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Guest: Asha Saxena, a serial entrepreneur, Columbia University professor, CEO coach, international speaker, and the best-selling author of The AI Factor: How to Apply Artificial Intelligence and Use Big Data to Grow Your Business Exponentially.
Overview: AI is poised to be the most disruptive business technology since the internet went mainstream. If your company doesn’t have a plan to harness the transformative power of AI, you risk falling far behind your competition.
On today’s show, Asha Saxena provides a practical, four-point framework that will help CEOs develop an ethical AI strategy and gather the data they need to win BIG in the latest leg of the tech arms race.
Asha Saxena’s four steps to create and optimize your AI “flywheel”:
1. “Assess where you are in terms of your business value indicator and your data value indicator. For example, if I’m an innovator, do I have the data to be able to innovate and do I have the business value for what I’m launching? If you do, that gives you the power to create value from your AI projects.”
2. “Prioritize your projects or the value based upon these projects.”
3. “Measure. If you don’t measure, you won’t know if you’re getting value.”
4. “Feed your data into the AI flywheel. When you find the right data set, your machine learning or your AI will automatically learn from that dataset to create patterns and apply them to business decisions to get the results you’re looking for.
Asha Saxena on how AI will revolutionize your workforce:
“AI will replace traditional human jobs, but it’s also going to create new jobs. So it’s very important that we actually invest in reskilling and retooling ourselves. This is a great opportunity for us to learn and be able to understand how to use technology and become more efficient. What technology really does is gives us room to be more creative. AI is going to become a partner in everything you do. New skills will be born. I think the human race is really adaptable, and I think we all will adapt to this new change.”
Asha Saxena on embracing diversity to improve AI performance:
“During the pandemic I gave a talk about the biases that we end up coding into AI. What bothered me was that only 18% of coders who were writing these AI algorithms were women. And my worry is that we don’t have enough diversity. It’s so important that we mandate that design teams or development teams have diversity in not only gender, but also color, thought, age. You want to make sure that when you write these algorithms and when you are working with a data set that you are working with the right data set to give you the right answer.”
Links:
Connect with Asha Saxena on LinkedIn
How to Use AI to Accelerate Your Business Growth – There’s a clear dividing line between companies that are going to struggle to keep pace with the rate of innovation and companies that are positioning themselves to succeed in our digital future. Use Asha’s three-step process to make sure that your company falls on the right side of that line.
5 Ways for CEOs to Harness AI for Bold Business Transformation – IBM recently announced that it’s pausing its hiring to reassess what jobs AI can do. Dropbox is restructuring its workforce to make room for AI-focused talent. And your company?
About CEO Coaching International
CEO Coaching International works with CEOs and their leadership teams to achieve extraordinary results quarter after quarter, year after year. Known globally for its success in coaching growth-focused entrepreneurs to meaningful exits, CEO Coaching International has coached more than 1,000 CEOs and entrepreneurs in more than 60 countries and 45 industries. The coaches at CEO Coaching International are former CEOs, presidents, or executives who have made BIG happen. The firm’s coaches have led double-digit sales and profit growth in businesses ranging in size from startups to over $10 billion, and many are founders that have led their companies through successful eight, nine, and ten-figure exits. Companies working with CEO Coaching International for two years or more have experienced an average revenue CAGR of 31% (2.6X the U.S. average) and an average EBITDA CAGR of 52.3% (more than 5X the U.S. average).
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