Few leaders would dispute the fact that business today is driven by data and smart algorithms. Yet, rather than real digital transformation, many instead pursue digital incrementalism, using automation to cut costs or, worse — cut jobs. Doing so might buy you some time from impatient shareholders, but it will be short-lived unless you can face the challenge: How do you reimagine what you do for a new era of AI-powered competition?
AI Should Change What You Do — Not Just How You Do It
We are just at the beginning of a new era of AI-powered competition, and the playbooks for organizations and leaders are far from clear. One thing is sure: the successful firms of the future will be those that can leverage data, algorithms, and human talent to both sidestep industry boundaries and creatively meet customer needs. For leaders of more established firms, this is no time for timid moves. Expect a widening gap between customer-centric organizations with a deep commitment to evolving their technology platform and those whose blind pursuit of operating efficiency leaves them defenseless against a more uncertain future. In the end, our best chance at reinvention is to answer a deceptively simple question: What is possible now in an age of smart machines that was not even conceivable before?