Lars Klottrup’s Post

Time is of the Essence: Companies Must Act Fast to Reap the Benefits of Generative AI While my recent posts highlighted important shortcomings of LLMs, I am deeply convinced of their transformative potential. Below a study highlighting the importance to move now. I especially like the statement: The main leverage lies in linking AI strategies directly to growth, customer loyalty and competitive advantages. **Summary:** Companies have a two-year window to fully utilize the potential of Generative AI (GenAI) before competition catches up. The study surveyed global companies, including 70 leaders from Germany, and found that most companies are still at the beginning of their GenAI journey. The research highlights the importance of integrating GenAI strategically to improve efficiency, customer experience, and competitiveness. German companies are particularly committed, with 42% willing to invest up to 10% of their technology budget in GenAI. However, companies face challenges such as data quality, talent, and cultural transformations to successfully implement GenAI. The study emphasizes the need for a holistic approach, involving business and technical skills, as well as partnering with companies that offer IT solutions and business services. Created using AI-Share from AI-Readiness.ch #AIShare #AIReadiness

📢 We're excited to share an exclusive interview with Dr. Andreas Liebl, Managing Director of appliedAI Initiative GmbH featured in Handelsblatt. 📰 Key Takeaways: 1️⃣ AI’s Potential in Product and Service Innovation: AI is now a standard tool, used in optimization systems and computer vision, like Miele's new ovens and Linde's gas separation controls. 2️⃣ Network Effects and Data Sharing: AI benefits more from data sharing than model sharing. Federated learning, which trains models on local servers, encourages new types of collaboration. 3️⃣ Competitive Advantage through AI: Not using AI puts companies at a disadvantage. Integrating AI accelerates processes, enhances quality, and drives innovation, from customer service to production efficiency. 4️⃣ Challenges in AI Implementation: Implementing AI needs a strategic, committed approach. Companies must build maturity step-by-step to fully realize AI’s potential. 5️⃣ The Importance of Experimentation: Strategic experimentation with AI is crucial. Companies should aim for scalable, long-term solutions instead of getting stuck in endless trials. 💡Additionally, Dr. Liebl emphasizes the need for a clear vision to unlock AI’s full potential. Companies must ensure that their AI implementation is sustainable and scalable to maintain competitiveness. 👉 Ready to explore how AI can transform your business? Read the full interview for more insights: https://lnkd.in/dS_jxxMq #AI #ArtificialIntelligence #Innovation #BusinessTransformation #AIinBusiness #AppliedAI #Handelsblatt #AILeadership #FutureOfWork #DigitalTransformation #AICompliance

While 2023 was characterized by the discovery of hashtag#genAI, 2024 will be the year in which companies will actually want to implement this technology and derive business benefits from it. There is huge potential behind the hashtag#AI hype. "Firstly, because of the immense computing power now available, which is greatly accelerating the development of AI applications. Secondly, because of the broad applicability of generative tools making them a sort of AI Swiss army knife." 💡 What characterizes companies that are already successfully integrating AI into their strategy? They focus their AI efforts on specific areas, such as optimizing customer service or the supply chain. Companies that experiment in too many areas, on the other hand, are not utilizing their resources efficiently. Rodney Zemmel, Global Leader McKinsey Digital, explains in the NZZ how the hype could develop in the coming years: https://lnkd.in/gGxUzJVc #McKinseyonAI #StateofAI #NeverJustTech

While 2023 was characterized by the discovery of hashtag#genAI, 2024 will be the year in which companies will actually want to implement this technology and derive business benefits from it. There is huge potential behind the hashtag#AI hype. "Firstly, because of the immense computing power now available, which is greatly accelerating the development of AI applications. Secondly, because of the broad applicability of generative tools making them a sort of AI Swiss army knife." 💡 What characterizes companies that are already successfully integrating AI into their strategy? They focus their AI efforts on specific areas, such as optimizing customer service or the supply chain. Companies that experiment in too many areas, on the other hand, are not utilizing their resources efficiently. Rodney Zemmel, Global Leader McKinsey Digital, explains in the NZZ how the hype could develop in the coming years: https://lnkd.in/ejR586Bt #McKinseyonAI #StateofAI #NeverJustTech

While 2023 was characterized by the discovery of hashtag#genAI, 2024 will be the year in which companies will actually want to implement this technology and derive business benefits from it. There is huge potential behind the hashtag#AI hype. "Firstly, because of the immense computing power now available, which is greatly accelerating the development of AI applications. Secondly, because of the broad applicability of generative tools making them a sort of AI Swiss army knife." 💡 What characterizes companies that are already successfully integrating AI into their strategy? They focus their AI efforts on specific areas, such as optimizing customer service or the supply chain. Companies that experiment in too many areas, on the other hand, are not utilizing their resources efficiently. Rodney Zemmel, Global Leader McKinsey Digital, explains in the NZZ how the hype could develop in the coming years: https://lnkd.in/dfjXds37 #McKinseyonAI #StateofAI #NeverJustTech

🚀 Is your company navigating the complexities of AI implementation? Discover a structured framework that can elevate your AI initiatives to new heights! Our latest article introduces the AI-Stage-Gate Model – a game-changer for companies striving to systematically develop and expand AI projects. From the initial "Minimum Loveable Idea" to full-scale enterprise deployment, this five-phase approach ensures focused progress and increased success rates. 🔍 Uncover how each phase, marked by specific criteria, helps drive innovation while prompting companies to reevaluate and improve existing processes. This methodical strategy is critical for businesses amid digital transformation, ensuring that AI efforts are effective and strategically executed. If you want to know more, click here: https://lnkd.in/ew-z-D7H #genAI #stagegate #TransformOrDie

Unlock the Power of Digital Transformation with AI! In my latest article on Techtag, "Digital Adoption Platform: Mastering Digital Transformation with AI Power," I delve into the critical role AI plays in boosting software usability and organizational efficiency. Discover how a comprehensive digital strategy can overcome low digital acceptance rates and propel your company forward in the rapidly evolving tech landscape. Don't miss out on insights that can reshape your approach to digital adoption and ensure your business thrives in 2024 and beyond. 🕒 **Read Time: 4 minutes** ➡️ [Read the full article on Techtag!](https://lnkd.in/ey6WSwrP) #DigitalTransformation #AI #DigitalAdoption #Innovation #Efficiency #TechStrategy #WalkMe

While 2023 was characterized by the discovery of hashtag#genAI, 2024 will be the year in which companies will actually want to implement this technology and derive business benefits from it. There is huge potential behind the hashtag#AI hype. "Firstly, because of the immense computing power now available, which is greatly accelerating the development of AI applications. Secondly, because of the broad applicability of generative tools making them a sort of AI Swiss army knife." 💡 What characterizes companies that are already successfully integrating AI into their strategy? They focus their AI efforts on specific areas, such as optimizing customer service or the supply chain. Companies that experiment in too many areas, on the other hand, are not utilizing their resources efficiently. Rodney Zemmel, Global Leader McKinsey Digital, explains in the NZZ how the hype could develop in the coming years: https://lnkd.in/gct2dbx6 #McKinseyonAI #StateofAI #NeverJustTech

Visiting the Hanover Fair 2024 with its focus on automatisation and artificial intelligence to boost the industrial sector in Germany provided us an unparalleled platform to engage with industry leaders. This article reflects our thoughts on why AI is the subject, which no business leaders should spare out. https://lnkd.in/detgnrqS

A question that has become more and more important: How can companies combine the transformative power of #AI with human knowledge and skills to create value for their business? 🚀    At #McKinsey, we firmly believe: It’s #NeverJustTech, but about creating impact that goes beyond. I am convinced, that AI - used in the right way - can help us and our clients realize our full potential. Strategic foresight, accountability, and nurturing the right talent pool are pivotal facets of this endeavor. In a recent article featured in HANDELSZEITUNG, my colleague Andreas Ess elaborates on Lilli, our proprietary AI platform. With such a knowledge companion, we were among the first movers in our industry.   For more insights, read the article here: https://lnkd.in/eSzf63HQ It's never just tech:  ➡️https://lnkd.in/e9h3Fb42