AI: One more distraction on strategy execution!

The key to successful strategy execution is to step away from the daily distractions and instead focus on actions that truly create value for customers and shareholders, directly impacting the company's strategy. This should be the top priority for any CEO.

Managers are often pulled in many directions due to various distractions such as politics, economics, HR policies, technology trends, lack of leadership, and internal conflicts within the organization. The emergence of Artificial Intelligence has only added to this list of distractions.

A study by The Economist revealed that companies implementing AI beyond basic experimentation are utilizing generative AI for specific tasks. Examples include ADP, Verizon, and Starbucks. However, the actual impact of AI has not lived up to the grand expectations set by AI enthusiasts.

The key to realizing the potential of AI lies in its widespread adoption. While AI is already a part of our daily lives through platforms like Google and music streaming services, its integration into business applications and productivity enhancements is progressing at a slower pace.

Given the importance of focus for company success, it's crucial that experienced senior managers carefully evaluate the role of AI. It should be approached as an additional effort, with a separate scope, and tested as a minimum viable product to demonstrate its positive direct impact on strategic actions.

Source: The Economist - "What happened to the artificial-intelligence revolution?¨ So far the technology has had almost no economic impact.