Beyond The Prompt - How to use AI in your company

What everybody’s missing about AI in business. Ethan Mollick (Wharton Professor)

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Apr 2, 2024

Wharton professor Ethan Mollick discusses how to harness AI's potential in business: treat AI conversationally, use it for multiple tasks, be prepared for exponential growth, leverage AI for entrepreneurship, and focus on culture for adoption. Highlights include managing crisis, trusting employees, and modeling serious use. The podcast also explores AI's influence on hiring, organizational culture, and global connectivity.

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ADVICE

Use AI Extensively

Use AI for everything you can, legally and ethically.
This is the only way to truly understand its capabilities and potential.

INSIGHT

Frontier Models

GPT-3.5 is like a high school sophomore, while GPT-4 is like a PhD student.
Use the most advanced models for personal use to truly grasp AI's power.

ANECDOTE

Secret AI Usage

CEOs often delegate AI exploration to committees, delaying implementation.
Meanwhile, employees secretly use AI, gaining an advantage but fearing disclosure.

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This is really an “do not miss episode”, as we are joined by Ethan Mollick, professor at Wharton and a leading voice on how artificial intelligence is transforming entrepreneurship and education. As an "accidental AI expert," Ethan shares his unique perspective on the AI revolution and provides practical insights for harnessing its potential in business and beyond. Ethan is really an incredible communicator and is one of the leading voices in how to use AI.

Key Takeaways:

1. Treat AI like a person: To get the best results, engage with AI conversationally and work with it like an editor.
2. Use AI for everything you can: The only way to truly understand AI's capabilities is to use it for as many tasks as possible.
3. Be prepared for exponential growth: AI's capabilities are rapidly expanding, so be ready for significant advancements in the near future.
4. AI is a superpower for entrepreneurship: Entrepreneurs can leverage AI to generate ideas, validate concepts, and accelerate experimentation.
5. Culture matters for AI adoption: Mission-driven organizations and startups have an advantage in deploying AI due to their willingness to share and collaborate.

Notable Quotes:

- "If you haven't had a crisis yet, then you haven't used it enough. And I think that there will be this coverage because the truth is out of the box, it's a huge performance improvement."

- "I think modeling serious use is the way you do this. Trusting your employees to some extent is a way that you do this too."

- "This is the accelerator that we always needed to make this happen. And entrepreneurs should be embracing this 1 billion percent."

Resources Mentioned:

- Ethan Mollick's book on A is called Co-Intelligence LIVING AND WORKING WITH AI

- Henrik’s new startup that helps you build a startup from scratch via AI: Audos.com
You should follow Ethan on Twitter/X

📜 Read the transcript for this episode: Transcript of What everybody’s missing about AI in business. Ethan Mollick (Wharton Professor) |

Thanks for listening to this episode of Beyond The Prompt! If you enjoyed the conversation, please share it with a friend and subscribe to the podcast on your favorite platform.

For more prompts, tips, and AI tools. Check out our website: https://www.beyondtheprompt.ai/ or follow Jeremy or Henrik on Linkedin:

Henrik: https://www.linkedin.com/in/werdelin
Jeremy: https://www.linkedin.com/in/jeremyutley

Show edited by Emma Cecilie Jensen.