Experts’ Book on the Tech Phenomenon Will Help You Go All In On AI, a CEO Writes

By Ray Titus

Artificial intelligence is being used in most industries now, and many companies – including mine – have enthusiastically adopted it and are benefiting from it. But many others are hesitating out of uncertainty and even fear. Change can be challenging, and new technology can feel overwhelming to those who aren’t comfortable with it. If you’re one of them, you’ll feel more confident after reading All In on AI: How Smart Companies Win Big with Artificial Intelligence by Thomas H. Davenport and Nitin Mittal.

This is one of the best AI books I’ve read. I consider myself knowledgeable about the subject, and we were early adopters because of the high value we place on learning new skills and embracing technology. But I found a lot of new insights and information. I was intrigued by the authors’ case studies of major companies that are “AI-fueled,” explaining how each company creates value with AI and how they came to be “all in.” Davenport and Mittal take a broad, complicated subject and distill it clearly for AI, novices and veterans alike.

Here are three insights I took away from the book.

Takeaway 1: Powered by People, Not Technology

Our company has been transformed by AI, which has made everyone better at their current jobs. It helps us do more with less and gives us new ways of tackling the big-picture items. It hasn’t replaced anyone or their jobs, although it has removed some routine tasks they probably don’t miss.

AI can do some incredible things at lightning speed, but like any other business tool, it can’t do anything without people driving it. With all its power to transform, AI needs to be managed by people who can think creatively and drive innovation – who don’t just accept change but embrace it.

Takeaway 2: The Whole Organization Must Embrace It

There’s a temptation to leave technology in the hands of the IT department, but that’s a mistake. Davenport and Mittal found about 30 large companies are “A.I.-fueled,” meaning they use the technology to power their entire organization. Your teams are the best judge on how AI can help them. Your tech experts know how it works but don’t know about your products or what you need AI to do. The entire organization must be involved in implementation and learn all they can about it to decide which technologies will work for their business and get their teams on board.

At my company, United Franchise Group, we’re introducing AI apps and showing our franchisees how to use them to improve their business.

Takeaway 3: Question Everything 

Leaders must explore ways AI can improve business processes, product innovation and profitability. The best way to do that, Davenport and Mittal say, is to ask questions – lots of them.

At our company, we’ve learned to ask the right questions to get the information we need. It’s like peeling an onion – each question leads to another that takes you deeper into the issue. Questions are the key to AI. The more questions you ask, the smarter this thing gets. I truly believe that old saying, “There are no dumb questions,” to which I would add, “only people who are afraid to ask about what they don’t know.”

AI Is Here to Help Us, Not Hurt Us

So much has been written that feeds fear about AI, likening it to a network of robots that will not only replace us in the workforce but make our jobs obsolete. No wonder people approach it with dread, resisting it or “accepting” it grudgingly. But as Davenport and Mittal show, AI is nothing more than another tool that can help people – yes, people – do their jobs better.

It’s up to you to decide how your business can benefit from this incredible technology. If you’re contemplating adopting it, reading All In on AI should be the first step in mapping your path.

Bonus Read: The Power of Questions

I was excited to read Davenport and Mittal’s recommendation about asking questions because I’ve always felt that asking questions is one of the secrets to success. I decided to write The Power of Questions to help people understand its importance and learn how to question effectively.

Three is the bare minimum number of questions that will help you start to understand a situation. Each question will lead to another… And one important question that will usually get you there is “Why?”

And remember, this is a conversation, not an interrogation. Take a moment to digest what you’ve heard. You might learn something.

This article was originally published by Franchising Magazine USA