From the course: Where to Start with AI and Business Strategy with Chris McKay
How do you integrate AI within existing business strategy?
From the course: Where to Start with AI and Business Strategy with Chris McKay
How do you integrate AI within existing business strategy?
- Something that you are clearly passionate about is making sure that we don't use technology for technology sakes, but we really align on the business goals. So let's talk a little bit about this. What are the best practices for integrating AI initiatives within an organization's existing strategic planning processes? - Sure, you're right, I love tackling this problem, because I think it's so easy to get distracted by the shiny object syndrome. A new model comes out or a new technology, and we immediately flock towards trying to adopt it. We get into this idea that we see a demo that looks amazing on stage, but when you apply it within your organization, the sad reality is that it isn't as what was promised. And I think leaders have to be very careful today that they're not just chasing technology, especially AI, because it's cool. And I'll leave a caveat here, because I do think there is a marketing side to saying you have AI integrated into your product or your process. So I get that from a marketing standpoint, that can be important for you to communicate to your audiences that maybe an update is a step level above what it was before. And so there is this awareness that the population is also being educated on AI, and they're expecting you to have these services into your products. But I would warn about over promising with your products with AI. But when it comes to focusing on planning and strategy, how are you aligning your initiatives to ensure that you're actually meeting your business goals? Because here's the thing, there are so many times when companies have come to us, and they're like, hey, we need a new website. And once we started asking the questions, they realized that they didn't need a new website, they needed a better communication strategy or better marketing. And so taking the time to step back and say, okay, what are we trying to achieve as a business? How will this technology allow us to do that? Because at the end of the day, you have stakeholders that you need to answer to. If you're not solving the problems of your users with AI, they don't care if you're, and your users don't care about the technology stat that you're using, the model you're using, they only care about their problems and whether or not you're helping them to solve that problem. And so being very careful not to get lost in vanity metrics that I'll talk about later on, and focusing on, okay, what are we trying to do as a business and which technology is going to help us to get to that end point is going to be important. And so I think taking the time to ensure that you're not wasting resources, you're not creating confusion, oftentimes you'll end up having the cycle of trying so many things. And sure, you do want to have an experimental mindset, but you don't want to have your team so distracted and split that you are not making progress or moving forward. And the only metric of progress that you want to be excited about are the ones that align with your business objectives. It is fine to be like, hey, we have the latest modeling included, but if it's not pushing your business forward, then I think it's a no go.