3. Disrupt yourself
That’s both on an individual and organisational level.
If an organisation isn’t already thinking about disrupting their own business models, they are likely to be left behind.
If individuals aren’t considering how they might upgrade themselves constantly, they too, will very quickly become outdated.
Organisations don’t have to invest heavily to start deploying AI. There are many cloud-based options available. For example, if you can’t afford a data scientist or analyst, then marketplaces like Experfy are available to you.
Which brings us to Amin Toufani’s talk on digital twins and exponential business models, which was especially enlightening.
By being able to create a virtual twin of say a process, a set of behaviours, physical activities, or product parts (e.g. a jet engine), organisations can disrupt and grow.
Using telematics in cars has enabled the insurance industry to understand driver behaviours and dynamically price their products based on this behaviour.
Toufani foresees that over time, most industries will be disrupted and are likely to become technology companies that provide a product or service rather than a retailer or insurer for example.
He warned that, “the vast majority of companies think they are at the centre of the universe”, though with the advances in AI and machine learning, that attitude is held at their peril.
Individuals need to be proactive, however organisations have a responsibility here (Amazon is already upskilling their teams to work with AI). Another speaker, Adam Medros argues that companies should see this development as a CSR initiative.
How willing are organisations and their top leaders to go here? How much leadership development is focused on unpacking your deep beliefs and helping you shift them if need be?
What is your disruption quotient? – Charlene Li