Competition Will Fuel AI Transformation

Episode Summary

In this episode, Ted Shelton and Markus Zirn discuss insights into how businesses can leverage automation and AI to improve processes. They delve into real-world applications, use cases, and challenges in implementing these technologies. Ted explains the necessity of adopting a growth mindset to fully embrace and make the most of AI and automation tools. Ted shares his top 5 strategies for how businesses can foster the acceptance and appropriate use of these new technologies among employees.

Timestamps:

*(00:00) Episode Start

*(03:26) How AI and Automation are connected

*(08:00) The new era of disruption and AI transformations

*(13:46) Early applications and use cases in operationalizing AI and automation

*(20:02) What Generative AI can impact when it comes to customer experience

*(28:28) Revolutionizing customer interactions with AI's declarative process shift

*(31:28) Challenges in adopting AI and breaking old mindsets

*(36:01) Democratizing AI and low-code philosophy

*(38:10) Ted's 5 pieces of advice for adopting AI

*(41:08) Today's Takeaway

*(42:40) Technological transformations and its impact on the workplace

Episode Key Takeaways

• AI and automation are interconnected: As you begin to adopt AI into your business, understanding the intrinsic link with automation is paramount. Automation organizes data for AI models and applies those insights to your processes.

• The real driver of AI-driven transformation is your competition: the ease of access to AI now means competitors have access to the same technology - which is driving a new type of urgency with executive teams.

• The winners and losers in AI will be decided in three domains. How quickly and successfully companies can harness AI to improve efficiency, experiences, and innovation will decide whether they come out ahead or fall behind in this new era.

• Generative AI will make companies more proactive with their customers: Cost economics of interacting with customers and proactive customer support are changing, which will ultimately create more value for customers.

• The process mindset is key in the AI era: Integrating AI into business processes is key, and keeping a process mindset (systems thinking) is even more important. Although interactions with AI mimic human interactions, there must be a practical approach for effective deployment and utilization, mirroring how we collaborate with human colleagues.

• ‘Dynamic and disposable code’ is the future: Ted highlights the emerging concept of ‘dynamic and disposable code’, which breaks away from traditional coding methods. It relies on machines generating code in real-time based on described outcomes, revolutionizing the way humans and machines work together.