#PaiRED: Intellectual Property and AI
Intellectual property is one of the most valuable assets on the planet. Innovation and the pace companies create new intangible assets is their competitive advantage. Intangible assets are hard to manage, define and value. They make up more of the S&P 500 value than anything else. Traditional metrics aren’t working with the explosion of this new assets class. Patents, copyrights, training, algorithms and platforms hold a place in organizational success. This wasn’t even imaginable a few decades ago. Understanding and determining the value of intangible assets is difficult. It is also difficult to determine costs for maintaining them. Metrics usually refers to quantity. Quantity just doesn’t cut it with this asset class. Companies make the decision to ramp up digitization and invest in intangible assets, but it isn’t easy. It can be a long and expensive road to execute the strategies.
There is a paradigm shift. AI and intangible assets are fostering a new level of understanding about what will be rewarded. Understanding a company’s internal position with intangible assets and then the competitions’ is daunting. The transformation is coming by changing perspective from Man vs. Machine to Man + Machine. The challenge is to combine computer and AI power with human understanding. This requires everyone to up their game. Organizations are beginning to realize that to compete they have to have AI. Many companies have experimented with AI on a small scale. Maybe it’s a chatbot in customer service or a bot in HR. Intangible assets open up new efficiencies and increase productivity.
Across the enterprise, new outcomes are possible with AI as an asset. The challenge is to develop strategies that empower everyone and every process. Intangible assets need to be scalable. Then AI services can help achieve business objectives faster. Thanks to the cloud, increased computing power and connection, AI is getting easier. With the huge boost in data access AI can be created, managed and controlled. To reduce operating costs, improve the margin, scale personalized experiences, or create completely new revenue streams, companies profit from speed. Speed is a universal indicator of success in a world that moves more quickly every day. AI is what will make that possible.
#PaiRED, #BobbeBaggio, #AI@Work, #WFH, #ThePajamaEffect, #Touchpoints, #Visual Connection
