Dr. Karl Michael Popp
M&A, Business Models, platforms and ecosystems in the software industry

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How can a company establish the strategic capability of artificial intelligence?

IIn today's fast-paced business environment, leveraging artificial intelligence (AI) has become a critical factor for companies looking to gain a competitive edge and drive innovation. The strategic capability of AI is fundamental to achieving sustainable growth and success. 

So, how can a company effectively establish and harness the power of AI to drive strategic advantage? 

To begin with, a clear understanding of the company's strategic goals and objectives is essential. By aligning AI initiatives with the overall strategic direction of the company, leaders can ensure that AI investments contribute to the long-term success of the business. 

Additionally, fostering a culture of AI literacy and promoting cross-functional collaboration within the organization are pivotal steps in building strategic capability. This involves facilitating training programs to upskill employees in AI concepts and applications, as well as creating multidisciplinary teams that work together to identify and implement AI solutions tailored to the company's specific needs. 

Furthermore, developing a comprehensive AI roadmap that encompasses the identification of key use cases, the integration of AI into existing workflows, and the establishment of performance metrics is essential for strategic capability. This roadmap should be continuously assessed and refined to ensure that the company remains at the forefront of AI innovation and leverages its capabilities to drive strategic objectives. 

Finally, establishing strong partnerships with AI technology providers and staying abreast of industry best practices and emerging trends are critical in enhancing the strategic capability of AI within the company. 

By embracing a holistic approach that combines organizational alignment, talent development, strategic planning, and external partnerships, companies can effectively establish the strategic capability of artificial intelligence, paving the way for transformative impact and sustainable growth.

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