If your Board or Executive Management asks you to lead the development of AI strategy in your firm, relax because Tekedia and Blucera’s Enterprise AI Consulting has provided a framework which can help you.
The first is to understand the vectors which AI must influence and improve in that business. We note: customers, employees, technologists, and partners/suppliers. And all must be powered from the same stack (AI centricity).
When you have that clarity, the next is to know the pillars which must be TRANSFORMED, not just being run by AI. Here are the pillars: people, processes and tools. If you want success in an AI project, to bring transformation, those three pillars must be impacted.
Remember, it is not about the technology, the focus is innovation and business transformation to enable your firm to fix frictions in the market more efficiently. And that means you must look into the adoption post deployment. Nigeria’s older banks used computers (they RAN with IT) but the new generation banks TRANSFORMED banking when they linked their branches with IT, making it possible in the early 1990s for anyone to operate a bank account irrespective of where the account was opened.
Indeed, AI must Transform, not just run your firm. As that happens, it is about the one oasis and double play strategy* because an AI-native transformed firm must necessarily have a new business model. If AI has not transformed your business model, you have not done AI right! But when business models evolve, value capture positioning changes. How do you handle that? You look for the firm’s one oasis and then see where to capture financial benefits through the double or multiple plays.
Simply, what makes your firm popular must not necessarily be what makes it the most money. Amazon is known for ecommerce but the rainmaker is AWS, but AWS will not exist without the ecommerce unit.
*The One Oasis and Double Play strategy, developed by Ndubuisi Ekekwe in the Harvard Business Review , is a business model focused on identifying a company’s best product or service (the “One Oasis”) and then using its success to strategically expand into new, related markets (the “Double Play”). The “One Oasis” is a dominant product that provides exceptional value, and the “Double Play” leverages its strong reputation and customer base to create new revenue streams and a competitive advantage, leading to a virtuous cycle of growth and resilience.
We’re transformers >> evolving artificial intelligence to enterprise-industrial intelligence. Let us speak to your board or management here
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