Joshua Harris’ Post

Transcript

Hello, welcome to another episode of Winning with AI. Today I'm taking a slightly different approach to the podcast and it's more of a solo adventure. And the reason behind that is mainly due to recent conversations of Faded with some fantastic sales leaders. AI thought leaders in the creative space in. The wider learning space actually in education, which I've had a really good conversation recently about this one key point that's come up with all of our trends in all of our episodes, episodes so far. Is AI with purpose? What do I mean by that? Well, yeah, I would purpose is extraordinarily important because. Today with technological adoption, what we saw in the software market originally around 10 to 15 years ago. We saw mass adoption of a load of tools and SAS tools, tools on top of tools, Martec, sales, tech, education, technology, everything. And we inundated as businesses with so many. Different tools that all did similar things or had crossover. We had some bigger tools which didn't quite do this specifics, but ultimately we bought them because it was exciting new technology and we didn't really have a use case. It was more because we want to try. Everything went out kind of Morgan's blazing now. Am I in some senses following a similar trend in some areas, in others we are in a slightly different position. So current market in most countries at the moment and companies isn't, you know, heavy investment in technology and growth. It is sensible investment and about consolidation, ensuring that you've got a good tech stack that meets the needs of your business and the strategy at the time and. One thing I just wanted to talk about was actually. Let's just pause and take a breath. Now. It's it's not a surprise that, and no secret AI is transformative and transforming industries who are adopting it and people who are adopting it today. We'll see the benefit in the next five years and they'll be way ahead of competition who wait one or two more years and and don't become early adopters of of AI and I'd argue probably isn't even in early adoption anymore. Now he's he's a really interesting stopper. Survey by. McKinsey revealed I could deliver an additional economic output of around 13 trillion by 2030, so the potential is upset you huge growth. But it's about sensible growth in implementation. Jumping on the AI bandwagon without a clear understanding of your business requirements. Could be detrimental, and it's crucial not just to adopt AI. Because it's a buzzword or to tick a box and that's one thing which I think AI start to crop up and everyone wants to have it and wants to use it, but it's been chosen and picked mainly so you can tick the potential objective that is adopt an AI solution to support XYZ. Now. Forbes actually reported that 85% of AI projects failed to yield desired output, and the key reason behind that is the lack of a comprehensive AI strategy in rollout rollout based on a deep understanding. Of an organization's needs and readiness, I just. We'll pause there moment so you can soak that in because 85%. Of AI projects fail to get the desired output. Now that's not completely failed, but that could be. Taking a tool on board. But not understanding why you've done it now. It sounds interesting on the surface, but actually getting benefit from it and the users getting benefit from it. I see it a bit like investing in an expensive sports car. Not because you need it because your your neighbors got one, your competition's got one if you're a business. And whilst you might have a few rides in it and really enjoy it. Ultimately. What you actually needed was a a family vehicle to do the school run or the shopping and. What you start to realize quickly is you bought the sports card. It might get you to the shops quicker than a family vehicle might like a you know pick up or something or an SUV. But you can't get the shot in the back of it. So actually the use case and users have using it is pointless and you quickly realize it actually becomes more of a problem than you wanted an expensive problem too. And just like you need to find the right car for the right purpose, AI implementation should be driven by a clear strategy tailored towards your specific business need. So. Draw a lot of cloud up to customers. What we see is actually. A few things. So one is they don't necessarily have visibility of the deal, health, transparency, the CU deals slip. And they don't understand why. And divorce are potentially got new growth targets, the need to equip the sales team with the ability to. I would say predict wet. It's best to spend their time and that is what we do and what we do brilliantly and that's our reality tool and the best part of it I think is. We tell your sales team where to spend the time efficiently to close more deals to win more revenue. Now that's, it's not a sales pitch. It's just that's that's one of the key purposes and why we initially get adopted. Now we do a lot more demand generation, time sequence forecasting. So we do sales forecasting as well, which is really important. So you can ensure those top five deals, you know which ones you're after. But I don't want this podcast to be about that. I just want to use it as a use case, an example to say actually our customers come to us and they've got a particular problem or need whether it's revenue growth, whether it's. Using behavioral science as well. So another arm of our our product offering to coach and teach the best hygiene factors and CRM. They've got a need and requirement and what we do is we sit actually and we almost work with them as as AI consultants and we make sure that. They're using the part of the tool, and they're set up from day one to use it in the right way to hit that target. So. The key. Most important thing. I just really want to stress enough as AI with purpose. You wouldn't just buy a piece of software these days because it has AI in it. You shouldn't. You need to think about the strategy, and it shouldn't revolve around the technology. It should revolve around the consideration of your team or your employee skills, your date, your infrastructure, your culture of innovation as well. So do you have people who will actually adopt and use it? That's going to be massive. And. Your capability to. Change your. Traditional way of working in some senses to meet the new outputs. Now our AI not really disruptive, we deliberately build it into your current processes. But if it's a new way of working, you're looking at a different tool entirely for something quite different. Then you need to consider how that could impact from a cultural point of view. So. Harvard Business Review actually emphasized that I'm mindful approach to AI can enable organizations to avoid dilution and create sophisticated value adding AI portfolio that aligns with this strategy and capabilities. Bit of a mouthful, but what they're trying to say is. It's a huge enhancement to your capability if you have thought about it, taking a breath, and made the right decision on why you need it and what output you need it to do in order for you to say it's success. So next time you think about incorporating, incorporating AI into your business, all I'm saying is just pause, take a step back and ask does this solve a problem or facilitate growth in my business? Easy I the best solution or is it another piece of software or different tool? Is it going to meet my best unique needs? And if the answer is yes by all them, then and you've hit the goal just because you like this makes sense. Jump for it, go for it like this. I'm all for adoption and early innovation and doing it, but what I'm not for is adoption and mindless. Innovation that's not actually going to help you. You don't necessarily need things. Artificial Intelligence is. Undoubtedly the the future and what I do want to stress the importance is, is a business. You should be looking at adopting it. And you should think about how you're going to bring it on board. So what you need to do is start strategy to driving about it yesterday, not even today. You know, you have to get on it now because. Companies who adopt it now will be ahead and they'll be differentiated. That will be the differentiator in competition in the future. To understand it, understand what year BP requirements need what if you need B to B sales AI, please reach out. I'm happy to have discussions on this just to help you and help kick it off for you. Umm, but really, that's all I want to cover today. I'd say that's it for today and please join me next week where I will be joined by our CEO and we will be discussing some really interesting topics about how he's adopted AI. What's the latest innovations he's been doing and gives us some insight into best practices around using it within sales teams to grow revenue. So thanks very much. I hope you enjoyed it. This was just a one off episode sure episode I wanted to include this week. Give the try so please let me know. Like comment make sure you subscribe on your favorite podcast channel. You can also watch it over on YouTube if you want to watch me sat here chatting away and you can also see my fish in the background. So thank you very much. And I hope you tune into next week episode.