Competitive Intelligence

old way of competing with competitors

"out do" them

new way of competing with competitors

"out know them"

what is the new way to do business?

AI

PESTEL forces

Politics, Economics, Social, Technology, Environmental, Legal

Porter Forces

Suppliers, New Entrants, Governments, Customers, Substitutes, Complements, Rivals,

What does VUCA stand for?

Versatile, Uncertain, Complex, and Ambiguous

consumer never expects what

a discount

where might a business get AI

ai specialist ; partnership

market forces

all about competitors, internal/external databases

eyeball method

all about views; low-cost method to distribute your content

white water world

also known as a VUCA world, is characterized by hyper-connectivity, radical contingency, and speed of change

what is an intelligent company?

an "out knowing organization"

average lifespan of a smart phone app

as low as 30 days

what is the trend with disruptive innovations

as tech progresses they are going to happen more often and be able to get to market quicker

once the winning product company loses their edge, they likely go _________

bankrupt

product life cycle

bell curve - early, shake cut, late

boundaries

budgets and people

what is a way to monitor competition

business license; allows you pre preemptively see who is new in your industry

tesla

can change tech at any time and the tech of their older models

new way of information

companies now want info exchanged internally

old way of information

companies use to silo their information

competitive intelligence is all about

competitors

intangible business model

content, accessibility; can use tech to lower cost

shake cut

customers decide who is out

how does technology make it easier to differentiate our strategy?

decreases costs, increases market share, helps us to attack new markets

wicked problems definition

difficult to define and inherently unsolvable

greatest threat to employees

employers destroying them in between e.g you don't need to use the computer anymore for your new role

mega trends

empowerment, polarization, hyperconnectivity, disengagement, aging, dematerialization, aging, scarcity, blurring boundaries, erosion of governance, displacement

early warning system

events, curate, meta tag, report

competition professionals will have to know _______- about a company

everything

traditional publishers have

failed, merged, or bought out

advantages of AI

faster, cheaper than humans, understanding is quicker with tech

profits are

fickle

COVID and AI

fit bit and smart watches were able to detect oxygen levels in blood to detect covid

one thing we do wrong

go for the late market (late majority, laggards) and targeting traditional consumers

companies are not all the same, they have different

goals and starting places

people boundaries

how many people to assign or remove from a project?

budget boundaries

how much money are we going to sped

new way of thinking

in ecosystems

old way of thinking

in systems

sustaining disruptions

incremental improvements in markets ; two types

ci professional deals with an entire

industry, not just the business

competitors will need to look

into your company

rule based learning

just the rules; a person who inputs the information knows the rules of the analysis ; set of logical rules for the AI designed by a human expert

success factors of AI

large data sets low-cost data storage and computing power need good money to hire AI engineer money, we need AI to make algorithms

how to spot your competitions weakness

look at what they do not do well look at what changes they have made

competition can take market share through what ways

lower prices, more features

AI strategies that businesses use

moonshot - high risks; not a lot around ideally you have lots of small ai projects grouped together to succeed

publishing industry

most is self-published content with no printing

AI benchmarks are going to be where

not in the industry, but in your respective company

new way of structure

now its more of a networking structure

problems with traditional publishers

number has shrunk; authors couldn't get picked up by them

deep learning

opaque; we put info in and the AI just does it ; we do not know where it goes, e.g banks cannot do this kind of learning

what happens when we do this?

other companies come in with the same new tech but slightly different, examples Is Lyft having an easier time expanding because people were used to Uber

types of forces

porter's, pestel

supplier is what type of relationship

power

availably is the #1 thing and then what

price

goals in business

profit, how big they want to get in the future lifestyle business - owner likes it how it is and is going to try and keep it that way

business environment equation

profits - relationship = customers, suppliers, competition

wicked problems are

relentless have no real solution/structure can define/solve it can't determine cause and effect overlapping shareholder concerns

which two PESTEL forces are the most dominant?

society and technology

competitive intelligence is not

spying, illegal

SCIP

strategic competitive intelligence professionals

the best place to start or commit to AI is in your

strategy

old way of structure

structure was rigid

types of disruptios

sustaining(incremental) - Disruptive (radical) , evolutionary, revolutionary

"locked - in"

switching costs can be locked in to a product, also known as learning costs

general AI

take over the role as a human; where AI has evolved to be equal to or better than human intelligence allowing for computers to take over the human mind

competency enhancing

taking your skills and putting them to better use

business models have shifted from _______ to ______

tangible ; intangible

revolutionary

tech developments that radically change markets ; signaled well in advance

evolutionary

tech enhancements that are a continuation of previous improvements

wicked problems

tend to be social or economic

AI tasks

test for monitoring processes measuring things making recommendations w/ analyzed data

aging

the changes in values, cultures, and priorities across generations

erosion of governance

the decline in traditional world order

blurring boundaries

the emergence of business ecosystems across traditional silos

hyperconnectivity

the emphasis on interconnectedness and collective behavior

disengagement

the evolution of ways in which we communicate and interact

empowerment

the growth and reinvigoration of ideas and self-work by the individual

displacement

the movement of people, ideas, and challenges across the globe

polarization

the role of divisiveness and divergence; individuals are free to have their own set of values and opinions

dematerialization

the shift in value structure from physical intellectual

scarcity

the unsustainable consumption of our natural resources

businesses are competing with ------- in terms of AI

themselves

What happens to small businesses with the rise of AI

they have less time and money to dedicate to it larger business will level the smaller ones

the great interconnectors

traditional publishing firms use their proprietary data services as a base the major consulting firms with strong AI capabilities niche online AI-based firms like Alt Dela, or CI/BI firms End users, such as the larger firms using existing in house knowledge

ai is expected to____ initially and _____ in the long run

underperform ; overperform

Ai will affect everything equally or unequally

unequally, big businesses will have the upper hand

disruptive disruptions

unexpected, brings radical change to the market started in a niche market before moving to an existing one

tangible business model

we could control IT, branding, supply chain, sales, minimize costs, buying power

life cycle of markets

we expect products to go up and down

biggest public concerns

weaponization of data security (data) transparency of AI is AI going to empower everyone or just some people is AI going to engage everyone with it or just certain languages are we going to be safe?

the biggest casualty in the publishing industry

what happened to newspapers

narrow AI

when AI is focused on a single and very focused goal

LinkedIn talent solutions

you will need to give the site more and more data they will give this info to companies problem is LinkedIn ranking applicants automatically companies will end up taking whatever this ranking gives them company thus loses control