Why Everybody Needs an AI Strategy

This Week’s Edition

Hello and welcome to this week's Tuesday edition of Domorewith.ai, now in a revamped format! We're excited to bring you a curated selection of AI-related insights, tools, and media content.

• 📖 This week's blog post delves into Why Everybody Needs an AI Strategy irrespective of size or sector. Not only will we discuss why an AI strategy is crucial for staying competitive, but we'll also provide actionable guidance on how to formulate one.

• 🖥️ This weeks edition of our AI Toolkit spotlights Glide, a no-code platform that simplifies the development and deployment of robust, AI-driven custom apps. Additionally, we introduce Stable Audio by Stability AI, an innovative solution that allows you to generate custom-length music based on descriptive input. This tool is particularly intriguing for those interested in crafting license-free, high-quality music. Don't miss out on exploring these cutting-edge resources.

• 🎤 Most valuable media this week features a thought-provoking article by Ethan Molllick, delving into the transformative role of AI in the future of work. Citing a recent study conducted in collaboration with BCG consultants, the data reveals substantial performance gains attributed to AI integration. Specifically, consultants equipped with AI capabilities completed an average of 12.2% more tasks, achieved a 25.1% quicker task completion rate, and delivered results with a 40% uptick in quality compared to their non-AI counterparts. Additionally, we highlight Elon Musk's recent discussion on AI at the All In Summit, offering further insights into the field.

So grab a cup of coffee, sit back, and let's dive into the fascinating world of AI together. Enjoy!

Jenko

Why Everybody Needs an AI Strategy

This blog post is a refined version of a presentation I've delivered to clients and various groups on the subject of AI in recent months.

In today's rapidly evolving world, having an AI strategy isn't just an option—it's a necessity for any forward-thinking business. AI has transcended buzzword status to become a fundamental driver of business transformation, capable of automating tasks, providing unparalleled insights, and even making autonomous decisions. Whether you're a startup or an established enterprise, understanding how generative AI can transform the way your business operates is crucial as it becomes ubiquitous across industries.

The stakes are clear: companies with a robust AI strategy experience remarkable gains in operational efficiency, customer experience, and, most crucially, ROI. Those lagging behind in AI adoption risk not just stagnation but potentially irreversible decline as competitors harness the power of AI to leap ahead. Business need to find ways to integrate the technology into their own processes and products, fast.

The Rise of AI

Much like other revolutionary innovations, the media has a tendency to shape its own agenda-driven narrative about AI, often influenced by its quest for sensationalism or audience engagement. Typically, this narrative has oscillated between portraying either a dystopian menace leading to the end of civilisation or a utopian solution where everyone enjoys endless leisure. However, the truth is more balanced: AI is a powerful instrument that not only augments human capabilities but also opens the door to previously unimaginable possibilities.

One thing is certain: AI holds the record for the most rapidly adopted business technology, a fact underscored by ChatGPT reaching 100 million users within just two months of its launch. People frequently inquire about the reasons for this rapid adoption, and here are my thoughts:

Simplest interface ever - Despite its complex tech, ChatGPT's user-friendly interface has made it accessible to a diverse audience, thereby popularising English as the hottest new programming language.

Meeting Diverse Business Needs - One of the key reasons behind AI's rapid adoption is its ability to meet a wide range of business needs across multiple industries.

Easy Integration - AI's seamless compatibility with existing systems has accelerated its adoption, allowing businesses to leverage its power without costly or time-consuming overhauls.

Scalability & Cost-Efficiency - Once an effective AI solution is in place, scaling it involves minimal additional cost, making it not only adaptable but also economically advantageous for businesses.

Continuous Improvement - AI algorithms learn and evolve over time. The self-improving nature of AI has made it an appealing investment for businesses seeking long-term benefits.

Competitive Advantage - Companies leveraging AI-powered solutions have witnessed significant improvements in their operations and decision-making processes, leading to increased market share and profitability.

While the benefits of AI are extensive, Individuals are grappling with AI's swift evolution, which has transitioned from a fledgling tool to a highly competent one in a short span, accelerated by advancements like ChatGPT-4. This rapid progress has essentially skipped the gradual adoption phase, setting high expectations for near-perfect performance from the outset, despite AI already outperforming humans in numerous domains.

Nevertheless, the more I engage with AI, the more convinced I become that it is the most transformative and deflationary technology we'll witness in our lifetimes. Every company needs an AI strategy to avoid being left behind, as AI tools increase the opportunity cost of wasted time higher than it’s ever been in human history.

What is an AI Strategy?

An AI strategy is a comprehensive plan that aligns AI initiatives with an organisation's overarching business objectives. Unlike isolated AI projects or use-cases, an AI strategy aims for a coordinated, company-wide approach. This ensures that AI becomes more than just a set of tools; it becomes an integral driver of the organisation’s competitive advantage, operational efficiency, and innovation.

Click here to read the rest of the Blog Post

Our Agency

AI Toolkit

Product of the Week

New Products

• Stable Audio - Create custom-length music just by describing it. Powered by the latest audio diffusion models.

• slite - Free up your team from the burdens of creating, managing and finding trusted company information. Single source of truth is finally possible with Slite's collaborative knowledge base, powered by AI.

• AudioNotes - Convert your random voice notes and unstructured text notes into structured text summaries using AI.

• Kick - Self-driving bookkeeping. Daily bookkeeping for the modern business owner. Minimise your audit risk and only pay when you save. US based product for now (but someone in NZ/Aus should build something similar)

• contra - Launch an AI-powered portfolio in minutes, not months, with built in payments and analytics for freelancers.

• Mindpal - Build customised ChatGPT-like agents that understand both your standards and your business context in seconds with no code — anything from a customer support chatbot, an internal AI search engine, to a full-scale CEO assistant.

• CX Assist - Personalised, Al-Powered Email Responses to Boost Efficiency, Nurture Clients, and Transform Your Sales and Support Customer Experience!

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