Michael Haenlein: Why are So Many Businesses Missing the AI Revolution? The Family Business Voice
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According toMichael Haenlein, Marketing Professor and Scientific Director of the ESCP Europe Research Centre on Big Data, not only do we struggle to define artificial intelligence (AI); we have problems qualifying intelligence in general. Our failure to understand the concept and therefore implement AI effectively – at least when it comes to maintaining a competitive advantage – is concerning but not unredeemable. Haenlein suggests that to understand artificial intelligence, we first need to systematise it.
His recent article co-authored with Andreas Kaplan, Siri, Siri, in my Hand: Who’s the Fairest in the Land? On the interpretations, Illustrations, and Implications of Artificial Intelligence, explores practical approaches to the categorisation of AI. Understanding the fundamental differences between kitchen speakers and smart diagnostic systems makes room for a much broader appreciation of AI‘s implications and potential applications.
In business, many overlook the tangible impact AI can have. Firms should focus on eliminating simple, repetitive tasks both for the benefit of employees and the organisation as a whole. Freeing humans from servile chores that machines perform more efficiently means that businesses can benefit from what humans excel at: creative thinking.
Recently, Tharawat Magazine had the opportunity to sit down with Michael Haenlein to discuss the inspiration for his latest article, his system for the categorisation of AI and where to start when it comes to ascertaining the value AI can add.