“Lightspeed is too slow. We’ll have to go right to ludicrous speed” — Spaceballs, the Movie
While the world raves about the benefits of AI, a quiet hesitation is taking place in the everyday business world. Leaders are pumping the brakes when it comes to AI adoption in their own enterprises. A recent survey showed that a majority of executives think that it will take at least two years to “move beyond the hype” around AI. Only 5% of U.S-based firms of all sizes said they used AI and a further 7% plan to adopt AI within the next six months.
So what is keeping CEOs from pulling up a chair and letting AI have a seat at the table? These mental blocks may be holding leaders back from unprecedented opportunities.
Myth #1: My Organization isn’t AI-Ready
Data issues, day-to-day emergencies, other initiatives… there will always be reasons NOT to adopt AI today. Change is a challenge, but that doesn’t mean it can’t be overcome. Breeding familiarity is the key to overcoming resistance and fear. Many individuals are already experimenting with AI such as ChatGPT or Copilot. The key to properly leveraging AI at an enterprise-level lies in building realistic expectations and diving in. AI isn’t about chasing the latest shiny object. Instead, identify areas where AI can augment existing strategies and supplement the tasks that employees repeatedly undertake. Think of AI as a tool to supercharge human capabilities, not replace them. Although headlines about the great AI takeover might earn clicks, having realistic expectations and focusing on practical tasks is where CEOs can begin to get marks in the win-column with AI.
Myth #2: AI is an IT Project
AI is technology, so why not just pass it over to the CTO to worry about? Think if the same thing was said about the internet back in the day. AI is the most important competitive tool that’s come on the market since that time. It’s a strategic game-changer and while an IT team will play a crucial role in implementation throughout a company, it needs to begin as a CEO-led initiative. AI has the potential to disrupt entire industries and some companies will be left behind by missing the adoption window. This is something that deserves leadership from the very top.
Myth #3: AI Will Magically Get Insights Out of My Data
AI can be a powerful tool, but it’s not a miracle cure for bad data. AI needs clean, accurate data to function effectively. However, AI can also help identify data quality issues. Think of AI as a facilitator that helps uncover what’s missing in company data and can accelerate the pace of improvement. So don’t believe any AI vendor that says that cleansing, mapping, and training existing data properly is not a necessary step. No one likes to talk about data hygiene because people want fast results with low friction, but nonetheless AI can help companies get their data AI-ready faster by leaning into the problem and not avoiding it.
Myth #4: Wait-and-See is the Right AI Strategy
AI isn’t a fad. It’s here to stay, and the longer a company waits, the harder it will be to integrate it into the business’s DNA. AI isn’t a button that can simply be switched on at any time to function at 100%. Quite the contrary, AI grows with its leaders and its company and takes time to mature within an environment. The more AI has the time to be nurtured and assimilate into the fiber of a company, the less likely mishaps will occur. Given the fact that companies are already starting to implement AI into the core of their businesses, it’s more a race against time now not to be left behind.
Myth #5: AI is About Chatbots and Siri-like Assistants
While chatbots and virtual assistants are a part of the AI landscape, they represent just a tiny sliver of its potential. Chat-GPT might be the first tool many people think of when they hear AI but that’s far from the end of the AI story. At its core, AI can analyze vast amounts of data, identify patterns, and, with time and learning, eventually make predictions with incredible accuracy. It can automate tasks, optimize processes, and generate creative content. There are countless use cases within an organization.
By debunking these myths, CEOs can step out of AI science fiction and benefit from the realities of its capabilities today. Exploring the full extent of opportunities to implement AI into a business is a team-wide undertaking that should continuously evolve led by firm hand of the intrepid CEO.
Super Cooper
As a decision-enabling platform for CEOs, Cooper AI’s mission is to bring the power of AI into the hands of leaders in the most important area of their job: decision-making. In order to accomplish that mission, Cooper focuses on delivering two things well. First is to wire and activate the enterprise’s data towards data-driven decision-making. Second is to provide a simple and intuitive user interface (UI) that mirrors a business operator’s decision-making process. Put these two critical elements together, and the outcome is a tool that vastly accelerates real-time access to opportunities while also feeling familiar and comfortable.
As CEOs steer their overall companies through the tremendous opportunities ahead, they can now also leverage an intuitive AI tool built specifically for them and their C-Suite: a value-accelerator designed to support and bolster daily decision-making, giving back their mindshare and energy to strategize and execute the big things that their enterprises and our world need.
Want to learn more? Check out Cooper at https://www.cooper.ai or visit Cooper’s Linkedin page.
