3 AI Concepts Leaders Should Know

AI is everywhere, yet it’s still confusing. Many leaders I speak with are unsure about what AI truly is and, more importantly, how it can be leveraged to drive real value for their business.

Does that sound familiar?

After discussing AI initiatives with SMB executives, I often hear the same concern: “AI seems vague, and most examples I know of are related to ChatGPT. How can we create a concrete, tailored AI strategy for our company?”

When the vision is unclear and the path ahead feels uncertain, mission-critical initiatives tend to get deprioritized in favor of day-to-day operations. Before you know it, your competitors are using AI to scale their business and unlock new markets with more competitive products and services.

The key to overcoming this confusion is simple: Start with identifying AI use cases specific to your business.

Here’s why:

When we begin with AI tools (like ChatGPT) in mind, we often try to fit our business into a pre-existing solution. But if we first understand the unique needs of our business and define impactful AI use cases, we can cut through the noise and craft a strategy that truly works.

To identify AI use cases that will drive growth, leaders need to understand the fundamentals of AI. Here are 3 key knowledge areas to acquire:

1. The Backbone of AI: Data – All AI use cases are driven by the type and quality of data your business generates.

   
   

2. Types of AI Models and their use cases – Different models are designed for different purposes:

   • Large Language Models (like ChatGPT)

   • Computer Vision (for images and videos)

   • Voice Models (for phone calls)

   • … and many others.

     
     

3. AI Solution Development Lifecycle – This includes three core steps:

   • Data preparation

   • AI model training

   • Software development

     
     

When our understanding of AI is limited, it restricts our ability to see the possibilities. That’s why I believe in empowering leaders with a solid foundation of AI knowledge to make informed decisions.

We’re in the midst of an information revolution, where data is generated every single day through business activities. What sets companies apart is their ability to harness and leverage this data—and AI is the key to unlocking that potential.

If you’re curious to assess your AI knowledge, take our free online quiz to see where you stand.