Unlocking A.I. Success — Insights from Leading Companies on Leveraging Artificial Intelligence Artificial intelligence is here to stay. Here's how to learn all you can to move your business forward with artificial intelligence.
By Ray Titus Edited by Carl Stoffers
Key Takeaways
- Companies must not leave AI adoption solely to data scientists and IT staff.
- Business leaders should educate themselves about AI technologies to make informed decisions and rally their teams.
- Leaders need to cultivate a habit of inquiry, asking detailed questions to uncover deeper insights and drive smarter decision-making.
Opinions expressed by Entrepreneur contributors are their own.
Artificial intelligence is becoming as essential to business success as the internet and smartphones. But if you're hesitating to adopt it for your company because you don't understand it, you'll feel much more confident after reading All In on AI: How Smart Companies Win Big with Artificial Intelligence by Thomas H. Davenport and Nitin Mittal.
The authors simplify and clarify A.I. by presenting major companies that are "A.I. fueled," explaining how they use the technology to create value and what it takes to be "all in." But, you have to take an active role in understanding this technology; asking questions — the right questions — is the secret to grasping A.I. and many other business issues.
Leaders power the "A.I. Fueled" drive
Davenport and Mittal found about 30 large companies that are "A.I.-fueled," meaning they use the technology to power their entire organization. Organizations seeking to be A.I.-fueled must not leave implementation solely in the hands of their data scientists and IT staff. They must learn all they can about it in order to decide which technologies will work for their business and get their teams on board.
We were early adopters of A.I. in our corporate office at United Franchise Group. Most of our franchisees are still doing business the way they always have, so we're working to change their mindset. We're introducing A.I. apps and showing franchises how they can use them to make their business better.
It's people, not technology, that powers A.I., Davenport and Mittal found. I couldn't agree more. A.I. can do some incredible things at lightning speed, but like any other business tool, it can't do anything without people driving it. With all its power to transform, A.I. needs to be managed by people who can think creatively and drive innovation — who don't just accept change but embrace it.
Questions are the answer
A.I. has been transformative for our organization. It's made everyone better at their current jobs, helps us do more with less and gives us new ways of tackling the big-picture items. The biggest benefit has been the ability to pull out information to help us make sound, data-driven decisions.
But like Davenport and Mittal, I find that asking questions is a critical strategy in A.I. Leaders must ask strategic questions about how A.I. can fuel their business processes. They must explore ways that A.I. can be used to improve things like business processes, product innovation and profitability.
At our company, we've learned to ask the right questions to get the information we need. It's like peeling an onion — each question leads to another that takes you deeper into the issue. Questions are the key. The more questions you ask, the smarter this thing gets.
I really don't think enough people understand this or know how to ask questions in a way that gets answers, which is why I decided to write The Power of Questions.
Always ask at least three questions, which is the minimum for starting to learn what you need to know and to get better answers. Keep drilling down — peeling the onion — until you get to the heart of the matter. One question that will usually get you there is "Why?"
Be careful not to fire them at the other person like you're conducting an interrogation. Ask each question and listen — really listen — to the answer. Be alert for follow-up questions. Don't be afraid to take a moment to digest what you've heard. If you've asked the right questions, you'll have a lot to think about.
A.I. will not replace us
It's natural for people to approach this technology with some fear and uncertainty if they don't understand it. Often, their greatest fear is that they will be replaced by A.I. machines. We must alleviate this concern by demonstrating how A.I. can help us, not hurt us.
If you're contemplating a move to A.I. — and you can no longer afford not to — All In on AI should be the first step in mapping out your path. And I hope The Power of Questions will help you to dig a little deeper into what it can do for your particular business.
