Innovation does not understand hierarchy and corporate titles. I saw this firsthand when I led the Global Innovation Programs at Cisco and later advised leading Fortune 500 organizations on their AI strategy and AI roadmap. The boldest and most creative ideas always came from a select few employees who saw a problem and had the creativity and business acumen to find a solution. They also had the strength, stamina and tenacity to get others on board to implement it.

These people were not necessarily executives or board members. In fact, most are “regular” employees who are invested in their jobs and eager to make things work better – for all of us. THESE intrapreneurs possess a perfect blend of problem-solving and creative thinking skills with a sprinkle of entrepreneurial mindset – a gold mine for any organization in today's rapidly changing business and technology climate.

Today, entrepreneurs have an unprecedented opportunity to scale the impact of their ideas and enhance their careers through the use of Generative AI. Here's how.

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Making the most of generative AI as an entrepreneur

In the right hands, generative AI is poised to transform business as we know it. McKinsey estimates that technology can spill over 2.6 – 4.4 trillion dollars in the global economy every year. However, for this to happen, businesses must change. And they need to change in big ways.

Research shows that at least 40% of employees will need to be retrained as a result of generative AI transforming the way we work. Actually, 73% of organizations expect that some form of retraining will be necessary for all employees.

This creates a perfect opportunity for entrepreneurs to scale their efforts and become an indispensable part of the digital transformation process within their organizations. First, however, they must understand what they are working with.

Stay current

Don't fall prey to the illusory truth effect. Just because you're exposed to generative AI every day doesn't automatically mean you know how to use it. In fact, most of us are still learning how to best use this technology.

This is because the AI ​​generation is evolving at an accelerated pace. For example, while it took decades to develop the early natural language processing programs of the 60s, today we see AI technology make great strides in progress within a matter of weeks. Now we not only have images, text and code generated by AI, but a few days ago we also saw the first short film created by AI.

This was unfathomable just a few years ago. The existing capabilities of large language models (LLM) are unmatched and ever-increasing. Entrepreneurs who are natural problem solvers simply cannot afford to remain uninformed in this area. You need to stay current, and that requires constant exposure to technology and experimentation with its capabilities.

Embrace ethical responsibility

The unprecedented possibilities of generative AI are also unprecedented CHALLENGE. Data compliance and security are paramount in this context. Before adopting any AI solution, familiarize yourself with your organization's internal AI governance framework. What are the constraints and best practices that the business has embraced?

Looking beyond your employer, there are also national and statewide AI policies that businesses must adhere to in order to prevent and limit any potential bias or abuse. For example, AI Act by the European Commission it is the first legal framework that limits and moderates the use of AI in different contexts. A few years ago, the state of Illinois passed as well Video interview act, which requires employers who use AI in evaluating candidates' video interviews to be transparent with them. There are, of course, many other regulations that have been adopted or are being developed that will affect how AI can and should be used.

Staying abreast of your policies as well as regulatory changes and learning about potential risks with each new iteration of technology will help you innovate in a ethical and responsible way.

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Look for quick wins, responsibly

Generative AI has been amazing for introducing quick wins. The threshold for entry is so low that there has been almost unanimous approval in all job roles to perform one task or another. If you haven't already, look at the business areas where these tools can free up time for you and your colleagues within the confines of your corporate AI strategy.

In keeping with the previous point about ethical use, start small. For example, if it takes you 30 minutes to comb through phone calls and emails to prepare for your next call, AI can do it for you in minutes. Create workflows that can replicate these benefits across the team. Follow everything. Once you have enough data, you can use your proof of concept to a company-wide implementation.

Build a coalition of volunteers

The biggest gains from AI come in an interdisciplinary setting. One of the main appeals of generative AI is that there is virtually no barrier to entry. Its use of human language means that technical and non-technical teams have a unique chance to collaborate and innovate together in ways they haven't been able to before.

Put this to good use by building best practice exchanges at work and within the wider AI community. Foster cross-functional collaboration where employees have open access to others to ask questions, share knowledge, and experiment with new solutions.

Start with a clear goal in mind

Regardless of the benefits AI brings to the table, it would be difficult to get someone on board if you don't have tangible data to demonstrate its value. In this context, it's not just about whether generative AI can solve a particular business problem (it most likely can). The question here is whether you know how to apply technology in a way that is both ethical, responsible and seamless to other business processes.

Before tackling any challenge, measure the time and effort it would take you and your team to complete a task without the use of AI. Then, measure how AI affects that part of your work. Do the benefits justify its use? Also, consider the potential risks and pushback you may encounter from other stakeholders. Address these challenges in advance so that you can implement these solutions without too many hiccups.

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Entrepreneurs who embrace AI will become the architects of the future. Blending their creative problem-solving prowess with the limitless capabilities of generative AI will be the silver lining that helps companies survive and thrive in an increasingly competitive landscape. This creates a once-in-a-lifetime opportunity for entrepreneurs to not only stand out, but rise through the ranks quickly. Start small, work responsibly and never stop learning. The rest will follow.