#2 - Innovation and GenAI

I recently attended a Gartner seminar, titled 7 Disruptions You May Not see Coming in 2023-2028. As you could guess, generative AI was one of those disruptions that figured among the 7 disruptions and taking the lead as the one with the largest order of magnitude of disruption (by the way, an order of magnitude is a factor of 10, hence when we say that an element is 1 order of magnitude larger than another element, we mean it's ten times larger, 2 orders means 100 times larger [10 to the power of 2], 3 orders means 1000 times larger, etc).

However, what was interesting is that it shared the lead with Engineering Innovation Pace. When both collides, we have an incredible opportunity to accelerate innovation with the help of Generative AI.

In this second edition of the Edges of Innovation newsletter, we look at actionable insights and items to unlock innovation and uncover new ideas with the power of generative AI. As usual, we are not looking at futuristic, maybe-maybe not, or cryptic ideas, but direct, down-to-earth, application insights to create your own accelerated growth.

Note: I'm writing this newsletter as I'm learning (therefore experimenting) how to best use them to get you the right actionable information, at the right pace. It may change format and rhythm in the coming weeks, to find the right ones, so in the meantime, don't hesitate to comment and provide feedback! An MVP is an MVP because of end-user feedback and that is you! Thank you in advance!

Transform Your Innovation Strategy with Generative AI 🌟

Innovation is one of those buzzwords that a lot talk about but only a few know how to tackle. It's now time to harness the power of #GenerativeAI to fuel your innovation engine. Here's a deeper dive into actionable steps you can take today, to help you put your innovation practice on overdrive.

1️⃣ Research at Warp Speed:

Forget the days of sifting through endless papers. Generative AI is now a research powerhouse, synthesizing key trends and themes in a fraction of the time. Imagine tackling complex issues ESG by feeding white papers into an AI that churns out concise summaries. Efficiency redefined!

What you can do:

• Compile your industry-related papers and reports.
• Use a generative AI tool to digest and summarize the content (multimodal ChatGPT is fantastic for that).
• Extract trends and actionable insights in minutes, not days.

🔍 Imagine cutting through the noise to find the signal—generative AI is your scalpel in the dense forest of data.

2️⃣ Rapid Prototyping Redefined

Move over traditional UX barriers! Generative AI is changing the game, allowing teams to imagine tech interfaces with plain language and conversational experiences. By focusing on business logic rather than UI details, we're seeing quicker, more intuitive prototype development. "List all the environmental risks the company needs to focus on," and the AI delivers. Then continue having a conversation to dig deeper and draft a logical business flow that will be much effective to translate into a pleasant UI. It's that simple.

What you can do:

• Identify a business problem that needs a creative solution.
• Engage with a generative AI to craft a conversational interface prototype.
• Iterate rapidly with AI suggestions, focusing on core functionality and business logic over form.

🛠️ Prototypes should be your sandbox. Play with ideas, let generative AI build the sand castles.

3️⃣ Efficient Testing with Real Feedback

Stakeholder feedback is gold, but collecting it used to be a marathon. Now, generative AI helps gather and analyze feedback rapidly, scaling up the quantity and reach of research through virtual town halls or focus groups, and delivering actionable insights swiftly.

What you can do:

• Deploy your prototype in a controlled environment.
• Use generative AI to facilitate virtual focus groups or town halls.
• Analyze feedback in real-time, refine your product, and repeat.

🔁 Feedback is your rhythm; let generative AI be the metronome for faster beats.

By integrating these steps, you're not just adopting a new technology; you're spearheading a movement. Generative AI isn't just a tool; it's a collaborator, a co-creator, and a catalyst for innovation.

The future is about making smarter and faster decisions, while more aligned with the rapidly changing market demands. Generative AI is your ally in this journey.

#InnovationLeadership #GenerativeAI #StrategicInnovation #DigitalTransformation #FutureOfWork

Source: Accelerating Innovation Through Generative AI

On-Premises Large Language Models (LLMs): When to Keep AI Close to Home 🏠

In the wake of Dell Technologies' collaboration with Meta to simplify on-premises deployment of LLMs, it's time to discuss why and when companies should consider hosting these AI powerhouses locally.

Why On-Premises?

• Control: Full command over your data, infrastructure, and AI models.
• Privacy: Enhanced data protection, crucial for sensitive sectors.
• Cost: Potentially lower if you have existing infrastructure that you can leverage.
• Latency: Reduced, for real-time applications like chatbots or live translations.
• Compliance: Easier adherence to strict data regulations.

When to Go On-Premises?

• Data Sensitivity: If your business handles sensitive information, local deployment can offer the security you need.
• Regulatory Compliance: For industries bound by stringent data protection laws, on-premises LLMs are often a must.
• Infrastructure Readiness: If you have the hardware, why not leverage it?
• Real-Time Needs: When milliseconds matter, proximity is power.
• Cost Control: Predictable budgeting without the variability of cloud services.

Actionable Insights:

1. Assess your current infrastructure capabilities.
2. Determine the sensitivity and regulatory requirements of your data.
3. Evaluate the real-time response needs of your applications.
4. Consider the long-term cost implications of on-prem vs. cloud.
5. Plan for scalability within the constraints of your local resources.

The collaboration between Dell and Meta is a game-changer, making GenAI more accessible and manageable. It's a call to action for businesses to strategically choose their AI deployment approach, balancing control, cost, and compliance.

#AI #DataPrivacy #Innovation #OnPremisesAI #LLM #TechLeadership

Unleashing Business Potential with Generative AI: Insights from MIT's Rama Ramakrishnan 🚀

In a recent MIT feature, Rama Ramakrishnan, a seasoned entrepreneur and MIT Sloan professor, sheds light on how businesses can leverage Generative AI to create unprecedented opportunities. Here's how your company can tap into this transformative tech:

1️⃣ Personalization at Scale: By meticulously tracking customer interactions, businesses can craft detailed customer profiles, enabling personalized experiences that drive loyalty and sales.

2️⃣ Efficient Content Creation: Generative AI can draft content, from marketing copy to product descriptions, saving time and resources. Human oversight ensures quality and relevance.

3️⃣ Software Development: LLMs can translate natural language into code, aiding developers. With robust testing, this can significantly speed up the development process.

4️⃣ Enterprise Search: LLMs offer a conversational search experience, making internal document navigation intuitive and efficient.

Actionable Steps for Business Leaders:

• Evaluate Your Data: Do you have rich customer interaction data? Use it to feed Generative AI for personalized experiences.
• Pilot Projects: Test Generative AI in content creation or software development, but treat it as an experiment, not just another IT project.
• Human in the Loop: Ensure there's always a human checking the AI's output, maintaining quality and accuracy.
• Conversational Interfaces: Implement LLMs for internal use to enhance document searchability and knowledge sharing.

Remember, Generative AI is a tool, not a replacement. It's about augmenting human capabilities, not diminishing them. As Ramakrishnan emphasizes, it's a remarkable time to harness AI's potential to make products smarter, employees more productive, and processes more efficient.

#GenerativeAI #BusinessInnovation #MIT #AIinBusiness #DigitalTransformation

I hope this second newsletter has spark some actionable ideas and insights. Please comment and throw me some ideas you want me to tackle about innovation, technology and enter/intrapreneurship, so together we can build the world of tomorrow for the greater good of humanity. Peace!