Ep 170: AI Business Strategy – Are you ready for 2024?

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Staying Ahead: AI Business Strategy for 2024

In the fast-paced world of business, staying ahead of the curve is crucial for sustained success. The rapidly evolving landscape of artificial intelligence (AI) presents both challenges and opportunities for businesses, demanding a strategic approach to leverage its potential effectively. In today's episode of Everyday AI, vital insights were shared on how business leaders and decision-makers can prepare for the AI landscape in 2024. Here, we delve into the key takeaways from the discussion.

Adapting to the Evolving AI Landscape

One of the key takeaways from the podcast episode was the emphasis on fostering trust and transparency in the integration of AI within higher education. It is paramount for colleges and universities to prioritize building and maintaining public trust, especially amidst rising concerns about tuition costs and the need for job preparation. Responsible AI practices, clear policies, and meaningful engagement with students can serve as foundations for establishing trust within academic communities.

Revolutionizing Customer Engagement with Avatar Technology

The episode highlighted the pressing need for businesses to stay current with AI technology, emphasizing that the industry is evolving at an unprecedented rate. From fresh graduates to seasoned CEOs, everyone is confronted with the challenge of keeping up with the rapid changes and the abundance of new tools and technologies in the AI space. Reacting to this, the traditional approach to implementing new technology, such as the slow request for proposal (RFP) process, is no longer effective. Instead, a more agile and constant evaluation approach, deploying fast and hard use cases to assess the value of AI technology, is recommended.

Navigating the Challenges of AI Implementation

The conversation underscored the difficulty for businesses to navigate the implementation of new technologies amidst the constant changes and innovations in the AI space. The importance of understanding AI and its various forms, as well as the human element in utilizing AI within an organization, was emphasized. Furthermore, the discussion shed light on the concern that companies realizing the need for an AI strategy may be late in their approach for 2024. Thus, the need for better conversations with vendors to ensure they are up to speed and not building their own large language models was accentuated.

Empowering Small Businesses through AI

A notable point of discussion was the impact of generative AI as a leveller for small businesses in tech implementation, making tools available at a small cost. It was emphasized that smaller organizations have agility and accessibility in utilizing AI, compared to larger companies that are slow to change. However, the hidden dangers of generative AI creating potential obstacles for CEOs and high-level decision-makers were also highlighted, emphasizing the need for careful consideration and cautious implementation.

Preparing Teams for the AI Revolution

The episode stressed the importance of preparing teams and leaders for the new year, emphasizing effective communication and processes. Advice for business leaders included getting involved, understanding AI's impact on jobs, business operations, client interactions, products, and services, as well as doing the necessary homework to effectively steer the ship through challenges. It was also highlighted that teams must be well-versed in AI language for both internal and external communication to ensure effective AI integration within the organization.

The Road to Effective AI Adoption

The episode emphasized the significance of identifying pain points, exploring potential opportunities, and then seeking AI tools that align with specific needs. It was advised to avoid impulsive purchases of shiny new technology and to instead peel back the layers of organizational needs before seeking AI solutions. Furthermore, the importance of asking vendors the right questions before making a decision was highlighted, stressing the need for careful consideration and thorough evaluation.

In conclusion, the insights shared in the episode shed light on the necessity for businesses to prepare for the AI landscape in 2024 by adopting a strategic, proactive, and adaptable approach. Effectively leveraging AI technology can be a crucial differentiator for businesses, and by embracing the recommendations discussed, business leaders and decision makers can position their organizations at the forefront of the AI revolution.

Video Insights

Topics Covered in This Episode

1. Business Preparation for AI Strategy in 2024
2. Preparing Teams and Leaders for AI
3. Challenges of Keeping Up with Rapid Changes in AI
4. Generative AI and Its Impact on Small Businesses
5. Advice For Business Leaders

Podcast Transcript

Jordan Wilson [00:00:17]:

2024 is weeks away. And guess what? Your AI strategy is definitely not ready. So we're gonna be talking about that today and more on everyday AI. This is your daily livestream, podcast, and free daily newsletter, helping everyday people like you and me not just learn what's going on in the world of generative AI, but how we can all actually use it to grow our companies and to grow our careers. So if you're new here, thanks for joining. I'm extremely excited to talk today about AI business strategy and how business leaders can get ready for 2024. If you're listening on the podcast, thank you. Always check your show notes. We have related shows, other great resources, access to our free prompting course, all there in the show notes. If you're joining us live, Thank you as well. I always wanna hear from our audience. What are your questions, for our guest today, which we're gonna be getting to in a minute, about how to best get your business ready To take advantage of everything that AI has to offer while building your business strategy for 2024. Alright. Before we get to that, As we do every single day, let's do a quick recap of what's going on in the AI news. So Samsung is claiming that its newest chip is far more and Efficient than NVIDIA's. So Samsung and AI company, Navir, have, teamed up and are collaborating to develop a Cutting edge semiconductor solution for large scale AI systems. So the company's first solution that they just announced is reportedly 8 times more efficient than NVIDIA's AI GPUs. And, obviously, we talk about these GPUs a lot on the Everyday AI Show, and I get it. You might not be a dork like me, But whether you want whether you know it or not, these GPUs that are powering all of these generative AI systems are also Powering the American economy whether you realize it or not. Alright. Next piece of news. There's potential holdups in the White House's AI regulation plans. So US president Joe Biden's plan for regulating AI may may face difficulties due to a lack of resources and concerns about bias and transparency. So the White House executive order that was signed a couple of months ago calls on, or it AI calls for new standards For stress testing AI systems, but the agency has been tasked with these settings, which is the n I s t, lacks the budget and expertise to complete this work independently. So some members of congress are concerned that the NIST Will rely heavily on AI expertise from private companies with varied interests. Y'all, I said this right when the executive order came out. I said this has a lot of bite, No teeth. It's not really gonna work. It is largely just, you know, some some dressing. Nothing of substance. Alright. Last piece of AI news, The big one. We say the last like, the best for last, I'd say. MidJourney version 6 is out. It is live. It's been out for just a couple of hours. So the very popular AI image generating tool upgraded its system from I believe we were at 5.2 to version 6. So, in this new version, which you should definitely check out, even if you're not an artist, a photographer, whatever, this is a great generative AI tool that has a wide variety of apparently, from some early testing, it's a little better with hands. Right? Early on, some of those hands were always messed up in your AI image generators. Also, it finally handles some input text, just some minor things. That's one thing that, MidJourney has been behind. So if you want, You know, someone holding a sign with words on it, it always jumbled the words, never got it right. So, this new version 6 is the 1st, mid journey version that can handle text, minor text. So, you know, probably not going to get fantastic outputs, but, you'll probably get usable outputs. And then last but not least, there is a built in upscaler. Pretty pretty fantastic. We're just, just talking preshow with our guests about Magnific. So now that AI image, upscaler is gonna have some competition on their hands from MidJourney. Alright. So that's not what we're here to talk about. We'll talk about mid journey some other week. Today, we're here to talk about what is your AI business strategy, and are you ready 2024 because I'm guessing you're probably not. So, this isn't just me ranting. We have a great guest to today, so please help me welcome on the show, Marcus Bernhardt, the chief consultant at Endeavor Intelligence. Marcus, thank you for joining the Everyday AI Show.

Markus Bernhardt [00:04:49]:

Jordan, it's a great pleasure to be here. I'm a regular on the show just on the listening side, so really cool to be a part of the conversation.

Jordan Wilson [00:04:56]:

I love it. I love when we get, you know, even when I hear from from listeners or viewers for the first time and people are like, oh, I watch or listen every day. I'm like, that's fantastic. That's you, let me know. I always like hearing. But, Marcus, tell us a little bit about what your background is. What do you do at, Endeavor Intelligence? So what

Markus Bernhardt [00:05:12]:

I do is I I support people in their AI strategy. And what does that mean? That means supporting individuals, smaller teams, as well as departments, All the way right through to leadership teams and c suite with a special focus mostly on chief talent, chief learning, and chief human resources officers all around their AI strategy and the key there being that, yes, it's about the tools as as is the everyday AI show, but But it's also about the humans. It's also about the processes and procedures. And to be to be ready and to have an AI strategy covers a lot of different points. And it's really interesting work I do there. And then I'm also chief AI strategist over at the thinking effect. This is a Community of practice, so to speak, that I run together with Michael Vaughn, and it's got over 400 AI tools on there and and news about learning. So it's about AI and using it for learning and neuroscience. And yeah. So That's my role in a nutshell.

Jordan Wilson [00:06:11]:

I love it. I love it. Marcus, you know, I'm I'm always curious from a consultant from a business consultant perspective. Right? Because we've had some consultants on the show before, but this was many, many months ago. What's what's just in the consulting world? What is kind of the, the pulse On what companies are are companies, proactively seeking out help with AI implementation and strategy, or is it more from a consultant perspective? You're like, Hey, company. You don't have a plan yet. You've gotta get going. It's

Markus Bernhardt [00:06:41]:

shifting. I think more and more people, As they're getting ready for 2024 and beyond are realizing that they need more than a vision and a budget. Some have been leaning in heavily. Some have been holding back and wanting to see what others are doing. You know, that's the innovation curve. We're happy to go along with that. But Being being ready does not mean having a vision and, a budget in place. It goes far beyond that. It goes into the details of how the process and the procedures are arranged In an organization and how all those parts of the business, internal and external, that we're used to doing, How they change when AI comes in and drastically accelerates, for example, the the life cycles that we're used to and the approaches we need. So, generally, lots more coming on the poll side now. We used to push out this information more, but Organizations are realizing that they can do with a little bit of help, and, there's there's enough of us out there to support organizations in doing so.

Jordan Wilson [00:07:39]:

Yeah. In your in your personal experience so far, Marcus, are are are companies maybe realizing this a little Too late. Right? If if they're just coming up right now at the end of 2023 and they're like, hey. We should start, you know, strategizing for, implementing generative AI into business. Is it too late for them?

Markus Bernhardt [00:07:59]:

That's one of those questions. Since I'm a regular on the show, right, and I talk about this, Generally all the time and have for years. Right? I'm I'm not one of those who joined the craze just over a year ago when chat GPT came out. I was aware of GPT 2 and GPT and Free and all those things. So this is this is a really key question. We tend to think that everyone by now has got to a certain level And is moving along with the flow because we have so many conversations about it, but we're still surprised even the fraction of people that have not tried even GPT free. Just gone on and doodled for 5 minutes, and it's especially humbling to see how busy last year leaders have been that have not been on. And we're finding ourselves in a in a situation here where it doesn't matter whether you're the fresh graduate who's just joined from college or whether you're the and 10 year CEO super successful of the company. You have the same experience with regard to this new changing situation, and that is 0. And even if you are ahead of the times right now, remember, things are moving quite quickly and we're resetting back to 0 every week, every month at the moment. So even if you had a small advantage, if you're not staying on top of it, then then you you're back to the starting point. But it's not Difficult also to keep 1 up to date and to jump in now. So I would say probably from our perspective, you and me, this is a little bit late to to to join the gang. But, generally, it's it's it's never a bad time to start the process, and many are realizing that they need to start. And even those that have been more cautious, have been more worried about the ethics, have said, no. We're gonna hold back a little bit on this. We don't quite know what's coming. That's all well and good. And then, of course, there's smaller organizations who can't afford really cool AI enterprise solutions and to just Deploy things in smaller workflows, etcetera. Those are also not late to the table because we can't just make up a budget that isn't there in the 1st place. Right? But, Yeah. As I said earlier, as the innovation curve brings us all along with it, more and more will be joining, and I it's always the right time to start.

Jordan Wilson [00:10:06]:

You know, one thing, Marcus, that even from myself talking with, you know, business owners and, leaders at larger, larger organizations Is it seems like when they talk about, you know, AI implementation or their business strategy around AI, they still have this you know, We'll call it a web 2 point o mindset. It it seems like they still have this, you know, standard operating procedure that they go through in order to test, and implement a new technology, which sometimes is, turtle's pace. Right? It it is extremely slow. Can organizations Keep that same, application kind of methodology where where they go through these these you know, they have panels and internal meetings, and They test out different ones, and they put out RFPs. Is that the right way to to implement AI?

Markus Bernhardt [00:10:57]:

Well, you mentioned RFPs there, so that's a fantastic example to dive into. Right? We used to especially in larger organizations, we used to run our RFPs maybe with, 6 months timeline, checked out a few products, had conversations, saw demos, Then brought it all together and decided where we were gonna head. Then we bought one of them, signed a contract 2 or 3 year, sometimes self renewing. We ran the system for 2 or 3 years. Maybe we didn't even review properly after the 1st run, and it took another 2 or 3 years for the 2nd run to To establish itself, and we called that business as normal. And then at the end, we would review that, see the value we've got out of it, and then maybe go through a new RFP. Well, if that's how you want to approach AI, you're you're already dead. Sorry. But you're you're already gone. I call it the 3 constants that run as long side. You have to be on RFP mode all the time. You have to at least have an eye on the market. You're running in parallel your business as usual because that's your business, And you have to look at the value constantly. And with the field changing so rapidly, you're gonna need to deploy fast and hard use cases. Sign a deal for 10, 12, 14, 16 weeks. Run run a use case that's that can offer you whether the value is there That you're you're seeking, whether it's internal or external, we can always build a use case that minimizes risk, maximizes return on investment Opportunity, whether you're addressing a pain point or looking for new opportunities for your business, and then reiterate. And especially in that process, as you just said, we've got the new midjourney is out. They were looped by Magnific when it comes to certain image qualities. Now they've Come back and said, no. Here we go. But technologies are coming hard and fast. They're leapfrogging one another. And this system is a little bit more complicated. Let's call it chaotic Then taking an organization and rolling out the office package and then saying to departments, you can all use this. Here we go. Some of you might want To dive into Excel a bit more, and there might be even be a few weirdos amongst you who'll do VBA programming in the background of the Excel sheet. Well, That's all well and good, but you all have the office package off you go. And so and and so this is too fast. Things are moving Far too fast, and there's far too many tools out there to have that kind of an approach. And so that brings it back to a human element. In order to tackle this, we have to have a basic understanding about AI, generative AI, nongenerative AI. That's why your show is so good, and that's why people should be on it. We have to be able to communicate about the strengths and weaknesses. We have to know what hallucinations are and when they might be a problem and when when there's probably not a huge risk. And those basics need to be covered, and then we can have a conversation internally. And, you know, I'm not normally a fan of big quotes, but they always say, you know, the the the Steve Jobs quote, at least it's it's attributed to him, probably probably is true. You know, we don't hire great people to then tell them what to do. We hire them to tell us what to do. That continues in an AI age still, and there will be some good ideas out there. But can you utilize all those good ideas that you have across your organization in your teams and in your little pockets for where the opportunities lie with AI. That's not gonna come from the c suite. That's gonna come from the organization. And so that's when knowledge is really key, and the human element on the comms is really key to then to then navigate these stormy waters And be ready for the next wave and the next wave and the next wave because for the time being, they're gonna they're gonna keep coming.

Jordan Wilson [00:14:27]:

And, hey, as as a reminder, thank you everyone for joining us live. So Megan and Brian and Douglas and Lance and all these other people, Josh and Kevin and Ellington, thank you all for joining us. But, as a reminder, we have Marcus Bernhardt, the chief consultant at Endeavor Intelligence. So, Marcus, something that you just said there that I'm super interested in is this concept of leap Right? And, you know, there's always different tools or different techniques or, you know, flavors of the week that, draws everyone's eye. So how can businesses when when when this is so, you know, so paramount you know, even even with the bigger companies, you know, it's like, oh, You know, 2 weeks ago, everyone's looking at Google Gemini, and then everyone's looking at, oh, is this chat gbt 4.5? You you know, with so much innovation, So many new tools, acquisitions, 1,000,000,000 of dollars being thrown at different tools, different technologies. How can companies even correctly Look at the best way to implement something when there it there are so many changes something coming so quickly.

Markus Bernhardt [00:15:25]:

Well, the main thing is to Try and stay ahead of this. And so key here is to have your eyes out on the market and see what's happening around the tools that you might be using And can constantly have that conversation and reevaluate. This is particularly gonna be a problem In this phase, if you ask me, of AI, where tools are very small, very powerful, addressing very specific aspects. As they become more enterprise and the more successful ones start gobbling up and bear hugging and and acquiring some of the smaller ones and become Become those bigger tools that we will be using that come with many different features that are great across the organization. These waters are choppy. And like I said, on the thinking effect, we've got over 400 AI tools already there, just those of interest to mainly l and d for learning. And so you can you can imagine none of none of us have tried all 400. Absolutely impossible. Right? But this is this is key. And for this, you need All your teams to be doing some research and to keep be keeping themselves up to date. And if you're looking to enhance your career, as you always say at the start of the podcast, If you're looking to move forward, then no don't wait for IT to deliver deliver a training that will help you in this AI world. That's not gonna happen. You're gonna you're gonna have to take this on to yourself, and there's a real opportunity here as well. One one of the best opportunities possibly ever in the working world Where you can have your own initiative, keep yourself up to date, and make yourself part of a conversation where in many organizations are still to be decided who's in that conversation And even who starts that table. It's it's it's not it's not said that the IT department or or the or the chief AI person starts that table. The 1st department that has a really good AI strategy in place in writing ideally with processes and procedures and can communicate that and Cross departmentally and among leadership. That's where the table will be created, where the deal with discussions are being had, and that's a career opportunity for anyone out there.

Jordan Wilson [00:17:30]:

You you know, Marcus, you know, a couple of minutes ago, you you you talked about how, you know, it's kind of the people that are doing the work or using the tools that need to have inputs. And it's not necessarily a a top down approach when we look at, AI implementation into your business strategy. With that in mind, it it seems like another maybe problematic thing is a lot of people in different levels depending on the function of where they're at within an organization may not even speak the same language per se, especially when it comes to generative AI. How important is it for a company whether we talk about from the the bottom up, top down, whatever you wanna say? How important is it for them to all kind of Speak the same generative AI language and to get on the same page.

Markus Bernhardt [00:18:17]:

Great question, and I'll give you a simple example. When I run my AI basic workshop, then at the end of the day, I've got teams talking about Machine learning, deep learning, natural language processing, and all all those basics with confidence. They they get what hallucinations are and where they come from and that it's not a bug in the system, but that the system is designed in such a way that this, Basically, the system is dreaming up the answers nonstop. It just happens to be that when they're untrue, we call them hallucinations. And when they're true, then the Knowledge engine is strong enough to have given us a correct answer. Right? They start talking about these aspects with confidence even after a day of having the team together and spending a really intense day around these things. And then I get the feedback that not in only internally is it fostering good conversations, but people who deal externally with clients Suddenly, very quickly feel confident that they can feel very basic. Sometimes even the one or the intermediate question from a client around AI as part of the solution, and why or why not that might be a good idea. And so for for me, it's it's really key here With that as an example, how how simple it is with with the right tools and, with the right setup and training for your team To move huge steps forward. And I often see feedback such as long overdue When I run these workshops, but everyone everyone leaves with high levels of confidence, and the conversation then is ongoing. It's it's something it's something where you're empowering the team to take it from there themselves. And Once you have these pockets in your organization, they will start spreading. People will start talking that kind of language. And, no, you do not need a degree in computer science at all in order to cover these basics. Of course, a little bit of a deeper understanding is never a problem, and there's some good videos out there Even even the big speakers around AI, whether they're from OpenAI or from Hugging Face or you name it, what whatever work they're doing, if you know more that will only build your confidence further, but the basics are right there for the taking, and there's also courses out there. It's not just in the consulting world that we do these things. In a consulting world, we then also look at business strategy and other things, of course, The basics are there for everyone, and every individual can look to, you know, pursue Pursue the right courses and the right strategies to improve their personal career. Mhmm. Because that's the value to the organization is how much value are you bringing. And if you're keeping yourself up to date and you're part of the conversation, well, guess guess who's right at the top of the list, for For the next promotion and and and for the next growth phase of the of the organization.

Jordan Wilson [00:21:06]:

Yeah. Marcus, one, I I love this Comments here from Brad, and I have a question following up on his comments. So, you know, Brad saying when it comes to implementation, he says he's gonna look at what's costing my business the most money currently And then peeling back, peeling the onion back bit by bit. You know, for those companies that maybe have been thinking About generative AI or they're like, alright. Well, you know, let's let's focus on this year end. Let's you know, this is a big thing. Let's Talk about it q 4 and implement it, you know, q 1 2024. What what is the best approach for those companies that are maybe doing this For the 1st time, they've known it's a priority. You know, maybe they've been talking about it for a couple of weeks or a couple of months. But what is the best approach? Is it what Brad's mentioning here? Is it a different approach?

Markus Bernhardt [00:21:51]:
I I would say do more do more of what Brad's doing. If you've identified your biggest pain points and you're starting to peel back the onion, you're ahead of the curve. And if you're also at the same time looking at where your biggest opportunities might lie when it comes to automation and processes and Start to pee unpeel that onion. That's the second half of the equation. Now you can go out and look at the tools that are out there. You can go to conferences. You can speak to people. You can speak to vendors, and now you can match what they're offering to Your pain points and to your opportunities, and now it fits the bill. Too often in 2023, have we seen people walk around confidence conferences And the vendor floor, finding shiny fantastic tools and thinking, what's the problem in my organization that this fantastic shiny new thing could solve? Well, In the innovation curve, that's a normal thing to do early on. That's that's your first time in Toys R Us. Right? You're just overwhelmed, and you think, oh my god. There's so much cool stuff here. How can I use this in my organization? But then we take a step back and we say, well, let's let's be considerate. We've only got a certain budget. We've only got a certain amount of time. So what Brad says is spot on. Take your pain points, take the opportunities, start peeling back the onion, then go out and see who can support you with that. And if you've done your basics and you you know your basic stuff, then you can also ask vendors the right questions. And that's that's also key Because we see a lot of vendors in 2023 where they say, you know, we've got this tool, and and and we use AI to automate that piece. Yeah. And that's it. That's the information that's given. And then the buyer is supposed to say, well, oh, if it's automated, that must be fantastic. So But that's not the moment anyone signs the contract. So we we also need to have better conversations with vendors, and vendors need to need to also Get their salespeople up to speed to have better conversations with everyone who's interested. I mean, even to the end of the first half year of 2023, I went to vendors and I asked what LLM, they're they're deploying in the background, and the sales team said we're building our own. And I chuckled, and I said, no. You're not. I know you're not one of those companies who do. Please go back. Go go go back to the team and ask and ask which one it is got in the background. And Yeah. Do do that for yourself because you're gonna want to have some better conversations out here, and you're not building your own. I know you might be building some more The the one or other algorithm, and you might have some AI tools in the background, but that's not how you're approaching it. Yeah. So go go and get the answer.

Jordan Wilson [00:24:19]:
I love I love that one, Marcus. You know, when everyone says they're building their own large language model, not knowing to build an even usable one, It's a multimillion dollar investment, and you have to have some of the most talented and in demand, you you know, people in the world working on your team, which people don't have, but that's beside the point. I do have a question though because, I've been saying this for months is that I think that generative AI is the ultimate, Like leveler of the playing field. Right. I think that for decades that your large and enterprise companies have had unfair advantages when it comes to tech, implementation because a lot of times, you know, small teams don't have the budget or they don't have the, the capabilities. Right? But I think it's completely different now because these tools, generative AI and Tools that even now the biggest companies are using, they're available to the everyday person at small cost. So getting to Mabrit's question here, curious about your take. What use cases are there that are maybe underestimated by biz, and founders? What gets overestimated in regard to AI? So and kind of specifically even asking here about business founders, presumably maybe, smaller businesses, but what's what's your take on that?

Markus Bernhardt [00:25:30]:
The advantages smaller businesses have always had on the big ones is the big ones are oil tankers, and they don't move very quickly. And you ask them to change direction that takes forever. That's why really cool startups get gobbled up by bigger organizations because that's how big organizations do innovation because otherwise, they're too slow. Now we can already see that the smaller guys have an advantage here. And that also, I think, goes for AI, not only in terms of budgets and tools that is now fantastic, but also in terms of size and the general agility that we have in smaller organizations. So you don't need to be a small tech startup. You can be a small start up in whatever sector, and you can have your workflows optimized. You can have Utilize AI in specific areas. We're asking about the perfect use cases. But, basically, if we listen to the Show here. We've heard salespeople. We've heard marketers. We've had education people. We've had everyone on your show, and they all talk about how they are utilizing The tools. Right? So there's the agility. The accessibility is there. The market is so fast moving that even as a small organization, you're gonna struggle a little bit. That's the new normal, so to speak. And so you're you're ahead of the curve here. You you're small enough to be agile. Utilize that to your advantage In in in larger organizations, even, you know, even a department or team, if it has enough people, will really struggle to be that agile, And then they still have to run run things past other other parts of the organization, and they want to remove silos. They want to utilize AI to reduce silos. AI brings us a huge opportunity to reduce silos in the business world in in organizations, but it also brings with The danger of being the best tool to entrench those silos. All of those things have to go on in a large organization. You have to do none of those in a small one, especially in a start up. So but for me, yes, it is a leveler, definitely. And the smaller the organization, the more agile you can be and the more you can utilize what's out Regardless of what your products and services are and how large your teams are.

Jordan Wilson [00:27:39]:
You know, Marcus, it's interesting the the concept of, the hidden dangers, you know, working in silos and maybe generative AI actually might make that worse. Specifically when it comes to implementing, an AI business strategy coming into the new year. My personal take is is you're going to have, CEOs, you know, people in in high high up positions making decisions that they do not have the experience, or the background to make decisions in. With that in mind, what are maybe in whether it's from your own experience or not, what are some of the dangers or some of the potential obstacles that business leaders need to keep in mind when it comes to creating and implementing their business strategy for the new year.

Markus Bernhardt [00:28:23]:
The fact that this needs to be trickled down ideally and the fact that no one has any experience with this. So if if you're if you're preparing for the new year, one of the things you should have been, spending a lot of time and effort on is preparing your teams to be ready For that moment when the new budget releases, when the AI policy is out, and when the new vision is out. Because if you're releasing that and you haven't done any prework with your With your managers, with your VPs, if they're not ready to answer the questions they'll be getting in turn from the individuals within those teams, Then you're not ready for 2024. So key aspect here is the communication and the processes that are in place. Where are the conversations happening? How do we share the communication? How do we share our strategy across departmentally and with leadership? And how do we keep that cycle going? That with a good idea starts somewhere. How does that good idea make it all the way through to the right table Can be debated, and we can fish out the really best ones. And we can then utilize those ideas also across departmentally. The more important, the bigger the organization. Right? Because a good a good tool that finds an application in 1 department will most certainly at least have 1 other department Where it can where it can provide real really big value as well, especially in a larger organization. So for those processes and procedures and that communication, that is the key bit, And that's where that's where leaders should be focusing on. Are the teams ready? Do they have the answers to the questions that they will have and that they'll be getting from their team members? That's where the focus should have been.

Jordan Wilson [00:29:59]:
Marcus, we've we've we've tackled this from so many different angles. We've talked about kind of the short term Challenges, long term implementation, the concepts of, you know, tools leapfrogging each other and kind of, you know, looking at all the different new toys and, you know so we talked about so many different things, but but as we as we wrap up today's show, what is maybe the one most important piece, of advice that you have For business leaders, for decision makers when it comes to creating and implementing an AI business strategy for the new year.

Markus Bernhardt [00:30:31]:
My biggest advice, I'll go very broad here, is get stuck in yourself. Know what you're talking about. Don't be don't be one of those business leaders who, thinks that AI is just a tool Within this world, it's yes. It is a tool, but it is one that is reshaping how we do our jobs, How our businesses operate, how we interact with our clients, and how our products and services are delivered and communicated. Everything is changing. If you haven't if you haven't been on the free version of one of the chat tools, be it GPT or be it Bard, If you haven't got stuck in and started yet, it's just about time. My biggest advice is do your homework. And The more you are a leader, the more you should be doing your homework because you're only leading when when you can steer the ship and we can when you can answer some of those questions. There will be, as they say in leadership, there will be wicked questions to which no one knows the answer. That's part of leadership as well, but a good basic standing and knowledge has never hindered anyone to steer the ship to through a wicked problem.

Jordan Wilson [00:31:36]:
Such such good advice. And, hey, everyone. We covered a lot today. Some great insights from from Marcus. And and don't worry. We're gonna be recapping it as we always do. But, Marcus, I just wanted to say thank you so much for joining the Everyday AI Show. This is and Super valuable information for all of us, all business leaders, decision makers as we look forward to 2024. So thank you for joining the show.

Markus Bernhardt [00:31:59]:
Thank you very much. It's been absolute pleasure and really cool to be on after all these episodes that I've listened to myself.

Jordan Wilson [00:32:05]:
I love it. I love it. And, hey, as a reminder, If you haven't already, make sure to go to your everyday AI .com. Sign up for that free daily newsletter. Not only do we go over, yes, all the AI news of the day, Fresh finds from across the Internet talk about all these tools that are leapfrogging each other, but we're also gonna have an in-depth breakdown of today's conversation with Marcus, more resources, more insights from the conversation, so don't miss that. And, also, don't miss. This is actually a good precursor for tomorrow because, I think, this is an alley oop situation because tomorrow, I'm gonna be talking about Gen AI in 2024, some predictions. You know, now that Marcus gave us, The the road map. I'm gonna be coming in with some extremely hot takes, so you don't wanna miss that. Thank you for joining the show, and we hope to see you back tomorrow and every day with more everyday AI. Thanks, y'all.

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