Articles

20 Game-Changing AI Tools Every Small Business Leader Needs Now

Small businesses aren’t really so small; in fact, they make up around 90 percent of industry and generate close to 50 percent of global GDP.

This means that while superscale giants like Amazon and Google may make headlines developing and selling AI tools, it’s often the global network of innovators, entrepreneurs and dreamers running small businesses that will create real value with these tools.

AI-Generated Digital Twins: Shaping the Future of Business

AI is constantly transforming the way businesses operate, compete, and innovate. From generating detailed digital twin personas and examining group dynamics to building robust benchmarking datasets, AI is particularly useful for understanding and replicating human behavior.

How AI is transforming strategy development

At its core, strategy entails deriving insights from facts and data, developing real options based on those insights, making hard-to-reverse choices, and executing initiatives that convert those choices into value. Data analytics has assisted in this work for several decades, but never before has technology been able to not only augment and partially automate inputs into strategy but also combine them into complex analyses. In time, it may even recommend viable strategies.

New Study: 49% Of Companies Have Stagnant Decision Styles – Can Technology Help?

New research finds that over half of companies surveyed have decision-making styles that obscure their decision results, causing decision-making processes to stagnate. By benchmarking these companies against high-performing peers, the study suggests a path to becoming learning organizations that instead optimize their decision-making over time.

How to integrate natural capital into business decision making

As society looks towards making decisions for the long-term prosperity of people, it is becoming more clear that organizations need a deeper understanding of the value of natural, social and human capital in order to have a stronger fact basis for decision making.

The Natural Capital Coalition brought together many competing initiatives to create one internationally accepted framework. Organizations can use this framework to incorporate the value of capitals into their everyday decision making.

Where Data-Driven Decision-Making Can Go Wrong

Let’s say you’re leading a meeting about the hourly pay of your company’s warehouse employees. For several years it has automatically been increased by small amounts to keep up with inflation. Citing a study of a large company that found that higher pay improved productivity so much that it boosted profits, someone on your team advocates for a different approach: a substantial raise of $2 an hour for all workers in the warehouse. What would you do?

2024: The Year Start-Ups Learn To Do More With Less

Whether we’ll actually face a full-blown recession in 2024 is anyone’s guess.

However, perception is often more important than reality, and if CEO attitudes are anything to go by it’s best to hunker down just in case. Based on the Conference Board’s survey, 72% of CEOs are preparing for a recession. The Chief Executive Group found similarly muted views, with 90% of CEOs expecting economic conditions to worsen or stay as they are.