AI is a no-brainer. Why innovation management needs… | by john bessant | May, 2024 | Medium
Key Takeaway
The rapid pace of innovation in the field of artificial intelligence (AI) is having a significant impact across various industries. AI is already being widely adopted and its growth potential is enormous, with estimates suggesting a market value of over 1.8 trillion U.S. dollars by 2030. However, there are concerns about privacy, data security, deep-fake abuse, and potential job displacement.
Summary
- AI is experiencing a rapid rate of adoption and is already having an impact in various industries.
- The pace of innovation within the world of AI is breath-taking, with major breakthroughs happening frequently.
- AI models like Chat GPT and others have gained millions of users within a short period of time.
- The market for AI technologies is expected to grow to over 1.8 trillion U.S. dollars by 2030.
- The growth of AI is accompanied by concerns about privacy, data security, deep-fake abuse, and potential job displacement.
- AI has the potential to replace a wide range of jobs and can perform complex tasks more effectively than humans.
- The impact of AI on innovation management is significant, as it is already being used in product innovation, process innovation, position innovation, and rethinking business models.
- AI can help identify opportunities, make strategic selections, and facilitate implementation in the innovation process.
- The future of AI and its impact on innovators and organizations is still uncertain, but there are grounds for optimism based on past technological revolutions.
