Dansk
The AI wave is rolling in. But as a business, it's wise to consider what you really want before throwing money at an AI solution.
The CEO of OpenAI has compared the importance of artificial intelligence (AI) to the invention of the atomic bomb. Others draw parallels to the development of the iPhone or the creation of the internet.
The dear child has already been given many names: ChatGBT, AI, Toss, GAN - the list is probably longer.
One thing most people can agree on. AI will change a lot. The writer, the designer, the lawyer and the job seeker will be "prompted" more and more in the near future. In fact, it will probably affect all of us.
This same analysis thrives in many of the companies and networks I join. Several AI course providers are fully booked in an hour. And the ideas of what AI could be used for are many and visionary when I talk to business leaders around the country.
If things go as they often do, reality will show that artificial intelligence is not a magic bullet either.
Alongside the fascination, I also sense a fear among many of being late to the AI party. We need to get on the bandwagon, I hear.
But at the same time, few people really know what AI is and how it works. And ideas about how AI can be used are often based on very limited or no experience.
This combination of lack of knowledge and experience provides a wealth of opportunities for skilled salespeople, smart consultancies and forward-thinking IT managers. They may be right in their predictions and enticing perspectives, but I'd venture to say that many of them don't have the tech overview, in-depth understanding or business potential of artificial intelligence clearly on the drawing board either.
The truth is that very few companies have actually tried using AI tools in earnest. Almost all are in uncharted waters. And if things go as they often do, reality will show that AI is not a magic bullet either.
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At the same time, AI needs to be seen in the context of other megatrends impacting the business. For example, future recruitment needs, customer expectations, regulatory frameworks, retention opportunities, salary development or the company's production location.
As a business leader, you need to remember your healthy skepticism and strategic compass.
Artificial intelligence is likely to be a game-changer, but if it's not incorporated into your existing strategy and goals, it can be difficult for most companies to get started and build a business based on or with AI.
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For example, it's wise to consider what you really want to achieve. Do you want to save resources, improve quality, increase customer satisfaction - or something else entirely?
Many will probably find that artificial intelligence delivers something different than they thought. It doesn't have to be a big problem. The inventor of Champagne - the monk Dom Pérignon - allegedly tried to avoid bubbles in his wine, but inadvertently ended up creating even more. Many of us are grateful to him for that mistake.
That way, if you stumble upon an unexpected golden egg, you can just pick it up. However, for most organizations and businesses, resources for developing and implementing new technological solutions are so limited that they need to be prioritized - on an informed basis.
Artificial intelligence is undoubtedly part of the future, but if you're struggling to identify a problem that AI can immediately solve in your business, it might be worth considering inventing one.
This column was published in Jyllandsposten Finance September 20, 2023 and in Jyllands Posten Erhverv.
It really took off with MakeMyStrategy - I highly recommend taking the system in.
Kjeld Bagger
Owner and Director
AVS Denmark ApS