In today’s crazed AI / Generative AI world, why are business leaders so slow to adopt AI and embrace innovation, continuous improvement and the clear benefits afforded?
My name is Brett Patterson and I am VP of Sales for F33.ai, an AI service company which helps companies build AI expertise in house for a competitive advantage. I am sharing my experiences sitting down with both C level and director level leaders on both sides, technology and business sides of different companies. AI choices are overwhelming business and technology leaders and the decision how, when and with which “AI expert” company to adopt is not easy.
Here are a few observations from meeting with mid and large enterprise companies in both US and Latam markets.
Yes, media is flooded with the latest news on AI and Generative AI. It’s everywhere and it’s overwhelming! You cannot escape AI, comply or be left behind. Scary to the point of decision paralysis! What to do…
There is so much hype and information around AI that business leaders are having difficulty deciding on why, how, when to adopt AI for their businesses. It’s overwhelming!
In addition to these challenging questions, there is the internal communication challenge inherent in most companies between technology leaders dn business leaders. The technology leaders speak one language of leveraging tech and innovation for greater efficiencies to achieve a stated outcome. The business leaders speak the language of addressing business challenges with clear, tangible ROI to do this. Has a CEO or owner ever said “I’m not paying for another shiny toy for engineers to play with”? The communication gap between technology and business leaders also contributes to slow adoption of a new, hyped AI solution. When consulting Technology leaders seeking AI adoption, I propose that they present a specific AI solution:
| that addresses a high priority business challenge food the company
| that has clear, tangible ROI that business leaders will understand
| formatted in a data driven report showing clear outcome and impact on business
Not all companies have the same culture of innovation and technology adoption. Certain industries demand continuous improvement and require innovation adoption (retail, manufacturing and supply chain) in order to stay competitive. It’s part of their culture, their DNA in order to stay on top of their industry. Other companies have a more conservative approach to innovation adoption and will most certainly be laggards in adopting advanced technology. So, company culture of innovation and continuous improvement plays a significant role in adopting AI… or Not. Where does your company culture stand? Be Bold!
In conclusion, the challenges for business leaders adopting new technology, AI, are real and can feel overwhelming. You can see the leaders at the top of each industry aggressively adopting AI and Generative AI in order to maintain their stronghold at number one and maintain market dominance. They have the financial resources and the willpower (Culture) to be aggressive in adopting new ideas/technologies in order to maintain their positions as market leader.
For everyone else I recommend the following in order to adopt new AI technology and grow your business – be competitive and improve your market share.
First, create a plan to navigate the AI journey. Find a reliable partner, AI consultant, to help you put a plan together for leveraging AI to address critical business challenges. Learn how to get started. Sounds easy, it’s not.
Next, find a common language, communication between tech and Business leaders to work together and address business challenges in a joint effort so that owners can make an informed decision when investing in AI.
Finally, Be Bold! You must have a mindset, a culture of innovation adoption to truly be competitive and leverage the latest technologies to advance your business. You can’t score if you don’t shoot!
My name is Brett Patterson and I am happy to discuss how you can build your own in-house AI expertise in order to gain a competitive advantage in your industry. You can find me here: bpatterson@fourteen33.com
