But like any other innovative technology
Posted: Mon Dec 23, 2024 9:01 am
Over the past couple of years, companies around the world have become increasingly excited about the ability of generative AI to increase company value by transforming the way they organize and implement work processes.
Content
Time to act
The more actions, the better the result
The Need for an Innovative Operating Model
What's the bottom line?
Technologies such as self-writing and self-learning code, large language models, etc., open up new technological horizons for companies.
, generative AI is not a panacea. Most organizations find it difficult to reap the benefits phone number in turkey of their digital investments, and implementing generative AI may not make much of a difference unless leaders prepare their organizations for it in advance.
In addition, the implementation of the technology may be associated with a number of risks. For example, the use of public tools based on generative AI may lead to the leakage of intellectual property and other confidential data into the public domain.
However, generative AI undoubtedly brings many benefits and advantages to business. In 2023, experts from McKinsey & Co conducted a large-scale study on the implementation of digital strategy in more than 1,000 companies.
In their study, they found a striking correlation between companies' ability to increase cost through advanced digital technologies and the adoption of a digitally-focused corporate culture and operating model.
But how exactly did they do it? In this article, we’ll look at five actions that leading innovators are taking to strategically differentiate themselves from their peers and outperform them in their use of generative AI. And how these factors help create business value.
Time to act
Leading innovators aren’t just talking about implementing generative AI into their business processes; they’re actually doing something about it. Among companies surveyed by McKinsey & Co, 30% said they were already implementing generative AI across their innovation and research departments at a rate six times faster than innovation laggards. In 2022, that gap was nearly half that.
Why should you care? The widening gap is significant because companies increasingly see innovative technologies as a key driver of growth and resilience in challenging economic times. Those that can harness generative AI’s ability to process information quickly and produce detailed results are likely to gain a significant competitive advantage.
In addition, a corporate culture with an innovation focus allows companies to gain the resources to succeed and focus on implementing new, bigger ideas that differentiate the business. Innovative companies also scale up faster. They also attract new resources through external relationships and by motivating and rewarding their employees for innovative ideas.
Content
Time to act
The more actions, the better the result
The Need for an Innovative Operating Model
What's the bottom line?
Technologies such as self-writing and self-learning code, large language models, etc., open up new technological horizons for companies.
, generative AI is not a panacea. Most organizations find it difficult to reap the benefits phone number in turkey of their digital investments, and implementing generative AI may not make much of a difference unless leaders prepare their organizations for it in advance.
In addition, the implementation of the technology may be associated with a number of risks. For example, the use of public tools based on generative AI may lead to the leakage of intellectual property and other confidential data into the public domain.
However, generative AI undoubtedly brings many benefits and advantages to business. In 2023, experts from McKinsey & Co conducted a large-scale study on the implementation of digital strategy in more than 1,000 companies.
In their study, they found a striking correlation between companies' ability to increase cost through advanced digital technologies and the adoption of a digitally-focused corporate culture and operating model.
But how exactly did they do it? In this article, we’ll look at five actions that leading innovators are taking to strategically differentiate themselves from their peers and outperform them in their use of generative AI. And how these factors help create business value.
Time to act
Leading innovators aren’t just talking about implementing generative AI into their business processes; they’re actually doing something about it. Among companies surveyed by McKinsey & Co, 30% said they were already implementing generative AI across their innovation and research departments at a rate six times faster than innovation laggards. In 2022, that gap was nearly half that.
Why should you care? The widening gap is significant because companies increasingly see innovative technologies as a key driver of growth and resilience in challenging economic times. Those that can harness generative AI’s ability to process information quickly and produce detailed results are likely to gain a significant competitive advantage.
In addition, a corporate culture with an innovation focus allows companies to gain the resources to succeed and focus on implementing new, bigger ideas that differentiate the business. Innovative companies also scale up faster. They also attract new resources through external relationships and by motivating and rewarding their employees for innovative ideas.