Why do some companies succeed with AI and others don’t?
In week one we dove into success factors and ways of working. Here are some key Insights from the AI Strategy Course, I’m taking at Wharton Online;
⦿ Google’s AI-First Transformation
We explored Google’s transformation into an AI-first company, diving into the strategies and tactics behind their success.
⦿ AI as both opportunity and risk
Insights from Boston Consulting Group (BCG) revealed that business leaders see AI as both an opportunity and a risk.
90% of companies view AI as a business opportunity.
However, 45% perceive AI as posing some risk, particularly from competitors. Most companies dread startups, and new entrants without a tech legacy can leverage AI faster than established brands with slower turnaround times, creating potential competitive threats from new directions.
⦿ Challenges in early AI applications
The course highlighted that early adoption of AI doesn’t always yield immediate results, but key principles can differentiate companies that thrive with AI from those that struggle. (for example, if you fail once, don’t give up. )
⦿ A balanced approach to AI projects
Successful AI strategies involve developing a portfolio of projects that balance quick wins with long-term initiatives. This ensures early momentum while laying the groundwork for sustained success in the long term.
⦿ Reducing risks with internal projects first
Implementing AI in internal employee touchpoints can lower risks and build trust in AI’s potential. Quick-win examples help reduce scepticism and showcase business value and possibility.
Google’s approach to skills distribution was particularly clever. They focus on lowering barriers to entry, empowering teams through mentorship and encouraging employees to work on machine learning projects by creating space for them.
The course is off to a fascinating yet challenging start. 🤓