The Transformative Impact of AI on Business

The integration of Artificial Intelligence (AI) into business processes is rapidly reshaping how organizations operate. A recent workshop, "AI for Innovation," hosted by Nova SBE Innovation Ecosystem as part of The Innovation Circle, shed light on the challenges and benefits of incorporating AI into modern business practices.

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Embracing AI as an ally

Marlene Gaspar, General Manager of LLYC Portugal, emphasized that AI is already changing the status quo of work environments. While teams are still acclimating to new tools and methodologies, AI is increasingly viewed as a complement to human efforts rather than a replacement. The excitement surrounding AI stems from its ability to boost productivity and provide novel solutions, creating a positive mix of emotions that empowers employees to perform their jobs more effectively.

In the realm of communication, AI has proven to be a powerful tool for amplifying messages and unlocking previously unavailable capabilities. During the workshop, Marlene Gaspar highlighted how AI enables the creation of advertisements with different voices for various markets, showcasing its potential to revolutionize global marketing strategies.

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From scarcity to abundance in innovation

Rui Coutinho, Executive Director of Nova SBE Innovation Ecosystem, argues that AI is fundamentally disrupting the nature of innovation within organizations. He identifies two major dimensions transforming the innovation landscape:

- Shift from scarcity to abundance: Traditionally, innovation processes managed scarcity, working with limited solution ideas. AI shifts this paradigm to abundance, generating hundreds of potential solutions. This transition changes the critical competence in innovation from idea generation to decision-making and critical analysis.

- Focus on problem definition: As AI takes on the role of creative solution generation, human creativity becomes more valuable in defining the right problems to solve. Coutinho emphasizes that this shift requires humans to become more adept at identifying core issues, while machines generate potential solutions.

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Redefining innovation processes

The integration of AI into innovation processes will require /requires several changes in organizational structure and approach:

- Data-centric approach: There is no artificial intelligence without data. Mastering data management and information architecture becomes fundamental to the innovation process.

- Diverse team composition: Innovation teams now require a broader range of expertise, including data scientists, AI specialists, and technologists. Rui Coutinho also highlighted the importance of incorporating AI assistants like Siri, Cortana, Alexa, ChatGPT, Gemini, and Copilot into team dynamics.

- Human-AI Collaboration: The future of innovation lies in the synergy between human experts and AI assistants, focusing on tasks that cannot be fully automated.

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Preparing for the AI-driven future

To successfully navigate this AI-driven transformation, organizations should adopt a three-pronged approach:

- Embrace experimentation: Encourage teams to explore AI tools, understanding that errors are an integral part of the learning process.

- Focus on upskilling: Identify which functions can be automated by AI and prepare employees for the necessary "unlearning" and reskilling.

- Leveraging AI for enhancement: View AI as a tool to augment human capabilities and improve overall performance, rather than a threat to human roles.

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The power of Generative AI

Generative AI (GenAI) is transforming industries, sparking innovation, and shaping the future of technology. By viewing AI as an ally, businesses can harness its power to drive innovation, enhance communication, and maintain competitiveness in a rapidly evolving technological landscape.

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Three compelling reasons to invest in a GenAI program

Whether you're a tech enthusiast, a professional looking to upskill, or a business leader seeking to stay ahead, attending a GenAI program can be a game-changer. Here are three key reasons to invest in such a program:

- Cutting-edge knowledge and skills: GenAI is at the forefront of technological advancement, with applications ranging from creative content generation to advanced problem-solving. Participating in a GenAI program provides hands-on experience with the latest tools, algorithms, and frameworks driving innovation.

- Creative and innovative applications: GenAI has the potential to fuel creativity and innovation across various fields. From developing AI-generated art, writing, or music to designing systems that simulate human-like interactions, a GenAI program equips participants with the tools to bring their ideas to life and explore new entrepreneurial opportunities.

- Accelerated productivity: AI offers faster and more effective ways to generate content, whether it's images, photographs, videos, or copy. By streamlining processes and enhancing efficiency, AI can significantly contribute to rapid and successful product launches.

At Nova SBE Executive Education, a comprehensive portfolio of programs dedicated to Artificial Intelligence has been developed to prepare executives for the future of work. Investing in AI training is not just beneficial but essential for future-proofing skills and ensuring organizational success in an AI-driven world. By embracing these educational opportunities, professionals and organizations can position themselves at the forefront of the AI revolution, ready to leverage its full potential for innovation and growth.

To find out more about Nova SBE's AI offer, watch the video: