In their article “How Generative AI Reshapes the Business Landscape”
Professor Alva Taylor and Patrick Wheeler of the Tuck Glassmeyer/McNamee Center for Digital Strategies argue that most organizations are not prepared for the challenges brought on by platforms such as ChatGPT.
Opportunities for business include:
- Marketing: ads, email campaigns, and social media posts
- Software Development: new product development and software code
- Customer Service: answer customer questions and resolve complaints
- Operations: automate tasks and optimize supply chains
- Strategy: analyze market trends, predict consumer behavior, and suggest strategic moves
Challenges for business include:
- Realistic synthetic media or “deep fakes”
- Framing the correct questions
- Effectively interpreting suggestions from AI and making decisions aligned with organizational values
Two Take-Aways
- AI systems are continually getting better
- Generative AI is a tool to free up individuals, managers, and organizations to focus more of their efforts on high-value creation activities
