Does AI Help or Hurt Your Company's Strategic Planning?
At Second Mountain, we've seen firsthand how AI can streamline decision-making processes and reveal blind spots in strategic planning. However, our experience also shows that while AI excels in offering fresh perspectives, it struggles with nuanced, company-specific insights. So where can AI add value to strategic planning?
1) Divergent Thinking: Generative AI can be used to scan large volumes of industry data and surface external factors and trends that leadership teams might overlook or not have sufficient time and resources to analyze. This can expand the scope of strategic discussions and ground decisions in a more robust fact base.
2) Scenario Analysis: While AI can’t predict future demand or financial performance, it can be highly effective in helping leaders explore a larger number of scenarios, identifying critical uncertainties, potential risks and opportunities. In an increasingly volatile and unpredictable climate, considering a more diverse set of scenarios and deepening the analysis of potential impacts can give businesses a significant competitive advantage.
3) Idea Generation: AI can be used to generate a large number of new ideas quickly. This process can effectively be combined with human input to filter ideas and critically assess their fit with the business before undertaking deeper analysis.
Read more on this topic here: How CEOs Are Using Gen AI for Strategic Planning (hbr.org)
Experienced in Digital Marketing and CRM as a Business Strategy, interest in Blockchain Technology
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