As we confront even greater disruption triggered by AI—one more profound than the digital revolution—the risk of failure has risen significantly if we do not adapt swiftly and develop the skill sets and strategies essential for thriving in today’s AI-driven world.
Everyone remembers Kodak; for many it was the brand behind their first camera. The iconic “Kodak Moment” campaign, launched in the 1980s, gained such traction that it became part of everyday language and was effectively synonymous with an unforgettably captured moment in time.
But as you know, nothing in this world is constant, and only those who can quickly adapt and re-adapt stand a chance at surviving for long! The fate of Kodak is a story told by business gurus in case studies many times over the last decade. A brand that was once the undisputed king went bankrupt in 2012. The reason was simple: overconfidence in its brand, failure to adapt to changing needs, and a refusal to confront new technological threats.
Once an undisputed leader a few decades ago, Kodak completely lost its way due to its failure to see change and implement a strategic overhaul for the digital age. Apple had a different tale, though. It was limping at the end of the ’90s, losing hard as Microsoft gained the upper hand with its Windows-based personal computers.
Apple teetered on the edge of bankruptcy when competition heightened. It, however, bounced back when Steve Jobs returned to the company in 1997 and introduced products such as the iPod, iPhone, and iPad.
As we face even greater disruption—one of greater magnitude than the digital revolution—in today’s AI and automation-driven era, the chances of failure have grown even higher if we do not adapt quickly and work on the skill sets and strategies that are critical to thriving in today’s times.
During a candid conversation with a CIO friend of mine, he shared an insightful perspective: AI and automation won’t replace people, but they will replace those who fail to leverage these technologies effectively to drive better results. The choice is yours: will you evolve with the times and lead the way like Apple, or will you be left behind like Kodak?