How to succeed with an AI-first strategy?

Q2 Business, Management and Accounting

Journal of Business Strategy Pub Date : 2023-11-17 DOI:10.1108/jbs-08-2023-0178

Mika Ruokonen, P. Ritala

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Abstract

Purpose The purpose of this paper is to identify the potential and the challenges for different firms in adopting an AI-first strategy. The study attempts to discern if any company can prioritize AI at the forefront of their strategic plans. Design/methodology/approach Drawing from illustrative examples from well-known AI-leaders like Netflix and Spotify, as well as from upcoming AI startups and industry incumbents, the paper explores the strategic role of AI in core business processes and customer value creation. It also discusses the advent and implications of generative AI tools since late 2022 to firms’ business strategies. Findings The authors identify three types of AI-first strategies, depending on firms’ starting points: digital tycoon, niche carver and asset augmenter. The authors discuss how each strategy can aim to achieve data, algorithmic and execution advantages, and what the strategic bottlenecks and risks are within each strategy. Originality/value To the best of the authors’ knowledge, this paper is the first to systematically describe how companies can form “AI-first” strategies from different starting points. This study includes actionable examples from known industry players to more emerging startups and industrial incumbents.

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如何成功实施人工智能优先战略？

目的本文旨在确定不同公司在采用人工智能优先战略方面的潜力和挑战。本研究试图确定是否有公司能将人工智能作为其战略计划的首要任务。设计/方法/途径本文借鉴了 Netflix 和 Spotify 等知名人工智能领军企业以及即将成立的人工智能初创企业和行业现有企业的实例，探讨了人工智能在核心业务流程和客户价值创造中的战略作用。本文还讨论了自 2022 年末以来人工智能生成工具的出现及其对企业业务战略的影响。研究结果作者根据企业的出发点，确定了三种类型的人工智能优先战略：数字大亨、利基雕刻者和资产扩增者。作者讨论了每种战略如何实现数据、算法和执行优势，以及每种战略的战略瓶颈和风险。原创性/价值据作者所知，本文是第一篇系统阐述企业如何从不同起点形成 "人工智能优先 "战略的论文。本研究包含了从已知行业参与者到更多新兴初创企业和行业现有企业的可操作实例。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Business Strategy Business, Management and Accounting-Management Information Systems

CiteScore

4.50

自引率

0.00%

发文量

期刊介绍： The Journal of Business Strategy publishes articles with a practical focus designed to help readers develop successful business strategies. Articles should say something new or different and may propose a unique perspective. They should not offer prescriptions to CEOs on how to manage, but rather be directed toward middle and senior managers at companies of all sizes and types, as well as consultants and academics who want to think about their businesses in new ways. Coverage: As one of the few journals dedicated to business strategy, JBS defines strategy in the broadest sense and thus covers topics as diverse as marketing strategy, innovation, developments in the global economy, mergers & acquisition integration and human resources. We have a penchant for substantive, provocative and well-written articles. We also like to break the mould and include articles on topics readers are unlikely to find in other business publications.