. Check out the full newsletter below. #ai #expertise #researchanddevelopment #organizationalstrategy #llms #automation

The Evolution of AI and Digital Transformation in Today's Business World The Beltug market study sheds light on the transformative power of AI and the strategic approach to digital transformation. As AI continues to mature, its application in businesses is becoming more pragmatic and value-driven. This aligns with my observation that AI isn't just a buzzword; it's a tool that, when used strategically, can redefine efficiency and innovation in businesses. On digital transformation, the study reveals that 44% of businesses have a dedicated strategy, while others adopt a more organic approach. In my view, having a strategic approach to digital transformation is essential. It's not just about adopting new technologies but about rethinking our entire business processes to stay relevant in a rapidly evolving digital landscape. The report quotes experts like Anne-Sophie Lotgering, Laurence Mathieu,Erwin Verstraelen, emphasizing the importance of integrating AI and digital transformation into core business strategies. I'm curious to hear your thoughts. Are you part of the 44% with a strategy, or do you prefer a more organic approach? Let's discuss the best practices and challenges in embracing these technological advancements.

Another great #ai article from Ethan Mollick. I have said it several times before, if you have any interest in AI and you are not reading Ethan's content, you have a large gap in your exposure. ➡ "Yet I worry that the lesson of the Industrial Revolution is being lost in AI implementations at companies. Many leaders seem to have adopted a view that the main purpose of technology is efficiency....Any efficiency gains must be turned into cost savings, even before anyone in the organization figures out what AI is good for." ➡ "Right now, nobody - from consultants to typical software vendors - has universal answers about how to use AI to unlock new opportunities in any particular industry." ➡ "Success is going to come from getting experts to use these systems and share what they learn. For companies, this means figuring out ways to incentivize and empower employees to discover latent sources of expertise and share them. There are tons of barriers to doing this in most companies - politics, legal issues (real or imagined), costs, etc. - but for organizations that succeed, the rewards will be large. " https://lnkd.in/eafkkJm4

As experts in AI with several years of experience, we are excited to share our six predictions for 2024 🎇 Our insights include the belief that companies who make the right AI choices will have a significant competitive advantage, and #GenAI will revolutionise the way leaders and employees work together. Additionally, we anticipate that the issue of trust in AI will come to a head, and GenAI will provide a crucial link to the world of data. Finally, we expect that GenAI will have a transformative impact on business, leading to the emergence of new services and products. If you want to be at the forefront of this exciting #AIrevolution, read our post on leading with trust and join us in shaping the future of your industry. #togetherwesolve #generativeAI #artificialintelligence

As experts in AI with several years of experience, we are excited to share our six predictions for 2024 🎇 Our insights include the belief that companies who make the right AI choices will have a significant competitive advantage, and #GenAI will revolutionise the way leaders and employees work together. Additionally, we anticipate that the issue of trust in AI will come to a head, and GenAI will provide a crucial link to the world of data. Finally, we expect that GenAI will have a transformative impact on business, leading to the emergence of new services and products. If you want to be at the forefront of this exciting #AIrevolution, read our post on leading with trust and join us in shaping the future of your industry. #togetherwesolve #generativeAI #artificialintelligence

Unleashing the Power of AI: A Strategic Roadmap for Business Transformation In today's rapidly evolving landscape, AI is no longer a futuristic concept—it's a critical driver of business value. Companies that fail to harness the power of AI, especially generative AI, risk being left behind. Your employees need to become AI literate and trained in how to safely use GenAI at work. To navigate this journey, use this strategic sequence for AI adoption on a lighthouse project from the portfolio of potential initiatives: 1. Define your AI ambition 2. Establish strong AI governance - Begin classifying your data today! 3. Prioritize high-value AI initiatives - Insert constraints for scope, time, budget. Be pragmatic as you begin. 4. Organize for success - Start with the end in mind, train your people to be fully AI capable and understand how to use artificial intelligence responsibly. 5. Start now and scale what works. Determine how you will measure success before you begin. Refine this process as you determine suitable KPIs. By taking a portfolio approach, investing in foundational enablers, and focusing on measurable outcomes, companies can unlock today's capabilities of AI across internal operations, customer engagement, product innovation, and business critical operations. With the right strategy and execution, AI can accelerate efficiency, drive innovation, and create a novel, unprecedented competitive advantage. Please share your successes and learnings and look for more recommended practices for safe and secure AI adoption from this channel. #AITransformation #lighthouseProjects

Title: Peak of Inflated Expectations: Early success stories could drive expectations to unrealistic levels. According to the Gartner hype Cycle 📈 , It's crucial to maintain a balanced perspective and not get swept up in the initial excitement, by Recognizing that technologies mature at different rates 🤔 . Since integrating our first AI application, we've experienced significant transformation, discovery, and challenges. As every project, we began with high expectations, eager to explore the new era of this technology.... but reality has proven sobering, impacting our daily tasks in unexpected ways. First, lets understand that, AI aims to simplify human interactions by tackling complexity. But, understanding and adapting to this technology remains elusive. It's not just about individual companies deciphering AI configurations 😵 ; it demands thorough, guided processes to navigate the vast landscape of tools from those who provide the services. "Like children needing tutors to understand complex topics, we require guidance to navigate this new world" 🤓. It's crucial to recognize that AI, while powerful, is not infallible. Its predictions can be disconcerting and challenging to interpret due to the complexities of its algorithms. Deciphering these mechanisms requires time and effort from all involved 👨🏫 🔎 . In essence, our journey with AI has began and is still ongoing. But, I consider there must a critical look on what’s happening with AI, while we're still adapting, knowing by hand it will improve soon, but recognizing that for now, it represents significant challenges alongside its potential 😅 .

If you're a CIO, you know just how important it is that you're caught up on tech trends. One trend that we've seen plenty of in the last year is generative AI. There's been so much hype around it, and that hype is for good reason. Generative AI can have a wide range of benefits for any modern business, but it has to be used strategically and intentionally. In this piece, Nicholas D. Evans shares 5 ways that CIOs can navigate generative AI’s hype cycle and get the most out of this technology: ⭐ Be realistic with customers, employees, and stakeholders. ⭐ Establish a corporate use policy. ⭐ Assess the business value for each use case. ⭐ Maintain rigorous testing standards. ⭐ Have a plan for when tech goes wrong. #CIO #GenerativeAI #AIIntegration

What do you think if I say that Generative AI is like a cognitive layer that is forming around the planet, profoundly transforming all global business? Let’s see why we believe is like that! But GenAI is more than just an instrument It holds a greater value and function. It actually gains more value as you combine them with a common data source. Why are we saying that GenAI is like a cognitive layer? Because it acts like a layer of intelligence or “brain” within the systems, enabling them to “think,” learn, and adapt, much like human cognition. Do you imagine all business systems intertwined? This will and can happen thanks to GenAI. Its cognitive layer is not isolated but is integrated with them. What does this mean? It means that Generative AI is becoming essential in various aspects of business operations, influencing decision-making processes, optimizing workflows, and potentially leading to more efficient and effective outcomes. GenAI helps to engage in real-time planning and logistics It's used to make immediate decisions and adjustments, optimize the allocation of resources, and manage the flow of goods, information, and other resources within a business. Tactical Adaptations is also a part where GenAI shines It is used for making on-the-spot, adaptive changes to tactics based on evolving circumstances or immediate needs. This adaptability is essential in a business environment where conditions can change rapidly, and resilience is often key to success. Want to delve deep? Here's the entire article. https://lnkd.in/dswVAaHt #AI #aiandbusiness