- [Narrator] Blink number four,
today's businesses should also shift their attention to AI
and building an agile operating model.
You've probably heard about recent strides
in the development of artificial intelligence or AI,
especially when it comes to the advanced algorithms,
allowing services like Apple's Siri,
and Amazon's Alexa to learn the preferences
and anticipate the needs of users.
But AI is about more than just digital assistance.
That's why embracing AI is so important for all businesses.
These days, AI has four human like capabilities.
It can sense things as it does
when performing facial recognition.
It can comprehend things
such as language and verbal commands.
It can act as it does when making recommendations
and it can learn.
All of these capabilities are finding their way
into one industry or another.
And any company that chooses to ignore AI
will likely be left behind.
Currently around 70% of manufacturers worldwide,
identify AI as a key part of their future
innovation and growth.
Yet only 19% of those companies have presented
a clear and specific roadmap for utilizing AI.
However, AI has clearly contributed to increased value
and accelerated growth for the companies
that have already added it.
Take the smart speaker, for example.
This was a nonexistent product just a few years ago.
Yet in 2018 alone, there were around 56 million
smart speakers sold worldwide.
Meanwhile, experts are suggesting
that the use of voice assistance and smart,
digitally connected household appliances
will only continue to rise in the years ahead.
This brings us to one last big shift for companies,
to stop thinking linearly and to focus
on building an agile operating model.
The marketplace and technological landscape
will continue to change rapidly in the future.
And having traditional top down hierarchies
will make it difficult for teams to act quickly
and to make the decisions that need to be made.
Amazon founder, Jeff Bezos, advocates for small,
empowered product-minded teams
with a focus on experimentation.
As he sees it, twice as much experimenting
will lead to twice as many ideas.
Amazon also has a two pizza rule.
If your team can't be fed by two pizzas, it's too big.