Houston, TX - Organizations face increasing internal, external operational, and strategic complexities in today's volatile and ambiguous business landscape. While artificial intelligence (AI) is often seen as a source of uncertainty for decision-makers, it is also being promoted as a solution to numerous challenges.
In this podcast, Dr. Rich explored the essential idea that every business should have an AI strategy. This doesn't imply that AI needs to be implemented broadly across all organizations; rather, it emphasizes the importance for team and senior leaders to formulate plans regarding how and when AI will be utilized.
Clear communication with both internal and external stakeholders is vital to safeguard the organization and potentially advance business objectives.
Assessing the risks and opportunities associated with AI is crucial. He discussed the Making AI framework of Truth, Beauty, and Justice to ensure that AI initiatives are not only accurate in their intentions but also rich in detail and explainability and employed ethically and responsibly.
Finally, as companies consider their next steps with these technologies, he emphasized the importance of building on their current position in the AI journey to maximize the benefits of future advancements.
Dr. Richard also highlighted managing uncertainty by using Bayesian thinking which is about updating beliefs based on new evidence. It’s named after Thomas Bayes, an 18th-century mathematician. At its core, Bayesian thinking means:
You start with what you already believe (your prior), observe new evidence, and then adjust your beliefs accordingly (posterior).
It recognizes that knowledge is fluid and changes as evidence emerges.
In leadership and decision-making, Bayesian thinking can be transformative. Instead of locking into rigid beliefs or reacting impulsively, you continually recalibrate judgments based on the evolving situation and face uncertainty.
Join us in navigating these critical discussions and help chart a path forward in the evolving world of AI. He further recommended the knowledge noted below.
a) Microsoft AI Strategy Roadmap https://www.microsoft.com/en-us/microsoft-cloud/blog/2024/04/03/the-ai-strategy-roadmap-navigating-the-stages-of-value-creation/
b) Rich Timpone blog/newsletter- Truth, Beauty, Justice AI https://www.linkedin.com/newsletters/7239987266679439360/
c) M. Aslam Mirza's blog on communications https://www.linkedin.com/pulse/communication-enablers-moving-business-present-time-aslam-mirza-vadmc/
Dr. Richard Timpone: https://www.linkedin.com/in/richard-timpone-ph-d-255207b/ M. Aslam Mirza: https://www.linkedin.com/in/muhammad-aslam-mirza-405384/
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