g-f(2)1701 From Threat to Triumph: Maximizing Competitive Edge with Generative AI

 

genioux Fact post by Fernando Machuca, ChatGPT, and Bing Chatbot 

GK Juices or Golden Knowledge Elixirs

Daily g-f Fishing GK Series

Angel sponsors                  Monthly sponsors 

Introduction:

Generative AI, with its potential to revolutionize industries, poses both a threat and an opportunity. Scott Cook, Andrei Hagiu, and Julian Wright, in their Harvard Business Review (HBR) article, explore how businesses can turn generative AI from an existential threat into a competitive advantage. The authors delve into the strategic incorporation of generative AI and provide insights into leveraging its capabilities across three distinct levels.

Lighthouse of the Big Picture of the Digital Age

genioux GK Nugget:

"Generative AI, by making product and service improvement more accessible, has the power to disrupt and potentially commoditize businesses. The key lies in transforming this threat into an advantage through strategic implementation." — Fernando Machuca and ChatGPT

genioux Foundational Fact:

Companies adopting generative AI can progress through three levels: 1) Adopting publicly available tools, 2) Customizing tools with internal data, and 3) Creating automatic and continuous data feedback loops. Each level offers an increasing degree of competitive advantage.

10 Most Relevant genioux Facts:

Lighthouse of the Big Picture of the Digital Age

1. Level 1 Adoption: Implementing publicly available tools like ChatGPT and Bard enhances internal communication, generates ideas, and improves efficiency across various industries.
2. Temporary Advantage: Gaining an edge by leveraging AI tools better or faster than competitors is a short-term advantage, with the tools soon becoming standard.
3. Level 2 Customization: Building customized AI tools using proprietary data enhances customer experience and adds personalized capabilities, such as in enterprise software and financial services.
4. Feedback Loop Importance: Level 3 involves creating automatic data feedback loops, allowing continuous improvement and compounding competitive advantage, as demonstrated by Chegg's personalized learning assistant.
5. Continuous Learning: Companies can benefit from level 3 implementation across diverse industries, such as video game publishers, streaming services, and professional services firms.
6. Implementation Considerations: Moving through the levels requires increased expenditures, technical expertise, and adjustments to products, services, and internal processes.
7. Data Security: Concerns about sharing internal data with publicly available AI tools are addressed by generative AI providers, ensuring secure and private usage.
8. Customer Feedback: Obtaining reliable customer feedback is essential for level 3 implementation, with the challenge of ensuring a natural and high-quality feedback loop.
9. Customization Accessibility: Customization using proprietary data becomes increasingly accessible, with companies able to obtain generative AI capability from providers like OpenAI and Microsoft.
10. Strategic Adoption: Businesses, regardless of size, should consider adopting generative AI at level 1, with larger firms having the resources for levels 2 and 3.

Lighthouse of the Big Picture of the Digital Age

Conclusion:

The widespread adoption of generative AI technologies suggests that companies with access to unique and continuously replenished customer data are best positioned for durable competitive advantage. Proper execution, strategic integration, and proactive leadership are crucial for realizing the full potential of generative AI in shaping the future of business.

REFERENCE

The GK Article

Scott Cook, Andrei Hagiu, and Julian Wright, Turn Generative AI from an Existential Threat into a Competitive Advantage, Harvard Business Review, From the Magazine (January–February 2024). 

Scott Cook 

Scott Cook is an American businessman who co-founded Intuit, a financial software giant known for products like QuickBooks, TurboTax, and Mint¹². Born in 1952, Cook holds a bachelor's degree in economics and mathematics from the University of Southern California and an MBA from Harvard Business School¹. 

He started his career at Procter & Gamble, where he learned about product development, market research, and marketing. He then took a job in strategic consulting at Bain & Company¹. Inspired by the emerging personal computer market, Cook launched Quicken and named his company Intuit in 1983¹. 

He served as president and CEO of Intuit from April 1983 to April 1994, and was Intuit's chairman from February 1993 to July 1998¹. He remains the chairman of the executive committee of Intuit³, and owns about 2.5% of Intuit's shares⁴.

Cook is also a director of eBay and Procter & Gamble¹. He and his wife, Signe Ostby, established the Center for Brand and Product Management at the University of Wisconsin–Madison School of Business¹. They are also trustees of their family foundation, Valhalla, which funds early childhood development, K12 education, medical research and talent, environmental innovation, data literacy, and collaborative philanthropy¹..

Source: Conversation with Bing, 12/11/2023

(1) Scott Cook - Wikipedia. https://en.wikipedia.org/wiki/Scott_Cook.

(2) Scott Cook - Forbes. https://www.forbes.com/profile/scott-cook/.

(3) Scott Cook - CHM. https://www.computerhistory.org/profile/scott-cook/.

(4) Bloomberg Billionaires Index - Scott Cook. https://www.bloomberg.com/billionaires/profiles/scott-d-cook/.

(5) en.wikipedia.org. https://en.wikipedia.org/wiki/Scott_Cook.

Lighthouse of the Big Picture of the Digital Age

Andrei Hagiu

Andrei Hagiu is an Associate Professor of Information Systems at Boston University's Questrom School of Business¹². Prior to his current role, he served as an Associate Professor in the Strategy group at Harvard Business School and in the Technological Innovation, Entrepreneurship, and Strategic Management group at MIT Sloan¹². 

Hagiu holds a PhD in economics from Princeton University¹. His research and teaching are entirely focused on platform businesses such as Airbnb, Alibaba, Amazon.com, Google, Grab, Facebook, iPhone, PlayStation, Uber, Upwork, etc., and their unique strategic challenges¹. He uses the insights from his research to advise and angel invest in startups attempting to build platforms and marketplaces, and to consult with large companies seeking to turn their products into platforms¹. 

Hagiu is a leading expert on platform strategy and business models². He has taught platform strategy courses at Harvard Business School and the MIT Sloan School of Management². He is also known for his significant contributions to the field through numerous publications².

Source: Conversation with Bing, 12/11/2023

(1) About me — Andrei Hagiu. https://andreihagiu.com/bio/.

(2) Andrei Hagiu | Questrom School of Business - Boston University. https://www.bu.edu/questrom/profile/andrei-hagiu/.

(3) Andrei Hagiu | Insights@Questrom. https://insights.bu.edu/author/ahagiu/.

(4) undefined. http://www.andreihagiu.com.

Julian Wright

Julian Wright is the Lim Chong Yah Professor of Economics at the National University of Singapore¹. He is a leading expert in the field of economics, with a particular focus on platform strategy and business models¹. His research and teaching revolve around platform businesses and their unique strategic challenges¹. Wright uses his research insights to advise startups attempting to build platforms and marketplaces, as well as consulting with large companies seeking to transform their products into platforms¹. His significant contributions to the field have been recognized through numerous publications¹. His work is shaping the future of economics in the digital age¹..

Source: Conversation with Bing, 12/11/2023

(1) Julian Wright - Wikipedia. https://en.wikipedia.org/wiki/Julian_Wright.

The "g-f New World"

The "g-f New World" is an innovative creation by Genioux.com Corporation. It's part of the "genioux facts" online program, which aims to illuminate the mastery of the digital landscape¹. The "g-f New World" is a realm that focuses on the revolutionary process of Digital Transformation across industries, organizations, and nations¹.

g-f(2)1580 GK Elixirs Unveiled: Navigating the New World of genioux Wisdom

Here are some key aspects of the "g-f New World":

• Personal Digital Transformation (g-f PDT): This represents the individual's journey of learning, unlearning, and relearning, fostering an environment where adaptation to the digital era yields not just survival but thriving¹.
• g-f Treasure: This treasure amalgamates cutting-edge emerging technologies, profound multidisciplinary knowledge, and the force of PEOPLE, the architects of metamorphosis¹.
• Golden Knowledge (GK): In the heart of the "g-f New World," daily springs of exquisite knowledge converge, known as Golden Knowledge (GK). These precious insights continuously blossom, fostering enrichment and growth¹.

The "g-f New World" is a vision for the future of the world in the digital age. It is a world of unlimited growth and prosperity, where people are empowered to learn, grow, and thrive¹. It is a world where technology is used for good, and where everyone has a chance to succeed¹.

Source: Conversation with Bing, 11/27/2023

(1) g-f New World - Genioux.com Corporation. https://gnxc.com/g-f-new-world.

(2) g-f(2)959 THE NEW WORLD (2/23/2022), geniouxfacts, The "g-f story" of .... https://blog.geniouxfacts.com/2022/02/g-f2959-new-world-2232022-geniouxfacts.html.

(3) g-f(2)942 THE NEW WORLD (2/16/2022), The Story of the New World in a “g .... https://blog.geniouxfacts.com/2022/02/g-f2942-new-world-2162022-story-of-new.html.

(4) "g-f GK": The Radiance of Limitless Understanding - gnxc.com. https://gnxc.com/g-f-gk.

"genioux facts" Program

The "genioux facts" is a free online program developed by researcher, professor, and entrepreneur Fernando Machuca (PhD in computer science) and his team¹. The program focuses on "Mastering the Big Picture of the Digital Age" and aims to create a better world in the digital age²⁴⁵.

g-f(2)1699 genioux GK Nugget of the Week (12/10/2023)

Here are some key aspects of the "genioux facts" program:

• Essential Blocks of Executive Knowledge: The program examines the state of the art of the digital age daily to deduce, extract, and produce the essential blocks of executive knowledge, also known as "genioux facts"¹.
• Golden Knowledge (GK): The "genioux facts" are the building blocks of Golden Knowledge (GK) that can help create a better world².
• Critical and Creative Thinking: The program teaches us how to think critically and creatively, providing us with the Golden Knowledge we need to succeed in the digital age².
• AI-powered Dream Team: The program features an AI-powered dream team that brings forth Golden Knowledge (GK) to fuel boundless growth for all, offering a fascinating beacon of hope for humanity amid the perils of misinformed leaders².

In essence, the "genioux facts" program is a beacon in the exploration of the digital age, providing insightful viewpoints on the crossroads of AI and human creativity³. It's a platform that empowers individuals and nations alike to navigate the challenges and opportunities of the digital world².

Source: Conversation with Bing, 11/27/2023

(1) “genioux facts”:. https://www.geniouxfacts.com/.

(2) “genioux facts”: The online program on "MASTERING THE BIG PICTURE OF .... https://blog.geniouxfacts.com/.

(3) “genioux facts”: The online program on "MASTERING THE BIG PICTURE OF .... https://blog.geniouxfacts.com/p/about.html.

(4) genioux facts (g-f) - Genioux.com Corporation. https://gnxc.com/genioux-facts-g-f.

(5) “genioux facts”: The online program on "MASTERING THE BIG PICTURE OF .... https://blog.geniouxfacts.com/2023/10/g-f21409-genioux-revolution-new-era-of.html.

Who can benefit from genioux facts program

g-f(2)1698 Weekly genioux Foundational Fact (12/10/2023)

The "genioux facts" program is designed to benefit a wide range of individuals. Here are some groups who might find it particularly useful:

• Individuals: The program can help individuals understand the digital age and adapt to its challenges and opportunities¹. It's particularly beneficial for those who are curious about the digital age and want to learn more about it².
• Executives: The program provides essential blocks of executive knowledge, making it a valuable resource for executives who want to stay informed about the latest developments in the digital age¹.
• Entrepreneurs: Entrepreneurs can benefit from the program's insights into the digital age, which can help them identify opportunities and make informed decisions².
• Researchers and Professors: Those involved in academic research or teaching can use the program as a resource for understanding the big picture of the digital age².
• Students: Students studying computer science or related fields can use the program to supplement their coursework and gain a broader understanding of the digital age².

In essence, anyone interested in understanding the digital age and its impact on various aspects of life and work can benefit from the "genioux facts" program².

g-f(2)1696 The 10 Most Read genioux Fact Posts of the Week (12/10/2023)

Source: Conversation with Bing, 11/27/2023

(1) “genioux facts”: The online program on "MASTERING THE BIG PICTURE OF .... https://blog.geniouxfacts.com/2023/09/g-f21310-genioux-ai-powered-chatbot.html.

(2) genioux facts (g-f) - Genioux.com Corporation. https://gnxc.com/genioux-facts-g-f.

(3) “genioux facts”: The online program on "MASTERING THE BIG PICTURE OF .... https://blog.geniouxfacts.com/.

(4) “genioux facts”: The online program on "MASTERING THE BIG PICTURE OF .... https://blog.geniouxfacts.com/p/about.html.

The categorization and citation of the genioux Fact post

g-f(2)1697 The 10 Most Read genioux Fact Posts of the Month (12/10/2023)

Categorization

This genioux Fact post is classified as Bombshell Knowledge which means: The game-changer that reshapes your perspective, leaving you exclaiming, "Wow, I had no idea!"

Type: Bombshell Knowledge, Free Speech

g-f(2)1701: The Juice of Golden Knowledge

GK Juices or Golden Knowledge Elixirs

References

“genioux facts”: The online program on "MASTERING THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)1701, Fernando Machuca, ChatGPT, and Bing Chatbot, December 11, 2023, Genioux.com Corporation.

The genioux facts program has established a robust foundation of over 1700 Big Picture of the Digital Age posts [g-f(2)1 - g-f(2)1700].