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The 7 new business values in the era of Artificial Intelligence

In the era of Artificial Intelligence, consumers and customers increasingly demand a better experience from companies.

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This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process. Opinions expressed by Entrepreneur contributors are their own.

Although Artificial Intelligence (AI) is a technology that has existed for more than sixty years, today, thanks to greater computing power, the applications of this field of information technology have had a direct impact on the spine of companies. , that is, in business values .

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To refer to business values we can say that they are the pillars that guide the behavior of workers and managers, as well as the principles that guide decision-making, helping the company to achieve its founding objective or mission.

It is precisely these values that make it possible to communicate the business culture, facilitate understanding, promote continuous improvement processes, set ethical standards and, above all, those that make your company unique.

The high impact that Artificial Intelligence has had within companies in recent years has led to the transformation of values. That is why, this time, I share with you the 7 new business values in the era of Artificial Intelligence.

  1. Early adoption : the implementation of a new technology always implies a challenge for any organization, however, being a pioneer in the use of these new technologies, such as AI, implies, in most cases, redefining its industries and the way they work. Despite this, being an early-stage pioneer allows companies to influence and transform their respective industries, making them leaders in their industry. On the other hand, incorporating these technologies into company processes helps to achieve more efficient operations and make better decisions.
  2. Welcome, open arms to innovation : in this era a key factor is innovation. Companies must bet on innovating, since through it they will be able to create new paradigms, products and services. You have to lose your fear of new technologies and think that without innovation there is no growth, much less future.
  3. Learn: companies must promote and encourage learning about these new technological trends. It is becoming more and more necessary to have a trained work team that has the knowledge and skills required by emerging technologies. Having a team in constant training will make the company more competent.
  4. Community: in the era of Artificial Intelligence, communities have become stronger than ever, I would even dare to say that digital communities today have greater power than companies themselves. A clear example of this is that they already have their own currency, as is the case of the Non Fungible Token (NFT) , which in Spanish we could translate as Non-fungible Token . For those unfamiliar with the concept, the NFT is a unique asset, indivisible, transferable and with the ability to prove its digital scarcity . It should be noted that in 2020 the NFT market grew by almost 300%, three times its size in 2019. Currently, operations involving NFT already exceed US $ 300 million in transaction volume. These figures clearly reflect the great value of communities in these times.
  5. Move fast: in an age where everything happens at high speed, it is essential that organizations do not stop, but move fast. Companies must generate new alliances and strategies, in this way they will be able to grow in credibility and authority within the industry.
  6. Pivoting: it is essential that the company has the ability to adjust its strategies and business model according to the conditions and responses it obtains from the market. Making the necessary changes, as many times as necessary, makes the company competent and apt to continue climbing within the industry.
  7. Do not compete, collaborate: when a company competes it is because it does not have a product or service with a sufficiently valuable degree of differentiation. For this reason, the company must focus on generating a strong and clear value offer, so that this product or service is unique within the market.

As can be seen, in the era of Artificial Intelligence, consumers and customers increasingly demand a better experience from companies. They demand speed, flexibility, participation, dialogue and responsibility with the organization and with the community. For this reason, the main challenge for companies today is to convert these demands into business values, into values that can become the basis of their culture, processes and services.