Three Approaches for Businesses to Avoid Being Overtaken by AI

To avoid being overtaken by AI and remain competitive in an increasingly automated world, businesses should adopt strategies across three time horizons, each addressing different aspects of AI adoption and adaptation:

1. Rapid Response (for the next 12 months): In the short term, businesses need to take proactive measures to shield their operations from the profound disruptive influence of AI. For example, companies can take legal steps to ensure that AI models aren’t stealing their intellectual property by filing for patents or trademarks to protect their proprietary algorithms and data. Companies can also educate political representatives about the technology and the need for protective regulations, which will help them gain support from lawmakers and prevent the misuse of AI. Lastly, companies can get their message out to start owning the narrative about AI by using social media platforms to communicate their vision and goals for AI.
2. Core Business Innovation (strategic response for the next 3 years): In the medium term, businesses should focus on applying AI to their core processes, seeking to add value to both the front-end and back-end of their business. For example, companies can use AI-powered chatbots to improve customer service, automate repetitive tasks such as data entry, or optimize supply chain…