HBR IdeaCast Why AI Isn’t Enough To Beat The Competition
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Oct 8, 2024 Jay Barney, a professor at the University of Utah's Eccles School of Business and co-author of "AI Won't Give You a New Sustainable Advantage," discusses the limitations of AI in creating lasting competitive edges. He emphasizes that merely adopting AI isn't enough; businesses must integrate it with their unique strengths. The conversation highlights how generative AI can enhance efficiency, especially for smaller firms, while stressing the need for a culture of innovation and adaptability to sustain advantages in a rapidly evolving tech landscape.
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GenAI and First-Mover Advantage
- Early adoption of widely available tech like GenAI won't guarantee long-term competitive advantage.
- Widespread availability negates any unique benefit for first movers.
Limitations of Proprietary Models and Data
- Building proprietary GenAI models or datasets might seem like a solution.
- However, competitors can replicate these, negating sustained advantage.
Data Size vs. Value
- Having a larger dataset doesn't automatically guarantee an advantage.
- The key is whether the patterns you seek are revealed with a smaller, functionally equivalent dataset.