Organizations that move from a traditional business model to one driven by artificial intelligence (AI) often become dominating forces in their industry.
Harvard Business School (HBS) Professor Karim Lakhani reveals why and how in his critically acclaimed new book “Competing in the Age of AI” co-authored with HBS colleague Marco Iansiti.
While researching and conducting case studies with major firms, including Microsoft, Amazon, Ant Financial, Peloton and Airbnb, Lakhani and his team saw how AI-centric companies were able to break from the constraints of traditional business models to massively increase scope, straddle industry boundaries, and drive more accurate, complex and sophisticated predictions.
“What we’ve seen in the top firms in the world is that AI, analytics and networks are the core of the firm and what they do in terms of their business model and operating model comes from this core,” says Lakhani, who advises organizations on how to transition to an AI-first model. “Our book is not just about platforms or digital transformation, but about a wholesale change in how you define and build or rebuild a company. It’s about how artificial intelligence is changing the landscape of business and the nature of companies.”
Any Company Can Unlock AI’s Superpowers
Through advisory roles with established companies and AI-first startups, interactive workshops and keynotes, Lakhani helps companies “rearchitect” their businesses so they can leverage all that AI and analytics have to offer. His AI Bootcamp workshop is particularly popular among companies looking to compete in an era increasingly driven by algorithms, machines and digital networks.
Co-founder and co-director of the Laboratory for Innovation Science at Harvard (LISH), Lakhani goes beyond teaching firms how to transition for success to showing workers at every level of an organization – from the C-suite to the front lines – how to think about AI and strategy and what it means for their careers and for the future.
“Some organizations think machine learning is about superhuman powers that are the exclusive domain of companies like Facebook, Google and Microsoft,” says Lakhani. “The fact is, the AI-first business model is easily accessible to any company. Once they rethink their processes and organize differently, they will see that superpower is available to them too.”
AI Bootcamp: Transforming Your Business and Operating Model
Over the past decade, advances in AI have rapidly moved from university and corporate laboratories to large-scale implementation in a range of industries. AI and its related technologies have generated new competitors and enabled tech giants to straddle multiple industry sectors.
During this workshop, Lakhani teaches effective strategies for capitalizing on AI technologies, from business models and organizational design to workforce management, competitive strategy and innovation processes. He also shows participants how to leverage advanced computational technologies so their organization can massively increase value, scope and scale, allowing them to better compete with companies who are already leveraging the best of what AI, analytics and networks have to offer.
