Reflecting on the journey since ChatGPT’s debut a year ago, it’s clear that generative AI (GenAI) is more than a technological trend; it’s a pivotal shift in the business landscape. With almost two decades of experience in strategic and operational roles at McKinsey, eBay, Nike, and now at Prosus, Carrie Ryan, VP of Strategy and Business Development at Prosus, has focused on translating emerging technologies into strategies that drive meaningful business growth and value. In this article, she distills her learnings into a practical playbook for GenAI, aimed at helping startups to not only survive but also thrive in the GenAI era.
Key Takeaway
GenAI is not just a technological trend; it’s a pivotal shift in the business landscape. Startups can thrive in the GenAI era by balancing protective measures with progressive strategies and by laying a foundation for long-term, sustainable success.
GenAI Value Creation
Carrie emphasizes the importance of balancing protective measures, like data protection protocols, with progressive strategies, such as AI-driven product rollouts, as essential for startups. With a dedicated focus on GenAI, Prosus’ portfolio of companies has been able to realize significant value over the last 12 months across retention, sales pipeline, conversion rates, fraud prevention, and operational efficiency. While celebrating these quick wins, the real power of GenAI lies in its ability to lay a foundation for long-term, sustainable success in a constantly evolving landscape.
Getting Practical
Carrie outlines a three-step process, allowing startups to assess their position, strategize, and unlock value.
Disruption Diagnostics: Dissect Risk and Readiness
Understanding the company’s current standing in relation to GenAI disruption is crucial. This involves a thorough analysis of risk exposure and operational readiness, providing a foundation for a robust GenAI strategy.
