Boards of directors should understand AI and its effects on their companies because it has the potential to change the firm’s competitive positioning and transform the capabilities needed to serve customers effectively in the future.
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The rapid growth in the adoption of generative artificial intelligence (AI) such as ChatGPT is astounding. This speed is high not only at the consumer level but also at the corporate level. There are different views about AI’s nature, its potential and its impact, ranging from visionary perspectives to more skeptical ones.
[This article has been reproduced with permission from IESE Business School. www.iese.edu/ Views expressed are personal.]