Dr. Pero Mićić

What are your real opportunities in the crisis?

Crisis opportunity no. 05: Intelligentize your business model now

In times of crisis, people get inventive, agile and enterprising. At least some of your competitors, those you already know or thos who you have not yet recognized as competitors. Many companies will right now radically digitalize and intelligentize their business model. To increase customer benefit and to reduce costs. Don’t wait for that to happen. Intelligentize your business model now! I call it intelligentization, because digitalization falls far short as a term.

Advances in Artificial Intelligence

The first conference on artificial intelligence took place in 1956. Even today, decades later, it is still in its infancy. But already today the possibilities are astonishing.

Everything that humans can do cognitively, the artificially intelligent machine can do better, today or soon.

When I speak of AI, I define it rather broadly as the replication of human capabilities by means of information technology. But let’s check systematically the capabilities of the working human being and check in which capabilities the AI has already outperformed us or will soon outperform us.

Recognize: AI can tell from a person’s face whether they are likely to be lying. It can detect depression and even measure blood pressure remotely. And it can assess the dangerousness of the situation at a certain location based on countless factors.

Learn: AI teaches itself to play chess in four hours and beats our world’s best chess computer 28:0. It creates the periodic table of the elements in a few hours. It took us over 100 years to do this.

Consult: Artificially intelligent systems become all-knowing advisors in medicine, architecture, law, even personal coaches. They will master all psychotherapeutic interventions, use the entire internet and, if we set it that way, read everything we ever wrote, listen to what we say, and coach us in our everyday life towards our goals within the framework of our values. And all this at minimal cost.

Communicate: AIs have human like faces, they speak and interpret in real time in all common languages, even understand body language, negotiate good deals for us, arrange our hairdresser appointments, win professional debates and even make fun of the opponent with quite some humor.

Create: AIs compose symphonies, invent jokes, design highly efficient components, write stories and movie scripts, draw pictures from texts and even create the virtual actors for their scripts. It’s not just people who create the new things. AIs create the innovations from the same multidimensional space of possibilities as we humans do.

Administrate: Combining AI with Distributed Ledgers, known as blockchains, and with Smart Contracts, makes something possible that is still unimaginable for most of us: Decentralized Autonomous Organization, DAOs. Offices and administrations in which no people work at all and that don’t need any physical location. We can argue about if we want that. But it will be feasible. And where people are free, they will use these possibilities.

Decide: AI helps to assess who has what likelihood of relapse after release from prison. And it helps to decide which patients should be treated in which order in an emergency, the triage. The company Deep Knowledge Ventures has appointed the AI VITAL as their sixth member of the board way back in in 2014.

Act: For years, the US Air Force has been simulating air raids on the United States, which an AI is developing. It is the most experienced fighter pilots who defend the mainland. And often stand no chance against the AI. They are regularly shot down from the virtual air by the AI. Autonomous vehicles and robotaxis are therefore closer than most people assume.

All these AIs are highly specialized. It’s still Narrow AI. But the range that they cover is rapidly expanding.

Operational maturity for your own business model: Intelligentize!

Everything I just showed you is already working in real life. None of this is really futuristic as to the technical possibility. It only takes acceptance and the entrepreneurial initiative to bring these tools to maturity for use in one’s own business model and to actually use the tools.

And yes, criminals and authoritarians will also use such tools. That is a huge problem. That is why it is also an important and huge future market to protect us against it.

And no: None of this will be to the detriment of human. On the contrary, we can still be MORE human and enjoy our growing quality of life.

Now what? Your concrete task:

Describe your business model if you have not already done so. From your target group to the promised effects, the solutions, the customer acquisition, the production and the procurement.

I will be happy to send you a template for a business model that you can use for “grown-up” companies. Message me and I will send it to you.

Go through the functions and capabilities, they are human capabilities and AI capabilities as well. Ask for each of the over 20 elements of your business model:

  1. Which functions are used? For example, for development, production, distribution, customer acquisition.
  2. How can these functions be fulfilled by AI? No, not “which can”, but “how can”, otherwise you will stop searching too early. Assume that virtually every function can be at least partially intelligentized.
  3. Prioritize: Which functions, if intelligentized, would make many other functions easier or superfluous?
  4. Find solutions for the first set of functions at the countless start-ups and research projects.
  5. Implement these solutions step by step. If possible, cooperate, to be fast enough.

Have a bright future!

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Further crisis opportunities

Crisis opportunity no. 01: Lead! Accept your role as leader and “hero” in the crisis

Crisis opportunity no. 02: Create a credibly positive “future we” for your team

Crisis opportunity no. 03: Focus your business model on an eternal need

Crisis opportunity no. 04: Make social value the core of your mission

Crisis opportunity no. 06: Virtualize your company

Crisis opportunity no. 07: Make your capability portfolio future-robust

Crisis opportunity no. 08: Use an opportunity radar