What do the world’s most successful companies do right? There’s no magic recipe for business success, but there are some things the world’s most innovative companies have in common.
What differentiates the world’s most innovative companies are their creation and use of Artificial intelligence (AI) and Platforms with Alphabet/Google, Amazon, Apple, Microsoft, and Facebook leading all others. Each of them is actively creating and providing AI-based applications, platforms and ecosystems that enable enterprises to improve customer experiences, creating entirely new revenue streams, business models and competitive advantages.
Alphabet/Google has defined its direction as an “AI first” company, intentionally creating a culture of AI-driven innovation. It has long embraced both platforms (think Android) and ecosystems (consider how Alphabet has worked with others to develop Waymo, its autonomous driving venture).
Next in line is Amazon, which, besides using AI in its retail business, has pioneered voice recognition technology (Alexa) and platform-based services (Amazon Web Services).
Apple, at number three, helped pioneer voice recognition software (Siri) and provided a premier virtual workplace for app developers with its iOS platform.
Fourth-place Microsoft has also evolved from a software company into a provider of AI and platform-based services.
The effects of AI will be magnified in this decade, as virtually every industry will transform their core processes and business models to take advantage of artificial intelligence and machine learning. The bottleneck now is in business imagination, implementation, and management. For business leaders, it is imperative to get a plan for making AI work in the organization.
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