The emergence of artificial intelligence (AI) has reformed the way businesses operate, requiring individuals and organizations to adapt and acquire new knowledge and skills. In this blog post, we share Antti Vassinen’s (Professor of Practice in Marketing, Aalto University School of Business) tips for top management and marketing leaders to leverage AI’s potential for growth and innovation.
This blog post is part of a series highlighting the best learnings and insights from E3 Network meeting organized by Valve. The E3 Network is composed of 30 independent B2B agencies worldwide, focused on helping brands effectively sell to business buyers. The network is comprised of more than 1700 marketing professionals from around the globe.
Here are key learnings on harnessing the value of AI shared by Antti.
- Learn Effective Prompting and Promote Personal Use of Generative Tools
To gain first-hand experience and familiarity with AI, management should actively promote the learning of effective prompting techniques and encourage personal use of generative tools. By encouraging first-hand experience with use cases and exploring the potential of AI, people can gain insights into its applications, limitations, and hallucinations. This hands-on experience will enable them to make informed decisions and effectively integrate AI into their business strategies.
- Maintain Data Security and Understand Limitations
However, it is crucial to exercise caution and avoid uploading confidential or proprietary material to these tools. As these tools rely on data input, there is a risk that sensitive information may be compromised. While AI can assist in tasks such as data analysis and content production, it is important to recognize its limitations. AI lacks the ability to understand nuances and sociocultural factors as well as humans do. The level of empathy and unrestricted creativity that humans possess remains unmatched by AI.
- Determine the Goal: Competitive Advantage or Industry Standards
Before embarking on an AI initiative, top management should carefully consider the organization's goal. Is the aim to build a competitive advantage or simply keep up with industry’s overall progress? This decision will shape the approach to AI adoption and determine the level of investment and resources allocated. While it is important to stay relevant in a rapidly evolving landscape, it is equally crucial to assess the long-term impact and potential benefits of embracing AI.
- Focus on Building Organizational Capabilities
Rather than solely focusing on delivering a single "killer" AI initiative, companies should prioritize building organizational capabilities. This involves fostering a culture of innovation, promoting cross-functional collaboration, and investing in employee training and development. AI should be viewed as an enabler rather than a replacement for human skills. By integrating AI solutions as part of current marketing technology (martech) and other areas such as content production and lead scoring, organizations can enhance efficiency and free up time for more valuable actions where humans excel.
- Establish Governance Principles
As AI technology continues to evolve, regulations and ethical considerations are becoming increasingly important. Top management should establish governance principles that ensure regulatory compliance, such as the EU AI Act, and ethical use of AI within the organization. This includes defining clear guidelines for data usage, transparency, fairness, and accountability, ultimately fostering trust among stakeholders and mitigating potential risks.
In the AI era, top management and marketing leaders play a pivotal role in guiding organizations to harness the vast potential of AI. By learning effective prompting techniques, promoting personal use of generative tools, and determining the goal of AI adoption, leaders can pave the way for successful implementation. Building organizational capabilities and respecting the unique strengths of human understanding and creativity will be essential for leveraging AI as an enabler for business growth and innovation. With the right strategies and mindset, companies can navigate the AI landscape, embrace its possibilities, and find their way towards a brighter future.
If you would like to learn more about how Valve and the E3 network can support your international marketing initiatives, please reach out to Pauliina Kuokka (Director, Customer Success), who is responsible for Valve’s E3 network relations.