Day #6 Grayleap Reading Challenge #Streaks #Leadership #AI
1) Leaders Eat Last (Author Simon Sinek) - Review of 6th chapter by Rajesh Madan
2) Leveraging Artificial Intelligence For Business Success (Author Vishal Singhal) - Review of 5th chapter by Amarendra S.
1) LEADERS EAT LAST - REVIEW OF 6TH CHAPTER BY RAJESH MADAN
This is the section where the author reveals the importance of "selfless" chemicals (Serotonin and Oxytocin) for effective leadership.
Serotonin is the leadership chemical. It is what makes us feel good of our accomplishments. A degree would still be as valuable if it was sent by mail?with a downloadable attachment. But we have elaborate graduation ceremonies with our loved ones in attendance. The purpose is to give us the rush of serotonin that infuses the new graduates with a sense of pride, confidence and status as they walk to the stage to collect their degree. The best part is that it's not just the students who feels the rush of serotonin, it's also their parents and family members in the audience.
Similarly a marathon runner can technically achieve the same result if he or she ran alone over a weekend. But running a marathon with other runners and thousands watching injects a whole new sense of purpose and accomplishment to the same act.
Oxytocin is the love chemical. It is the feeling that we get when we are in the company of our closest friends or trusted colleagues. It is the feeling we get when we do something nice for someone (or even when someone does something nice for us). No oxytocin would mean no acts of generosity and no empathy, no raising of children and no building of businesses.?
For our prehistoric ancestors, as well as social animals, our sense of longing and confidence that we can face the dangers around us literally depends on feeling safe in a group. This is what oxytocin enables.
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2) LEVERAGING ARTIFICIAL INTELLIGENCE FOR BUSINESS SUCCESS - REVIEW OF 5TH CHAPTER BY AMARENDRA SRIVASTAVA
One of the common barriers to AI adoption is figuring out how to begin. The 5th chapter is titled "Finding a Starting Point." The chapter shares various characteristics of a "strong AI project" and lists several use cases. Many illustrative application areas are listed for HR, Finance and Sales.
Beginning small with AI is recommended by many experts. It is safe and inexpensive to test AI in small areas first to see how it works before advancing it to more complicated business processes. An HBR article, "How to Pick the Right Automation Project," suggests:
"Instead of framing your goals in terms of quick victories (which won't really move the needle) or major strategic applications (which require skills and foundations you don't yet have in place), focus on how your first steps will advance capability-building in your organization. You should sequence the projects you take on — knowing you will ultimately take on hundreds — so that the early ones build the AI talents and put in place the AI tech infrastructure for the projects you will take on next, and next, and next."
This indicates that the actual game is to build capacity in the organization to execute AI-based projects. That said, you still need to choose your starting projects. Greg Bigos, in his post "Finding the AI 'Low Hanging Fruit' Inside Your Organization" has identified nine use cases for AI that get you some quick wins: Customer Churn Prediction, Inventory Optimization, Document Processing, Customer Lead Prioritization, Demand Forecasting, Product Recommendation, Employee Retention Forecasting, Predictive Maintenance and Production Line Quality Control.
Coming back to the book in review, the author shares, "AI is automation on steroids ... it is good at automating tasks, rather than jobs." One of the critical steps for successful AI implementation is to conduct thorough technical feasibility and due diligence on expected business value. If that is taken care of, your business is set to take full advantage of the AI-steroids.
References:
1) https://hbr.org/2022/02/how-to-pick-the-right-automation-project
2) https://www.f33.ai/post/finding-the-ai-low-hanging-fruit-inside-your-organization