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The opinions expressed by Entrepreneur Contributors are their own.
Innovation does not understand corporate hierarchies and titles. I saw this firsthand when I led global innovation programs at Cisco and later advised leading Fortune 500 organizations on their AI strategy and AI roadmap. The boldest and most creative ideas always come from a select group of employees who saw a problem and had the creativity and business savvy to come up with a solution. They also had the drive, resilience and perseverance to get others to do it.
These people were not necessarily CEOs or board members. In fact, most of them are “regular” employees who are invested in their jobs and keen to make things better for all of us. these Entrepreneurs You possess the perfect combination of problem-solving skills and creative thinking with a bit of an entrepreneurial mindset – a goldmine for any organization in today’s rapidly changing business and technological climate.
Today, entrepreneurs have an unprecedented opportunity to scale the impact of their ideas and advance their careers using generative AI. Here’s how.
Related: Why embracing intrapreneurship grows innovation within your company
Making the most of generative AI as an entrepreneur
In the right hands, generative AI is poised to transform business as we know it. McKinsey estimates that the technology can trickle down 2.6 – 4.4 trillion dollars in the global economy every year. But for this to happen, companies need to change. They need to change in major ways.
Research shows at least so 40% of employees will need to be reskilled as a result of generative AI that will change the way we work. In reality, 73% Many organizations expect some form of reskilling to be necessary for all employees.
This creates an ideal opportunity for entrepreneurs to scale their efforts and become an indispensable part of the digital transformation process within their organizations. However, they first need to understand what they are working with.
Stay ready
Don’t fall prey to the illusion of truth. Just because you’re exposed to generative AI on a daily basis doesn’t automatically mean you know how to use it. In fact, most of us are still learning how to make the most of this technology.
This is because artificial general intelligence is developing at an accelerated rate. For example, while early natural language processing software in the 1960s took decades to develop, today we see AI technology making huge leaps in progress in the space of a few weeks. Not only do we now have images, text and codes generated by artificial intelligence, but a few days ago, we also saw The first short film produced by artificial intelligence.
This was unfathomable just a few years ago. The current capabilities of large language models (LLM) are unparalleled and growing increasingly. Entrepreneurs who are natural problem solvers simply cannot afford to remain uninformed in the field. You must stay up to date, and this requires constant exposure to technology and experimentation with its capabilities.
Take moral responsibility
The unprecedented opportunities of generative AI also present unprecedented challenges. Compliance and data security are crucial in this context. Before adopting any AI solutions, familiarize yourself with your organization’s internal AI governance framework. What are the limitations and best practices that the company has adopted?
Looking beyond the employer, there are also federal and state AI policies that companies should consider in order to prevent and limit any potential biases or misuse. For example, Artificial Intelligence Law issued by the European Commission It is the first ever legal framework that limits and mitigates the use of artificial intelligence in various contexts. A few years ago, Illinois also passed Video interview law, which requires employers who use artificial intelligence to evaluate video interviews of candidates to be transparent with them. There is, of course, Many other regulations that have been enacted or are being implemented that will impact how AI is used.
Keeping up with your own policies, as well as regulatory changes and recognizing potential risks with each new iteration of technology, will help you innovate in an ethical and responsible way.
Related: 10 Simple Things to Remember When Investing in Generative AI
Look for quick wins responsibly
Generative AI has been amazing at delivering quick wins. The entry threshold is so low that there has been almost unanimity across job roles to perform one task or the other. If you haven’t already, look at areas of the business where these tools can save you and your colleagues time within the confines of your company’s AI strategy.
In keeping with the previous point about ethical use, start small. For example, if it takes you 30 minutes to comb through calls and emails to prepare for your next call, AI can do that for you in minutes. Create workflows that can replicate these gains across the team. Track everything. Once you have enough data, you can use your proof of concept for company-wide implementation.
Building a coalition of the willing
The biggest gains from AI come in an interdisciplinary environment. One of the most important features of generative AI is that it has no barrier to entry. Its use of human language means that technical and non-technical teams have a unique opportunity to collaborate and innovate together in ways they couldn’t before.
Put this to good use by sharing best practices at work and within the broader AI community. Foster cross-functional collaboration where employees have open access to others to ask questions, share knowledge, and try new solutions.
Start with a clear goal in mind
No matter what gains AI brings to the table, it will be difficult to convince anyone to join it unless you have concrete data proving its value. In this context, it’s not just a question of whether generative AI can solve a particular business problem (it probably can). The question here is whether you know how to implement technology in an ethical, responsible and non-disturbing way to other business operations.
Before taking on any challenge, measure the time and effort it takes you and your team to perform a task without using AI. Then measure how AI impacts that part of your job. Do the gains justify its use? Also consider potential risks and resistance you may face from other stakeholders. Address these challenges in advance so you can implement these solutions without too many hiccups.
Related: Barriers and opportunities for generative AI in corporate workplaces
Entrepreneurs who embrace AI will become the engineers of the future. Combining their penchant for creative problem-solving with the limitless capabilities of generative AI will be the silver bullet that helps companies survive and thrive in an increasingly competitive landscape. This creates a once-in-a-lifetime opportunity for intrapreneurs to not only excel, but to move up the ranks quickly. Start small, act responsibly, and never stop learning. The rest will follow.
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