In the most recent episode of OxTalks series three, we invited Guy Gadney, CEO of Charisma.ai, and Grae Laws, Managing Director at Beyond Touch into the studio for an engaging discussion about the development of AI technology and its place in business.
Both Guy and Grae have experience with starting and running their own businesses, sharing fascinating insights and top tips for organisations looking to embrace AI technology – from differing industry perspectives.
Grae has extensive experience supporting small business growth – in 2013, he founded Beyond Touch , building a successful career as a business advisor dedicated to helping entrepreneurs and organisations overcome market challenges.
In more recent years, Grae has delivered workshops in collaboration with OxLEP to offer guidance to local businesses wanting to embrace AI tools to improve operations such as customer engagement, finance, and marketing.
Guy is an expert in AI within the creative industries, having spent nearly two decades integrating technology into storytelling to enhance productivity.
As the CEO of Charisma.ai, Guy created an interactive storytelling platform that transforms how stories are created and experienced, empowering users to engage with characters through free text entry.
He is passionate about the possibilities AI brings for immersive experiences where audiences can influence narratives.
Together, they illustrate how AI can significantly enhance business operations and drive transformative outcomes. Here are our top five takeaways from the episode:
WATCH: OxTalks series three, episode three: 'Top Tips for Using AI in Your Business'
1. Understanding AI's ubiquity in the workplace
Did you know that over 50% of businesses in the UK are already using AI technologies regularly? What's more surprising is that many employees have been utilising AI tools without even realising it!
From YouTube recommendations to navigation systems, AI is seamlessly integrated into our daily lives. For businesses, recognising and understanding these existing tools is crucial for leveraging AI effectively to support growth.
2. Assessing AI readiness
The UK stands out as a leader in AI adoption, ranking third globally according to IBM. Freshworks places it around ninth, highlighting that the UK consistently ranks in the top 10 for AI integration.
However, individual business readiness for AI is subjective; metrics like government investment and access to data can affect what position a company is in to embrace new technologies. The size of the company also has an impact – with larger organisations more likely to receive funding.
Organisations should assess their technological infrastructure and the skills of their workforce, with the support of guidance from business advisors, to evaluate their readiness for AI implementation.
3. Avoiding 'shiny object syndrome'
In the rush to adopt the latest technologies, businesses can fall prey to what’s known as "shiny object syndrome." This is the tendency to chase new ideas or trends, distracting from current goals and hindering long-term success.
Before diving into AI integration, companies should first identify their core purpose and objectives. Understanding how AI can enhance the business plan is vital, rather than letting the allure of new tech distract from core strategies.
Grae utilises AI platforms such as Fathom AI, a notetaking platform that transcribes and summarises notetaking, to improve his efficiency and activity when it comes to business.
4. AI's role in transforming business models
AI offers immense potential to analyse data and identify trends that can transform business models. If a core business strategy isn’t performing well, leveraging AI for insights could be a game-changer.
Pattern recognition in AI is the process of using machine learning algorithms to identify and classify patterns in data – helping us to analyse large amounts of data. By using these tools to understand patterns in data and process it more quickly, businesses can uncover new opportunities and mitigate risks before they escalate, positioning themselves for growth in a competitive landscape.
5. The importance of collaboration in AI development
As AI technology evolves, collaborative learning is paramount. A collaborative approach allows for learnings to be shared across sectors, including healthcare, manufacturing, education, and leisure, creating significant opportunities to enhance operational efficiency and improve customer engagement.
As we continue to navigate the world of AI, it’s essential to stay informed and adapt to emerging tools and practices. Guy and Grae’s insights in this episode of OxTalks are a compelling reminder that embracing AI isn’t just about adopting new technology – it’s about understanding how it can fundamentally enhance your organisations core operations.
If you're looking to navigate your AI journey, tune into the full episode for more in-depth insights and expert advice.
For hands on business support, get in touch with OxLEP Business.
