Unless you have lived in a cave the last 20 months or so, you have certainly come across ChatGPT and its ilk, collectively called Generative Artificial Intelligence. Big-tech companies are all in, investing billions of dollars every quarter to not be left behind. Tech consumers and executives are wondering, what can this do for me?
The conversation covers a range: People are lamenting the coming of doomsday on one end, and on the other believe the bubble is already bursting. While no one knows for sure what AI will bring in the long run, one thing is clear: We all need to know more about it, and, at the very least, understand it is a potentially game-changing tool for many tasks.
With that in mind, the Executive Education program at Case Western Reserve University’s Weatherhead School of Management this fall launched an AI certificate series. The goal: learn about incorporating AI as a tool, tactics or part of your business strategy.
Courses cover specifics of analytics and visualization of business data and how to get more out of AI software efficiently through the emerging field of prompt engineering. The first course on “Demystifying Artificial Intelligence” is for AI novices. We explain the origins, types of AI and basic ideas about computer vision, natural language processing and AI tools.
A session on winning digital strategy with AI is especially suited for upper management focusing on organizational readiness, value creation and capture with AI and developing an AI-enhanced, digital-first strategy. Another course — the one I’m leading — focuses on using AI for marketing.
With that in mind, I offer the following basic tips:.
- Don’t be afraid of it. Dabble with a free tool to begin with for something as simple as writing a form letter or generating a sample dataset or a sample code — depending on what you do.
- It will likely surprise you with even the first answer it comes up with. Remember it gets better if you keep chatting and providing more context, feedback (and/or data) and boundaries of what you want and don’t want.
- Most things it will throw up will be surprisingly plausible-sounding and reasonable. However, beware of its “hallucinations” (makes up plausible-looking sentences and even facts). Always review and revise appropriately before sending this as your own, as, ultimately, you are responsible for it.
- Use it as a smart intern. Ask, while plausible, is it the best we could do?
To assess any initiatives or potential course of action in business, think in terms of efficiency and effectiveness in the short term, while also speculating and considering the long-term implications.
In the AI context, assess both its effectiveness — see if it improves the work, or product or ideas including adding more creativity in finding solutions, etc. — and efficiency: Does it get things or work outputs faster (and potentially cheaper). But don’t forget the long term.
To take advantage of efficiency, how do we redeploy the workforce? And if we cut staff, are we getting rid of the true expertise that may come back to haunt us in the long run? After all, we generally don’t want to run a business only with interns, no matter how smart. ●
Rakesh Niraj is an associate professor of marketing at Case Western Reserve University Weatherhead School of Management
