Turn Generative AI from an Existential Threat into a Competitive Advantage
The article from Harvard Business Review, Turn Generative AI from an Existential Threat into a Competitive Advantage, explores the transformative potential of generative AI and how businesses can shift from viewing it as an existential threat to leveraging it as a competitive advantage. By dissecting the implementation of generative AI into three levels, the authors provide insights into adopting publicly available tools, customizing them for a personalized user experience, and establishing automatic data feedback loops for continuous improvement. The piece emphasizes the evolving nature of business strategies in the face of generative AI, urging companies to not only adapt but also find innovative ways to add value to their offerings in this rapidly changing landscape.
It suggests three levels of implementation for leveraging generative AI:
Adopt publicly available tools (Level 1): Companies can use off-the-shelf generative AI tools to enhance internal processes, communication, and various tasks. This is seen as a crucial step for survival in the evolving business landscape.
Generative AI Tools:
OpenAI GPT-3: Powerful language generation model for various applications.
IBM Watson: AI platform offering multiple services for businesses.
Communication:
Slack: Enhance team communication and collaboration.
Microsoft Teams: Integrated platform for workplace communication.
Customize the tools (Level 2): Businesses can create their own generative AI tools, incorporating internal data for a more personalized customer experience. Customization aims to make products easier to interact with and offer new capabilities, such as personalized recommendations.
AI Development Platforms:
TensorFlow: Open-source machine learning framework.
PyTorch: Deep learning framework for building customized AI models.
Customer Experience:
Salesforce Einstein: AI capabilities integrated into CRM for personalized customer interactions.
Adobe Sensei: AI and machine learning in Adobe's creative tools for personalized content.
Create automatic and continuous data feedback loops (Level 3): The highest level involves establishing feedback loops where generative AI tools automatically improve based on customer interactions. This creates a compounding competitive advantage, as the tool continuously enhances itself with minimal human intervention.
Data Feedback Platforms:
Google Cloud AI Platform: Allows deploying, managing, and scaling machine learning models.
Amazon SageMaker: Build, train, and deploy machine learning models with AWS.
Customer Interaction Feedback:
Zendesk: Customer support platform with AI capabilities for feedback analysis.
Intercom: Customer messaging platform with AI-driven insights.
The key message is the importance of adaptation and innovation in the face of generative AI to stay relevant and add value in the rapidly changing business landscape. These applications cater to the progressive levels of implementing generative AI, from adopting existing tools to customizing and creating continuous feedback loops for sustained improvement.