AI: A Business Strategy

From Awareness to Action: Key Takeaways from MAICON 2024

Attending #MAICON2024 was like riding an emotional rollercoaster—shock, awe, fear, excitement, and more. 🤯 It sounds dramatic, but these were my genuine feelings after spending a week immersed in discussions about how AI is transforming the business world. Hosted by the Marketing AI Institute, founded by Paul Roetzer, this conference was an eye-opener, revealing not just the future of marketing but the future of business itself.

At the highest level, companies are rushing to adopt AI. Whether they’re leveraging existing tools or building proprietary models to protect sensitive data, the rate of AI adoption is staggering. That’s where the awe—and the fear—comes in. The reality is, AI is evolving so quickly that even the experts don’t fully understand its long-term impact. They’re the first to admit they can’t predict exactly where AI is headed because these models learn, adapt, and evolve in ways we don’t yet fully comprehend.

Takeaways for Any Business

While the sheer scope of AI’s potential can be overwhelming, the key takeaway is that businesses—regardless of size—need to start somewhere. Here are the most critical insights I gathered at MAICON:

1. Embrace the Uncertainty: Get comfortable with being uncomfortable. AI isn’t a passing trend; it’s here to stay, and businesses need to dive in now.
2. Create an AI Governance Framework: Your organization is likely already using AI in some capacity, even if it’s just a few employees experimenting with tools like ChatGPT. Establish basic ground rules—like not uploading sensitive customer data to public AI platforms.
3. Recognize How AI is Transforming Business: From data analysis to content creation and workflow automation, AI is revolutionizing key business functions.
4. Audit Your Data: Know the state of your critical data. High-quality data is the backbone of effective AI implementation.
5. Explore AI Solutions: Research what’s available. There are likely AI tools that can be applied directly to your business model, whether for automating processes, enhancing customer service, or improving decision-making.
6. Test the Waters: Start signing up for free trials, running demos, and testing out solutions to see how they perform in real-world applications. Validate their usefulness for your specific needs.
7. Take Action: The worst thing you can do is nothing. Choose one solution, test it, track your results, and report back to your organization. Be honest about what works and what doesn’t. Becoming an AI champion within your business starts with this proactive approach.
8. Make AI Part of Your Budget: As we head into budget season, allocate funds to AI in your P&L. Once AI becomes a budget line item, it becomes part of the conversation—and, by extension, part of your strategy.

Real-World Examples

One of the highlights of MAICON was seeing real-world applications of AI, from Fortune 500 companies to small, four-person marketing teams. The creativity on display was mind-blowing. I saw a commercial produced for Under Armour using a combination of AI and human creatives—it was nothing short of award-worthy.

Final Thought: Just Start

At the end of the day, the most important takeaway is to simply start. Don’t wait for the perfect moment, because in the rapidly evolving world of AI, the perfect moment doesn’t exist. Begin with baby steps. Test one solution, gather data, and build from there. That’s how you foster innovation and growth in your business.