AI insights from a global expert

In this article, Michael Kanaan outlines four key areas of focus—executive decisions, goal setting, investment alignment, and policy establishment—offering valuable insights for leaders navigating the AI landscape

CREDIT: This is an edited version of an article that originally appeared on Vistage

Since the launch of ChatGPT, AI usage in small businesses has become mainstream, boosting efficiency in various day-to-day tasks. Recently, Michael Kanaan, the former and first chairperson of AI for the U.S. Air Force and author of “T-Minus AI: Humanity’s Countdown to Artificial Intelligence and the New Pursuit of Global Power,” addressed the critical high-level questions leaders need to consider regarding AI.

Kanaan outlined four distinct areas that leaders need to focus on when implementing AI in small businesses. He delved into each area, beginning with executive decisions, followed by setting clear goals, aligning investments with those goals and establishing appropriate policies.

Executive choices

CEOs must lead the decision-making process by addressing three key questions to create a solid rationale for their decisions:

• What’s your plan?
• What’s your expenditure?
• Do you have strategic patience?

Managing AI requires an R&D mindset that must be embedded throughout the entire company. Forming cross-functional teams across various business disciplines is essential. These cross-departmental teams will shape and inform your next steps.

Determine the case

Once a vision is established, the next step is to determine what specifically can and will be done. AI can significantly benefit small businesses when aligned with various goals, particularly those focusing on productivity and creativity. Kanaan presented a simple framework that uses productivity and creativity to categorise tasks into four groups, guiding leaders to identify where the greatest opportunities lie.

• What do I know?
• What don’t I know?
• How do I manage it?

By utilising this framework, leaders can identify where the greatest opportunities lie and diversify the scope and depth of their efforts, and investments accordingly.

Set the foundation

From the top down, it’s crucial to leverage your technology portfolio effectively, maximising the potential of data, people, and systems. Leaders should not only focus on what to invest in but also on the specific criteria for those investments. Kanaan recommends developing an investment strategy that considers the interrelationship between data, talent, hardware and software.

Doing due diligence

To future-proof their business, leaders must prioritise effective due diligence. This approach not only protects them and their employees but also ensures that decisions and actions are guided correctly. Kanaan emphasises that cybersecurity is not a cost centre. In today’s world, threats are not confined by geographic borders; believing you’re not at risk puts you at greater risk. CEOs can mitigate punitive damages by conducting thorough due diligence, which will minimise the impact when an inevitable mistake occurs.

Ethical frameworks play a crucial role in establishing common values and principles that a community can agree upon and adopt. By drawing on the contributions of various organisations and entities, these frameworks aim to create alignment on ethical guidelines and standards. Companies can adopt or adapt these frameworks to help all employees understand and uphold these shared values.