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Shaping the Future: Future-Thinking, Strategy and Innovation!

CEO’s Guide to Maximizing Value Potential from AI in 2024! I. The time to act on AI is now 1. The maturity of AI brought us to an exciting moment, where Generative AI is complementing Predictive AI, and going well beyond the hype in delivering superior value for organizations  2. AI mature companies (~10%) are also the first to scale GenAI, further widening the gap vs. peers AI technology is also evolving rapidly, from mature value sources ready to scale at the present time to exciting innovations on the horizon  3. Companies are embarking on AI transformation journeys; setting ambitious targets both in top line and bottom line II. Strategic Plays 1. Deploy Utilizes off-the-shelf tools to boost workforce productivity by 10-15%, improve employee satisfaction, and generate excitement for broader AI change in the organization 2. Reshape Allows for re-imagination of functions through workflow re-engineering, to drive 30-50% improvements in efficiency, effectiveness across affected functions 3. Invent Leverages AI to expand revenue streams and "invent before getting disrupted" by introducing new offers, services, and experiences to the market III. Executing Successfully 1. To successfully deploy AI at scale and convert it into business impact, organizations need strong foundational capabilities (e.g., talent, technological infrastructure, etc.) and a 10-20-70 approach in terms of level of emphasis anchoring on algorithms (10%), tech & data (20%), and people & processes (70%) 2. Long-term competitive advantage will come from data, talent, and culture; the time to act is now, otherwise, organizations risk being left behind Check out the Executive Perspective by Boston Consulting Group (BCG) here: https://lnkd.in/dnU6cCfH #innovation #ai #genai #strategy #tech #talent

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Ramesh P

Director of Sales at Artha Solutions

4mo

Your post on maximizing value potential from AI in 2024 is truly insightful, Frank Kumli. The emphasis on deploying, reshaping, and inventing through AI transformation journeys resonates deeply with the need for organizations to evolve strategically. Your strategic plays highlight the crucial balance required in leveraging AI for long-term success, emphasizing the importance of talent, data, and culture in driving innovation and competitive advantage. Thank you for sharing this valuable perspective.

Maik Lange

AI Transformation Lead & New Technology Enthusiast at Healthcare Bayer AG

4mo

To successfully implement generative AI🤖 , it is essential to adopt a mindset that promotes sharing knowledge across silos and transcending ego-driven thinking. Leadership must have the courage to invest in AI with a long-term perspective, recognizing it not just as a quick win or tactical investment, but as a transformative force that will revolutionize the entire business from top to bottom.

Stephen Crook

International Investment Banker / Thinkers 360 Top 25 Global M&A, Top 50 Global Project Management, & Top 100 North American Thought Leader & Influencer / Trusted Client Advisor / Angel Investor / Futurist

4mo

Love this something every CEO needs to know

Stan Kruss

Exhibit Stands Proven to Win Customers. | CEO at Expo Centric | I built Australia's leading exhibition stand company from 15 years of industry excellence. | Immerse your customers with experiential trade shows.

4mo

AI is set to revolutionise organisations in 2024 by enhancing efficiency, personalising customer experiences, and enabling data-driven decision-making. Leaders must focus on integrating AI into their operations strategically, ensuring it complements human capabilities and aligns with business goals.

Sammar Farooqi

Head of Strategy, Cloud Innovation & Business Development at SAP

4mo

The emphasis on 10-20-70 is great. It's a crucial reminder that while algorithms and tech are foundational, the real impact comes from investing in talent and processes. Building a culture that embraces AI is pivotal for long-term success.

Rodrigo Contrera

Founder, CEO & Editor in Chief (+Prompt Designer): SejaDigitalAgora (BeDigitalNow) - Passionate about the future - PcD

4mo

Thanks for sharing

Siddhartha Pal

Growth Initiatives; ESG Reporting; Climate Finance; Value Creation; Sustainability Assurance & Advisory; Corporate Finance; CXO & Board of Directors Support; Business Partnering; Turnaround

4mo

Thanks for sharing

Altan Atabarut, MSc.

Enthusiastic about AI/ML driven innovation and digital transformation

4mo
André Tozello

Desenvolvendo tecnologias disruptivas em radiação não ionizante. Deep Tech Agritech e Health Tech Negócios B2B B2G | CEO da M2D1 Fala sobre #startup, #inovação, #iso56000 #facilities, #desinfecção #uvc

4mo
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