We loved Karim Lakhani‘s recent take in Harvard Business Review interview. Want a quick recap?

We had Charlie do it for you here:

• Karim Lakhani argues that AI and machine learning have fundamentally changed business models, how companies create and capture value, and how they operate. Algorithms now mediate many transactions and activities in AI-driven companies.
• He advises companies to embrace AI, as most will not have a choice. The transition is inevitable as consumers already live in an “AI-first world.” The cost of adoption keeps getting lower.
• Leaders need a “digital mindset” – understanding AI’s possibilities and limitations. Change management skills are critical as continuous adaptation is required.
• Generative AI like ChatGPT massively lowers the cost of cognition and thinking. Lakhani sees it as transformational, comparing it to the web browser’s impact.
• He recommends experimenting with generative AI, not banning it. Identify use cases through sandboxes and bootcamps. AI won’t replace humans, but humans + AI will replace those without it.
• Lakhani stresses the need to address bias in AI systems by understanding how they are built and trained. Leaders have an ethical duty here.
• Customers tend to adapt to new technology faster than companies realize. Firms shouldn’t assume they are ahead of consumers.
• Lakhani believes strong general AI with human-like intelligence may arrive in around 20 years. Its emergence may be difficult to detect.

In summary, Lakhani argues companies must embrace AI’s rapid evolution through continuous learning and adaptation. Generative AI is a breakthrough, and harnessing it properly will confer major advantages.

Read the full article here:

Image Credit: Suzy

*Written by GoCharlie.ai

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