Thinkers & Ideas
Competing in the Age of AI with Karim Lakhani
Mar 12, 2020
In this engaging discussion, Karim Lakhani, a Professor at Harvard Business School and co-author of 'Competing in the Age of AI,' shares his insights on how AI is revolutionizing competition and business models. He explores the divide between traditional and AI-first companies and the challenges in adapting to this new landscape. Lakhani emphasizes the importance of innovative operating models and the need for future leaders to blend traditional skills with tech mastery. He also draws lessons from Nokia and Apple's struggles with disruptive technologies.
22:23
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Quick takeaways
- AI-first companies redefine competition by relying on specialized algorithms, necessitating traditional firms to adapt their business models and strategies.
- To stay relevant, incumbent businesses must embrace holistic transformations that include fostering a culture of continuous learning and rethinking organizational structures.
Deep dives
The Shift to AI-First Competition
AI-first companies operate under a distinct competitive framework that emphasizes specialized algorithms known as weak AI. Unlike the concept of strong AI, which symbolizes a universal problem-solving computer, weak AI is designed for specific tasks and can significantly impact business models. These companies leverage their algorithms to change how they create and capture value, highlighting a shift in operational models and learning systems. As a result, traditional businesses are encouraged to re-evaluate their strategies to integrate AI capabilities effectively and remain competitive in a rapidly evolving landscape.
