ChatGPT, its GPT-4 iteration and the broader advancement of generative AI are raising the stakes for companies that are expected to incorporate this technology. CEOs, boards and top executives in such a spot should step back and meet the challenge with a big picture approach that systematizes a set of proven strategies.
AI as the next competitive weapon for business relevancy, and profitability means companies must transform from digital enterprises to intelligent enterprises. The latter successfully integrates AI, machine learning, data analytics and the Internet of Things (IoT) to drive innovation, optimize processes and create new revenue streams.
Begin by adopting an “AI first” mindset. Adapt your organizational structure to the reality that “intelligence” increasingly resides in many parts of the company. It further means nurturing and investing in talent accordingly and being cognizant of the regulatory and compliance pressures.
