Tuesday, January 30, 2024

g-f(2)1910 Navigating the Generative AI Frontier: Lessons from Decades of Struggling for ROI

 


genioux Fact post by Fernando Machuca and Claude


Introduction


Rapid advances in generative AI models like ChatGPT and image/video synthesis promise immense potential to transform workflows but also pose risks if deployed irresponsibly, necessitating careful change management.



genioux GK Nugget


"Proceed, but proceed carefully - get parts of your organization experimenting with generative AI to identify big wins that are safe and won't hurt your reputation." —  Fernando Machuca and Claude



genioux Foundational Fact


While generative AI promises to automate tedious tasks and boost employee productivity enormously, decades of struggles to gain business value from earlier AI highlight pitfalls like lack of quality data, missing integrations, and inadequate change management that organizations must proactively address.



Top 10 Relevant genioux Facts



  1. Generative AI's ability to fabricate convincing content requires safeguards like human validation loops before deploying for sensitive use cases.
  2. Personalization through customer data and segment insights can make outputs more relevant.
  3. Prompt engineering strategies utilizing frameworks like Porter's Five Forces better target organizational needs.
  4. Structuring interfaces, cloud APIs and end-to-end systems support adoption by non-technical staff.
  5. Responsible oversight balances productivity gains with ethical risks of automating certain human roles.
  6. Gradual experimentation identifies the most impactful applications while managing uncertainties during technology shifts.
  7. Change management remains vital as responsibilities between humans and AI evolve over longer timeframes.
  8. Complementing specialized human skills with AI's data processing capacity can unlock the most business value.
  9. Societal pressures around job impacts may constrain the pace of automation penetration.
  10. Continual skill-building around emerging technologies equips younger generations for unknown future roles.



Conclusion


While generative AI's potential applications are nearly endless, capturing its immense value requires carefully crafted strategies addressing change management, ethical risks, execution viability, and uncertainty during this time of rapid evolution.



REFERENCE

The GK Video


INSEADPeter ZemskyUnlock Business Value with GenAI w/ Peter Zemsky, Professor of Strategy, INSEAD, Jan 16, 2024.





Summary of Peter Zemsky (By Bing Chatbot):


Peter Zemsky is the Eli Lilly Chaired Professor of Strategy and Innovation at INSEAD¹. He served in the school’s leadership team from 2010 to 2023, including a decade as Deputy Dean and Dean of Innovation¹. He brings deep, multifaceted expertise in innovation strategy to his activities as an educator, researcher, and institutional leader¹.


Zemsky is particularly passionate about business strategy in the face of disruption, including how to drive business value from advances in digital and AI technologies¹. He directs/teaches Strategy in the Age of Digital Disruption, Business Strategy and Financial Performance, and the Chief Strategy Officer (CSO) Programme¹.


As Dean of Innovation from 2013 to 2023, he led the development of a wide range of EdTech innovation including immersive VR cases and the INSEAD Learning Hub app¹. He also oversaw the school’s physical entry into North America through the design and execution of its distinctive San Francisco Hub for Business Innovation¹.


Zemsky is a pioneer in the value-based approach to strategy analysis that characterizes firm performance in terms of value creation and value capture¹. His research develops rigorous mathematical treatments of fundamental strategy phenomena¹.


Zemsky is a dual US-French citizen². He joined INSEAD as an assistant professor in 1994² and has been a visiting professor at the Wharton School of the University of Pennsylvania². He earned a bachelor of arts degree in economics from the University of Pennsylvania and a PhD from the Stanford Graduate School of Business².


Source: Conversation with Bing, 1/30/2024

(1) Peter Zemsky | INSEAD. https://www.insead.edu/faculty/peter-zemsky.

(2) Peter Zemsky - Wikipedia. https://en.wikipedia.org/wiki/Peter_Zemsky.

(3) Peter Zemsky - Wikiwand. https://www.wikiwand.com/en/Peter_Zemsky.

(4) Peter Zemsky | INSEAD Publishing. https://publishing.insead.edu/author/peter-zemsky.



Summary of Peter Zemsky (By Bard):


Academic and Professional Background:



Key Interests and Expertise:


  • Economics of strategy: Applying economic principles to analyze and develop successful business strategies.
  • Disruptive technologies and digital innovation: Understanding the impact of emerging technologies on businesses and developing strategies to adapt and thrive.
  • Value creation and capture: Helping companies identify and capture value in changing environments.
  • Personal digital transformation (PDT): Advocating for individual growth and continuous learning to adapt to the digital age.
  • AI and business strategy: Exploring the potential of AI to enhance business performance and create positive change.


Areas of Influence:


  • Educator: Zemsky inspires future generations of business leaders through his teaching and mentoring activities.
  • Thought leader: His research and publications contribute to the field of business strategy and digital innovation.
  • Institutional leader: He played a pivotal role in shaping INSEAD's approach to innovation and technology adoption.


Overall, Peter Zemsky is a prominent figure in the business strategy and digital innovation landscape. His academic background, professional experience, and thought leadership contribute significantly to the advancement of knowledge and practice in these areas.



The categorization and citation of the genioux Fact post



Categorization


This genioux Fact post is classified as Breaking Knowledge which means: Insights for comprehending the forces molding our world and making sense of news and trends.



Type: Breaking Knowledge, Free Speech


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References


genioux facts”: The online program on "MASTERING THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)1910, Fernando Machuca and Claude, January 30, 2024, Genioux.com Corporation.
 
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