The Self Driving Car is the precursor to the Self Driving Company.
Scott Newton
Managing Partner, Thinking Dimensions ? LinkedIN Top Voice 2024 ?Bold Growth, M&A, Strategy, Value Creation, Sustainable EBITDA ? NED, Senior Advisor to Boards,C-Level,Family Office,Private Equity ? Techstars Lead Mentor
What does it mean for your company and career?
Industries are embracing and investing in new capabilities for Autonomous Decision-Making.
The self driving (autonomous) car is between 3 and 10 years away from commercialization.
Companies including Uber are investing big sums of money to make this happen.
People including my wife dream of the day when they can spend driving time on something more productive.
Now that we can build a self-driving car, what about a Self Driving Company?
The implications to industry are significant.
Jobs that completed by teams of people will be partially or fully automated.
MIT have identified IT, Supply Chain, Marketing, and Sales where advanced artificial intelligence is used today.
Companies including IBM, Oracle, SAP, and Salesforce are deploying autonomous decision-making technologies for:
- Improving accuracy
- Increasing sales
- Reducing costs
- Generating leads
- Managing the maintenance of complex large databases without human intervention.
Now let us consider the example of airports.
Bernard Marr is an author specialized in the Future of Artificial Intelligence. He recently published an article on how the Dubai International Airport (ranked as one of the top five airports worldwide for both passenger traffic and customer satisfaction) is using AI and ML in six different areas front and backend to increase customer satisfaction and reduce costs.
What this means for your business and your career.
Your board and leadership team need to be having strategic discussions now.
"What does this mean to the future of the company?"
AI is a significant strategic shift that will change the nature and direction of most firms.
In Your career the time to invest in learning and capabilities is now.
You do not want to be left behind in this fast changing environment.
Your company success is depending on how well you and your team can develop and deploy new skills.
Ask the hard questions about what you will do with:
- Artificial intelligence
- Machine learning
- Robotic process automation
- Autonomous decision making.
Scott Newton, Managing Partner, Strategy, M&A, Thinking Dimensions
Scott.... interesting idea of a self driving company... but i can hardly imagine how it can be...
Team building Expert | LinkedIn Top Voice | Forbes featured | I help executives manage change, foster innovation, & boost their bottom line ???? ???? Actress ?? Writer ?? ???
5 年This is definitely one of the latest innovations. I'm ver nervous about using them though.?
Digital & Cloud Strategy | Tech Solutions | CFO Advisory (CPG, Retail, Life Science & Healthcare)
5 年Great topic. If you think of existing solutions and a FULLY optimized business which is rare across the enterprise you could envision a large MNC operating with a very small group of corporate and local maintenance to maintain systems and intake teams to maintain inputs to automated robotic production systems. Much easier in some industries than others (i.e. Financial services versus process manufacturing). I still search for the perfect example of a fully optimized business as most have a bell curve of maturity across the enterprise so its never fully advanced. 1. Full digital transformation 2. Full Finance transformation 3. Management by exception <-- RPA & Workflows 4. AI based decision making <-- systems tell you what to do 5. Automated closed process & Journal entries 6. Optimized reporting in the cloud and fully connected (updated real-time).. 7. Portals and Automated PO's. 8. Fully automated WMS,etc. The list goes on but you could envision a skeleton crew of Corporate and facilities based production and IT maintenance teams keeping the business flowing you could basically receive in automated orders of raw materials, produce robotically, and ship without human intervention. I've never seen it in one place, but I've seen all of the pieces in various companies.
Managing Partner, Thinking Dimensions ? LinkedIN Top Voice 2024 ?Bold Growth, M&A, Strategy, Value Creation, Sustainable EBITDA ? NED, Senior Advisor to Boards,C-Level,Family Office,Private Equity ? Techstars Lead Mentor
5 年Companies mentioned in this article include Uber?, IBM?, Oracle, SAP, Salesforce, Emirates, and Dubai Airports. Research cited:?MIT Sloan Management Review. Dubai Airport article linked to authored by?Bernard Marr. Photos taken at CHINAPLAS 2020?and London Business School
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5 年Scott, let's bring the concepts of self-driving companies to their logical conclusion - humans won't be needed, or only used in lowly tasks like interacting with other, highly illogical humans, which the almighty AI can't be bothered with. Autonomous AI can even take over the functions of the Board. Any human board members will only be there because of regulatory requirements. So yes, Scott, you are right. Companies need to think through these issues around deploying AI. Automation, like fire, is a good servant, but a terrible master.