"In my lifetime, I've seen two demonstrations of technology that struck me as revolutionary. The first time was in 1980, when I was introduced to a graphical user interface... The second big surprise came just last year... I knew I had just seen the most important advance in technology since the graphical user interface."
The most important technological advance since the launch of the graphical user interface was the verdict from Bill Gates when he and the rest of the world got to experience Chat GPT for the first time in 2022. Since then, it has been almost impossible to attend a conference or open LinkedIn without hearing and reading about how artificial intelligence (AI) will turn almost everything upside down.
Economic Analysis estimates that the use of AI and digital technology can increase Norwegian value creation by NOK 5,600 billion by 2040. regardless of size or industry.
If it is to become a reality, more Norwegian businesses must get started on utilizing the power that lies in the most advanced technology of all time to create new innovation, new services and digital solutions.
In Forte Pulse 2024, the pulse of digital maturity among Norwegian and Scandinavian companies takes the pulse.
AI seeks market
According to Forte Digital's new survey, Forte Pulse 2024, many businesses are struggling with just that. The finding has been aptly named "AI seeks market" and shows, among other things, that only 42 percent use predictive analytics to predict market trends or customer behavior.
In other words, few companies manage to translate AI into business value. Artificial intelligence as a value driver thus remains on the sidelines of the business, and lacks concrete applications for innovation and revenue streams.
The survey shows that the most mature organizations are those that are able to put AI technology in the context of customer and business value. They have a clear idea of what business need AI should solve or improve, and think of AI as a cross-disciplinary exercise.
Explore problems and customer needs, not just the technology
It's hard not to get excited when you take a look at Generative AI's weekly LinkedIn updates. To put it bluntly, it can seem like AI is almost thrown at every problem in the hope that it will solve every challenge. More people should think the opposite: Start with the problem and find the tools, processes or technology needed to solve it.
"You've got to start with the customer experience and work backwards to the technology." said Steve Jobs back in 1997. So this issue is by no means new, but is good to remind you of, especially now that AI is gaining momentum.
Explore problems and customer needs, not just the technology. AI is not a magic box provided by the technology department that will immediately create business value. It is currently "only" a powerful tool that allows businesses to create customer and business value by solving problems faster, better, and in new ways.
Today, AI can be used for everything from automation and personalization to predictive analysis of customer behavior and content production. What your business can use AI for depends on business needs.
In this way, AI places new demands on creativity and innovation. Technology has never been more accessible and easier to work with. Before you jump on the AI train, you should have a clear idea of what business need or problem you want to solve or improve. Applications are more about imagination and creativity than technological possibilities.
