Although many companies focus on maintaining the status quo with the experience, equipment, and capabilities they have acquired, (even though they are busy putting out fires), it is clear that in today’s and the near future’s reality, they can only preserve their existence with a completely different way of thinking and working. In this context, it has become a vital factor for companies to intelligently plan their workforce with technology and artificial intelligence and strengthen their adaptation skills. However, their awareness of WHY they need to do this is far from maturity. In this sea of uncertainty, the answer to HOW is also a huge question mark for them, and it is natural for them to resist change due to the fear of losing the status quo.
For businesses to sustain their existence, all of their activities must be execution-oriented. There are three key pillars to ensuring an execution-focused approach: Strategy, People, and Operations. While there are certain meanings and contexts that link these three, each one is equally important. If any one of these three is lacking or insufficient, the company will drift away from its execution focus.
Your Gains in the Value Chain
1. Competitive Advantage: Artificial intelligence provides companies with flexibility and speed, offering the opportunity to compete with larger firms.
2. Data-Driven Decision Making: AI-powered processes enable companies to make more accurate predictions and adapt to rapid market changes.
3. Customer Experience: AI predicts customer demands and responds quickly, enhancing customer satisfaction.
4. Critical Functions: AI accelerates value/supply chain processes and increases efficiency, providing companies with a cost advantage.
5. Resource Management: AI optimizes inventory management and logistics processes, reducing costs and improving resource usage.
6. Employee Experience: AI provides speed, ease, and added value to employees’ workflows. Instead of spending time on low-value tasks, they can focus on higher-value work, leading to professional satisfaction. This positively impacts employee satisfaction and engagement.
7. Profitability: By making processes smarter and faster, and by optimizing resources in a cost-effective manner, profitability increases.
8. Transparent and Sustainable Processes: AI ensures transparency and sustainability in the value/supply chain, enhancing reliability.
AI Strategy Options for Companies
Every company will have an artificial intelligence strategy in the future! There are three approaches to consider:
1. Buy: Purchasing AI software and APIs.
2. Build: Developing AI applications within the organization and forming an internal team.
3. Partner: Partnering with expert organizations in case of a lack of AI capabilities.