Generative AI is here, Now What? Choosing the Right Strategy and Business Model in the New AI Age

More than 30 persons came to listen to Paavo live and online more than 100 joined the seminar! This topic do engage a lot of people and we are happy that Paavo shared his insights with us!

The key question of the presentation was whether and how can firms and entrepreneurs seek strategic advantage using generative AI. We all wished that there would be a simple answer to this question of course, but Paavo told us that´s not the case. Professor Ritala  says that part of the challenge is the general-purpose nature of AI and large language models. They are so widely accessible that it is difficult have "better AI" than other firms. But it's not impossible to have "better AI". The trick lies in better execution, better data, better embedding of the AI in the organization. Or in other words, using AI to better utilizing the things that you are anyway good in, as suggested by Jay Barney in his latest HBR article with Martin Reeves. Paavo shared a link to a cool podcast on this article, you might want to listen to it.

Paavo have through his own research found several ways in which companies build AI-based advantage. For instance:

🔷 Industrial firms, over time, build AI capability by progressively learning how to optimize and scale their process data: https://lnkd.in/dWn9Tb9B🔷 Firms can find market niches and unique advantages by combining data, algorithms, and execution: https://lnkd.in/gG2uR2Cb🔷 Professionals in creative and knowledge industries can supercharge their own productivity and develop unique ways for human-AI augmentation: https://lnkd.in/ghKmqgZs