Competing in the Age of AI - Deepstash
Competing in the Age of AI

Competing in the Age of AI

Marco Iansiti, Karim R. Lakhani

9 ideas

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MARCO IANSITI

AI is reshaping business and redefining competitive advantage. Leaders need to adapt their mindsets and strategies to compete and collaborate in ecosystems driven by algorithms.

MARCO IANSITI

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647 reads

Understanding AI's Multifaceted Business Impacts

Understanding AI's Multifaceted Business Impacts

AI's implications for business extend far beyond simply automating repetitive tasks. Applied thoughtfully, AI also enables vastly expanded leverage of data, personalization and customization at scale, superior prediction capabilities, and deep integration across platforms and ecosystems.

Business leaders across functions must radically adapt their mindsets and strategies beyond isolated automation use cases to compete in an environment increasingly defined by intelligent and interconnected machines.

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443 reads

Adopting a Network-Focused Mindset

Adopting a Network-Focused Mindset

  • In ecosystems of increasingly intelligent and interconnected machines, value is driven less by individual firms and more by the broader networks they participate in.
  • Adopt network-focused thinking, in which success stems from efficiently orchestrating platform-based ecosystems of producers and consumers.
  • Move from controlling internal resources to harnessing external networks.

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401 reads

Competing Through Rapid, Intelligent Experimentation

Competing Through Rapid, Intelligent Experimentation

Success requires continuously hypothesizing, building, testing, analyzing, and refining AI-powered prototypes and business models at speed.

Fail fast, adapt, and iterate.

The availability of massive datasets and progress in machine learning vastly accelerate the pace and viability of experiments a company can run.

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336 reads

Cultivating Organizational Learning and Adaptability

Cultivating Organizational Learning and Adaptability

Instill tight feedback loops and information flows for continuously observing impacts, drawing insights, and immediately applying the learning by publishing findings and altering strategies.

The pace of AI-infused environments necessitates agility, learning, and willingness to self-disrupt. Never stand still.

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304 reads

Leveraging Platform Business Model Advantages

Leveraging Platform Business Model Advantages

In environments where value is produced via networks, leverage platform business models that efficiently and intelligently match producers and consumers of value, while also capturing a share of that value for the platform via fees, data accumulation, or other means.

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274 reads

Developing Multidisciplinary AI Talent and Know-How

Developing Multidisciplinary AI Talent and Know-How

  • Build teams encompassing a diversity of AI-related skills including computer science, mathematics, ethics, design thinking, business strategy, change management and more.
  • AI progress requires technical prowess combined with humanistic perspectives to produce well-rounded solutions.

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Proactively Managing AI's Impacts on Jobs

Proactively Managing AI's Impacts on Jobs

  • Responsibly monitor jobs at high risk of automation displacement.
  • Provide transition support, reskilling/upskilling, severance, and alternative role paths for workers affected.
  • Manage societal and enterprise impacts simultaneously.

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258 reads

Prioritizing Humanistic Values and Concerns

Prioritizing Humanistic Values and Concerns

Instill and operationalize strong humanistic guardrails around ethics, fairness, transparency, accountability and control to ensure the development and application of AI technologies ultimately serve and benefit humanity, rather than threaten it.

Technological progress and humanistic progress must advance hand-in-hand.

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CURATED BY

rebeccamurra

Medical physicist

CURATOR'S NOTE

In Competing in the Age of AI, Iansiti and Lakhani provide frameworks for business strategy, leadership, and organization in an age increasingly driven by AI, platforms, and networks. They advise on navigating ecosystem-driven disruption.

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