Good book recommendation: Harvard Business Review recommends must read AI trends

        Editor: Harvard Business Review

        Publishing House: Tianxia Culture

        Publication date: July 31, 2023

                In November 2022, ChatGPT, an artificial intelligence chatbot program developed by OpenAI, was officially launched. Its natural dialogue and interaction method is amazing, and it can even perform complex language tasks, including automatic text generation, automatic question answering, automatic summarization, and other tasks, making AI applications more specific and widespread, and increasing the possibility of human-machine hybrid work, greatly liberating human resources. With the comprehensive spread of AI applications, the transformation war of enterprise AI is also imminent, and the enterprises that take action first will have a great advantage.

        Artificial intelligence not only generates new working modes, but also initiates new forms of operation and business warfare, such as AI setting prices on Amazon, recommending songs on Spotify, and reviewing borrower loan qualifications on Ant Financial. The operation model driven by artificial intelligence can quickly expand scale and scope, and make learning more unrestricted. The boundaries between industries are becoming increasingly blurred, and the previous rules of business competition have completely changed.

        To accelerate the development of AI, the reconstruction of enterprise organizations and operating models is becoming more urgent. Among them, the top priority is to break down departments with clear barriers, integrate data cores, and establish connections between departments. If an organization can connect various businesses, integrate data flowing between them, and extract the value of data through analysis and artificial intelligence, it will greatly enhance its competitive advantage.

        To harness the full potential of artificial intelligence, companies must reimagine their business models and ways of working, rather than simply plugging artificial intelligence into existing processes. However, this does not mean that artificial intelligence should be fully introduced to transform the entire organization at once; Reconsidering a core business process, process, or function facilitated by artificial intelligence from beginning to end can actually achieve maximum success and trigger an organic cycle of change, ultimately creating momentum for the application of artificial intelligence within the organization.

        It is worth noting that the power of technology is like a double-edged sword, and digital business models may bring both harm and value, including risks such as privacy infringement, network security, and error messages. Especially, AI and machine learning models are inevitably biased, which may pose serious reputational, regulatory, financial, and legal threats to enterprises. Leaders must be cautious when promoting AI change.

        Nevertheless, digital transformation is still imperative. With the rapid change of digital tools, the required knowledge and skills need to be constantly updated, and organizational structures must also be adjusted accordingly. Leaders and employees should keep up with the times, view change as constant, in order to pursue Sustainability Development. In addition, AI emphasizes the complementary relationship between "humans" and "machines". Enterprises should think about the five elements of the technology field (IDEAS) in a more humane way: intelligence, data, expertise, architecture, and strategy, in order to form a powerful innovation engine. I hope that all leaders can have both foresight and speed, leading Far Eastern Group towards a smart future and "Pooling Energy to Create Intelligent Future"!

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