Reflecting on the journey since ChatGPT’s debut a 12 months ago, it’s clear that generative AI (GenAI) is greater than a technological trend; it’s a pivotal shift within the business landscape.
With almost twenty years of experience in strategic and operational roles at McKinsey, eBay, Nike, and now at Prosus, I actually have focused on translating emerging technologies into strategies that drive meaningful business growth and value. At Prosus, this has involved guiding startups through the GenAI landscape, helping them not only adapt, but in addition win in a market that’s rapidly transforming.
In this text, I distill those learnings right into a practical playbook for GenAI, aimed toward helping startups to not only survive but in addition thrive within the GenAI era.
GenAI value creation
Balancing protective measures, like data protection protocols, with progressive strategies, comparable to AI-driven product rollouts, is important.
With a dedicated give attention to GenAI, our portfolio of corporations has been able to comprehend significant value during the last 12 months across retention, sales pipeline, conversion rates, fraud prevention, and operational efficiency.
While we have a good time these quick wins, the true power of GenAI lies in its ability to put a foundation for long-term, sustainable success in a always evolving landscape.
Figure 1. Example results from Prosus GenAI value creation initiatives. Image Credits: Prosus
Getting practical
Drawing on this hands-on experience, I’ve outlined a three-step process, allowing startups to evaluate their position, strategize and unlock value.
Disruption diagnostics: Dissect risk and readiness
It’s crucial to know your organization’s current standing in relation to GenAI disruption. This involves an intensive evaluation of risk exposure and operational readiness, which provides a foundation for a strong GenAI strategy.
