The advent of AI is changing the role of companies, shifting the focus from producing goods to offering services. This change necessitates a redefinition of company purpose. Traditionally, companies were defined by their products, but AI enables them to become platforms that provide services, connecting users and third-party providers.
This shift towards becoming a service platform requires a new business model, one that prioritises user experience. Companies should strive to create a seamless, personalised experience for their users, leveraging AI to anticipate and meet user needs.
Companies must also rethink their role in society. They have a responsibility to ensure their platforms are used ethically and responsibly, avoiding misuse and protecting user data. They should aim to create a positive societal impact, using their platforms to address social issues and contribute to the common good.
Finally, companies should foster an ecosystem of innovation, encouraging third-party providers to develop new services on their platforms. This will not only drive growth but also help companies stay relevant in the rapidly evolving AI landscape.
In the age of AI, the purpose of companies is to serve as platforms that connect users and providers, enhance user experience, ensure ethical use, contribute to society, and promote innovation.
Go to source article: https://hbr.org/2018/08/whats-the-purpose-of-companies-in-the-age-of-ai