"If I had asked people what they wanted, they would have said faster horses.”
A quote that is most often attributed to Henry Ford, and although unclear when/where he said it, the underlying insight is true.
Most people can envision incremental progress, but it takes visionary thinking to imagine an entirely new way to solve a problem. Henry Ford designed products and experiences for people – he designed a new way for them to get from A to B - that they didn’t know they needed.
We are already seeing that every business will use Gen AI to enhance their existing processes to make productivity gains, but the companies that adopt an AI & design first design mindset can innovate in ways that change the world. And there is nowhere more perfect for this alignment and strategic integration than in the creation of new digital products and services, powered by Gen AI. It goes beyond the optimisation of existing processes; it opens doors to new possibilities and ways of thinking. Just like Ford.
By harnessing the potential of AI in driving product development and fostering innovation, companies can anticipate and respond to their customers - answering needs they didn’t realise they had. With the help of Gen AI, product teams can identify patterns and trends in customer behaviours, streamline ideation, accelerate speed-to-market, and develop dynamic products and hyper-personalised experiences that delight their employees and customers. All of which engender affinity and trust, leading to incredible customer advocacy.
This week the IBM Institute for Business Value launched its 14th CEO’s Guide to Generative AI, on digital product engineering. It is a must read for any organisation wishing to embrace this strategic integration to stay ahead in today’s rapidly evolving market landscape.
https://lnkd.in/eAPrM5Ej
#genai #ai #productengineering #ibmconsulting IBM IBM Consulting
Business Growth Strategy, Digital Transformation, Talent Development
1yLot depends on who's driving the Data Strategy. Businesses have generally mastered Data Modeling and all that happens in the downstream at the systemic level. But most find it tough with "Data Convergence" for creating value for targeted customers, positioning it for monetization and, well, fending off competition (Offensive data Vs Defensive Data). Pretty helpful insights. Thanks for sharing!