AI Business Weekly Roundup: What CEOs Need to Know

Welcome to AI Business Summaries, where we break down the most important trends and news shaping the Business AI world. Here’s what you might have missed over the past week.

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1. AI in Business: How to Gain A Competitive Advantage

   

Artificial intelligence may not replace your job, but someone using AI could outpace you. John Boersma, an AI strategy consultant, provided a practical guide for business leaders on how to leverage AI during an Economic Forum meeting.

While AI technology is rapidly advancing, Boersma emphasized the importance of subject-matter expertise and collaboration for successful implementation.

Key Points:

• There are three types of AI: generative, predictive, and robotics. Predictive AI offers the most value to business leaders, especially in areas like customer churn modeling.

• AI systems require a team of experts, not just a single data scientist, to work effectively. It's essential to understand the problem deeply and avoid relying on AI as a "black box."

• AI is a tool, not a replacement. Businesses should focus on using AI for productivity gains, while remaining cautious of its current limitations and biases.

• Large companies are still hesitant to deploy AI for customer-facing roles, as the technology is not yet mature enough for widespread use in these areas.