AI in the Business Strategy

By Anthony Birritteri, Editor-in-Chief On Mar 14, 2024

It seems as if artificial intelligence (AI) can make anyone a subject matter expert in about the time it takes to cook a hard-boiled egg, but you must input the right query and know something about your subject matter when reviewing what an AI program like ChatGPT delivers. That said, generative AI offers efficiency, creativity, speed and can make your business stand out among the competition. Additionally, it is best to be an early adopter of the technology.

These were just some of the comments from Drew Thompson, the morning keynote speaker at the New Jersey Business & Industry Association’s (NJBIA) Insights and Outlooks event held at the Galloping Hill Golf Course Club House in Kenilworth.

“Think of AI as the world’s smartest intern,” Thompson, founder of Consult Drew, LLC said. “It can do anything you want it to do. You just have to ask it the right questions; you have to talk to it in the right way.”

As a business coach who leverages the power of generative AI to help executives and their teams unlock new levels of creativity, efficiency and results, Thompson explained the concept of the RISE formula and how to use AI to achieve its results.

RISE stands for: “Rapidly” investing in your branding; “Innovating” your message; “Seizing” the offensive; and “Establishing” your leadership.

In rapidly investing in your branding, Thompson said a business could get creative brand messaging using ChatGPT in half the time it would take someone who was hired to develop a brand statement and talking points.

Regarding innovating the message, AI tools such as Chat GPT or Claude AI could help simplify, for example, a complicated message.

According to Thompson, “If you work in a technical field and you want to innovate your message, you may sound too technical, and someone will not know what you are talking about. You must convert the message in a way that resonates with people. You want to make it as simple as reading a newspaper. So, one can use a prompt in ChatGPT such as: “Make this so I can explain it to a toddler.”

In seizing the offensive, Thompson discussed using AI to increase the velocity of content that a business creates. “It can be for marketing or internal communications, for example: anything that touches your stakeholders. You can use ChatGPT to create that content and do it consistently,” he said.

Thompson explained that in establishing yourself as a leader, one can use ChatGPT “to create thought leadership pieces; to show that you know what you are doing, to show you are different, to show your expertise.”

He advised people in the audience to leverage AI now “because the odds are that your competitors, at this stage, are not. If I told you right now that I can give you a system that knows everything about everything and is fast, wouldn’t you take advantage of it?”

Michele Siekerka, NJBIA president and CEO, said that AI is revolutionizing many industries.

When she asked if AI will reduce jobs or transform the nature of jobs, Thompson was candid and said, “I don’t think AI is going to replace jobs, yet. The CEO of OpenAI said AI will disrupt knowledge fields.

“For the workforce, if you want to be a subject matter expert, learning how to use AI right now will make you more relevant. From a hiring perspective, people applying for jobs can use AI to get better prepared and win that interview. Meanwhile, employers have that ability as well. They can use AI tools to look up someone’s background. So, both sides have an advantage,” Thompson said.

Regarding AI and ethics, especially in the business world, Thompson said businesses should deeply investigate AI’s output and make sure it reflects company values.

He said, “AI needs humans to: No. 1, make sure the content is ethical; and No. 2, that it’s correct and saying the right thing … because all AI is going to do is go from point A to point B in the fastest way possible.”

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