Kelly Manthey, Global CEO of Kin + Carta, discusses the current divide in the business world regarding generative AI and the evolution of technology. There are two camps emerging – the AI utopians and the AI dystopians. Both sides fear the unknown and the uncontrollable aspects of AI, but the truth lies somewhere in between. Manthey draws parallels to past technological transformations such as cloud computing and emphasizes the need for education and strategic planning in order to navigate these changes successfully.
Manthey reflects on her experience at the forefront of technology during the rise of cloud computing, highlighting the importance of educating oneself about new technologies and identifying opportunities for growth. She stresses the need for businesses to take a hands-on approach to AI, working with the right partners and expert guidance to align strategy with business vision and operational objectives. By accumulating practical know-how at the board level, companies can better understand the potential of AI and its impact on their organization.
In order to leverage AI effectively, businesses must first understand their data sets and lay a strong foundation for its implementation. This involves analyzing organizational data, determining ownership and governance, and developing a long-term strategy for AI integration. Manthey compares this process to building a house, emphasizing the importance of planning and preparation before diving into implementation. By starting with a comprehensive view of data assets, businesses can identify AI use cases and address challenges as they arise.
Once a strong data foundation is in place, the next step is to seize the opportunity and harness the power of AI to drive effectiveness. Manthey acknowledges the skepticism surrounding AI in the business world and the lack of compelling use cases that grab headlines. However, she counters this narrative by highlighting the operational advantages and backend applications of AI that are making a tangible difference in business success. AI is a key component of ongoing digital transformation efforts, and leaders must take action to lead by example and usher their organizations into the next stage of development.
Ultimately, regardless of whether one is utopian or dystopian in their outlook on AI, the imperative now is to dive in with the knowledge that the organizational groundwork has been laid and with the right partner to help reap the benefits. Businesses must embrace AI as a tool for growth and innovation, leveraging its capabilities to stay ahead in an increasingly competitive market. By staying informed, strategic, and proactive, companies can navigate the evolving technological landscape and position themselves for success in the digital age.
